Warren Buffett Praises Detroit, Announces Investment In Local Small Businesses

Nov 26, 2013

Warren Buffett made a visit to Michigan Tuesday to help launch a program that will invest millions of dollars in Detroit-based small businesses.

We have more from The Michigan Public Radio Network’s Jake Neher.

The announcement was a who’s who of business leaders and Michigan politicians. Buffett was joined by Governor Rick Snyder, Detroit Emergency Manager Kevyn Orr, members of Michigan’s congressional delegation, White House officials, and many more.

Buffett is an advisor to Goldman Sachs’ Ten-Thousand Small Businesses initiative. He says small business growth will play a key role in rebuilding Detroit.

“The United States with a flourishing Detroit is going to be a lot better United States than without one,” he says.

Goldman Sachs’ program will offer business training to Detroit entrepreneurs. It’s also committing $15 million of capital to support small businesses in and around the city.