The Malik Report
by Paul on 12/04/12 at 04:34 PM ET
from Paul Egan of the Detroit Free Press,
Officials from Mike Ilitch's Olympia Development Company are today outlining to state lawmakers plans for a $650 milllion-dollar mixed use development in downtown, anchored by a "new, state of the art, multi-purpose events center."
Eric Larson, non-executive president of Olympia Development, told the Senate Government Operations Committee the public-private development is expected to annually produce more than 1,000 jobs and $210 million in economic impact.
"The building of an events center district will create over 5,500 jobs for the events center alone and nearly 8,300 jobs for the first phase of the overall events district," Larson said.
He pegged the overall economic impact of the project at $1.8 billion.
Read the press release from Ilitch Holdings.
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