Legendary NBA baller-turned-businessman Earvin “Magic” Johnson recently announced that he’ll be partnering with a local firm to invest millions of dollars in the city of Detroit.
Although Johnson is actually from Lansing, Michigan, he said he’s investing in Detroit because he believes in the city’s recovery.
“I am investing in Detroit Venture Partners and the City of Detroit because I want to have a positive impact on the biggest downtown in my home state. I believe strongly in the Detroit 2.0 movement and creating opportunities to help people get back to work,” Johnson said in a press conference.
During the press conference, Johnson became emotional and credited Detroit maybe, Dave Bing, as a major influence on his life.
“Mayor Bing I’m investing millions of dollars in this venture,” Johnson said during the news conference. “The promise that I made you, I’m making good on it right now.”
Dubbed “the Blackest city in America,” Detroit has suffered tremendously during our country’s economic downturn. With unemployment rates in Detroit hovering around 12%, many are hopeful that’s Johnson’s investment will bring much-needed jobs to the city and foster a recovery.