- Associated Press - Saturday, September 26, 2015

DETROIT (AP) - Elected and business leaders are using a three-day conference to convince professionals with Detroit ties that they should invest or reinvest in the city.

About 175 people have registered to take part in Detroit Homecoming 2015 which starts Wednesday, according to the event’s organizers.

Officials said last year’s inaugural conference resulted in more than $230 million in direct investment through 30 initiatives.

“They have bought buildings, invested in businesses, started nonprofits and moved back home,” Detroit Homecoming co-director and former Fortune Magazine publisher Jim Hayes said in a release. “We are excited to see how this year’s class finds a way to reconnect with their hometown.”

About 30,000 former Detroiters were contacted about this year’s event through electronic newsletters and social media. Receptions for expats also were held in San Francisco, New York and Washington D.C.



Detroit continues to restructure less than a year after exiting the largest municipal bankruptcy in U.S. history. The city shed or restructured $7 billion in debt and is working to improve city services.

“Detroit Homecoming provides exactly the right motivation our city needs to bring native Detroiters back home to be a part of the city’s revitalization,” Deputy Mayor Ike McKinnon said. “The results from last year are truly impressive.”

The event will include a panel discussion with some of Detroit’s top sports legends, a peak at what’s ahead for the city and Mayor Mike Duggan discussing its major challenges.

Miami Dolphins owner Stephen Ross will speak to the gathering via video. Ross earned his Bachelor of Business Administration degree in accounting from the University of Michigan Business School and his law degree from Wayne State University in Detroit.

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