Despite the doom and gloom surrounding Southeast Michigan's economy, retailers from across the country are moving into the area and local stores are expanding.
Excerpt:
A recent report by the International Council of Shopping Centers shows that more than 30 retail projects worth more than a total of $1 billion are being developed in the area.
Retailers say even though times are a bit tough in Michigan, Metro Detroit consumers have plenty of money to spend. That said, retailers expect the next couple of years will be on the lean side. Profits -- if there are any at all -- will be marginal.
Yet industry experts say business will pick up when the economy improves by the end of the decade, and retailers want to be here when that happens.
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