January 2015

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Page 49 of 83

>> REGIONAL REPORTS Regional Directors Sum Up Their Slice of North America All in all, these six industry leaders say dealers in their areas have something solid to drive equipment sales and rentals as the New Year begins. 48 | www.cedmag.com | Construction Equipment Distribution | January 2015 W e are extremely bullish on the conditions facing the Midwest in general, and the state of Michigan in particular, over the next couple of years. e state was hit very hard by the recession and the down- turn in the automotive industry; as a result many construction projects were put on hold due to a lack of funding. With the improvement of the state's economy and the resurgence of the automotive industry, there is pent-up demand for construction and the rebuilding of the state's infrastructure. Our legislature is poised to pass a new wholesale gasoline tax, which, when fully implemented, will raise $1.2 to $1.4 billion annually for road funding. e other major factor driving my optimism is the progress being made in Detroit, Michigan's largest city. As the city emerges from bankruptcy, the investment environment will become more stable and developers will increase their funding of projects in and around the city, trying to become a part of Detroit's rebirth. Projects like the M-1 Rail Line, the Red Wings Arena District, and the international bridge crossing are just the begin- ning for the city. e confidence from Detroit's potential renaissance has already begun to spread, and we have seen an increased number of projects in cities throughout the state. Areas of Growth New industrial, office and mixed-use space in the Detroit area (five major counties) Major Projects/industrial/ Infrastructure ere is currently 8.5 million square feet of proposed industrial space construction. Planned and proposed industrial developments include: n New Joe Louis Arena & Detroit Entertainment District – $650 million e 650,000 square-foot hockey arena to be completed by 2017/2018 in Detroit will seat 18,000 and have an attached 500-space parking garage, 10,000 square feet of retail space anchored by a Red Wings Merchan- dise store. n New International trade crossing – $1-$2.2 billion n On May 22, 2013 e Canadian Government, allocated $25M to begin land acquisition on the Detroit side of the river. n Planned I-75 work for 2015 – $850 million 8 Mile Road to M-59, SB I-75 loop will be gone and addition of fourth lane along entire stretch. n Detroit Wayne State University -$150 million 410,000 Square Feet residential and retail space at Cass and Canfield. Broder & Sachese Real Estate Services, Inc. n Detroit Riverfront – $55 million 400,000 square feet; 500 residential units with retail and restaurant space; McCormack Baron Salazar Development n A Windsor-Detroit bridge Authority (WDBA) was appointed in July. n Detroit – Redevelopment of Wayne County Jail site – $500 million 1.7M square feet, residential, hotel, retail- Rock Ventures, LLC ese are just some of the exciting projects taking place in the Detroit area! n U.S. MIDWEST REGION Detroit Resuscitated, and Michigan Road Funding Gets New Life AED Director Ryan Greenawalt Alta Equipment CO. Wixom, Mich.

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