Why was Ypsi hit so hard?

There are a number of factors that have contributed to Ypsilanti's slow climb from its great economic fall.Melissa Milton-Pung, an economic development specialist with the Eastern Leaders Group, said that Ypsilanti's slow recovery is due, in part, to the loss of large employers in the region. "Particularly looking at how GM was one of the largest employers in the munity before closing its facilities, that was a major employer in this munity that's no longer here," Milton-Pung said.CAT Drill Chuck Holder manufacturers "We lost over 1,100 jobs from 2005 to 2007 when GM closed their Willow Run powertrain location. Overall we've lost 13,914 manufacturing jobs since 2001. You have people who were accustomed to doing an honest day's job in manufacturing jobs who have lost those jobs and who now don't have all the skills necessary to pete in this changing economy." The trickle-down effect started from there, she said,DIN69871 Drill Chuck Abror manufacturers as the loss of jobs resulted in foreclosed homes and a lack of spending power. Eighty-four percent of the foreclosures in county during the recession happened in Ypsilanti, Ypsilanti Township and Pittsfield Township – the three regions that employed most of the displaced manufacturing workers.Susan Moeller, a professor of economics at EMU and a member of the Ypsilanti City Council, said that there is a lack of high-wage jobs in the city and that's also put a damper on the recovery. "People have left Ypsilanti since the factories closed, and the Michigan economy caused them to lose their jobs and move out of state… e have not replaced any higher-paying jobs yet," she said."Many homes in Ypsilanti could not be sold and have been turned into rentals…"Ypsilanti has been trying to cast its appeal to potential job creators for years. The undeveloped Water Street property presents some of the city's greatest potential along the Michigan Avenue corridor.Water Street has seen a number of potential investors e and go because plans don't fit in with the city's vision for the site.Most recently proposed is a chain retail store and an affordable housing development, but Schreiber acknowledged that the city hasn't been able to snag the type of developer that would stimulate the local economy like was once envisioned.