GM Donates Riverwalk To Detroit Conservancy

Company Is Committed To Economic Development Around The Globe

DETROIT - General Motors unveiled the latest addition to its headquarters at the Renaissance Center today. The plaza and promenade, along the Detroit River, epitomize the vision of the city and the Detroit Riverfront Conservancy to showcase the waterfront as a destination for residents and visitors.

"This is another step in the revitalization of the city of Detroit and the waterfront," Chairman and CEO Rick Wagoner said as he presented the promenade's deed to the Detroit Riverfront Conservancy. "We are pleased to make this donation as part of our commitment to economic development."

In accepting the deed, Detroit Riverfront Conservancy President and CEO Faye Alexander Nelson said, "This is a great example of what is possible when the public and private sectors come together and when they share and believe in the same vision. Thanks to the leadership of partners like General Motors, our vision for a transformed Detroit riverfront is becoming a reality."

Among the dignitaries attending the ceremony were Detroit Mayor Kwame Kilpatrick, Michigan Gov. Jennifer Granholm, U.S. Sen. Debbie Stabenow and U.S. Rep. Carolyn Cheeks Kilpatrick.

Mayor Kwame Kilpatrick acknowledged GM's purchase and redevelopment of the Renaissance Center as the catalyst driving the revitalization of Detroit. "GM could have put its new headquarters anywhere, but they have an unwavering commitment to Detroit. GM's decision to reinvest in the community is driving the growth we are experiencing today. This facility not only houses nearly 11,000 people but has the largest single concentration of retail space in Detroit," Kilpatrick said.

GM has always been a part of the solution, according to Michigan Gov. Jennifer Granholm. "Whether in Lansing, Pontiac, Flint or Detroit, GM's economic development efforts in Michigan illustrate the company's strategic awareness of what it takes to be successful in the 21st century," Granholm said.

U.S. Senator Stabenow, said, "U.S. companies must understand that it is not only their leadership that is needed to further economic development in this country, but it is their responsibility, and GM has always understood this."

Wagoner also announced GM's plan to conduct economic development forums in each of its four global regions over the next year. These forums will bring together regional and local economic development officials, community leaders and GM staff experts in economic growth and development. "As business leaders, we have a great opportunity and responsibility to promote economic growth," Wagoner said.

GM has been involved in economic development efforts around the globe. The company's economic development staff sits on a wide range of community boards, provides advice and counsel to communities that are trying to grow, and helps others that are challenged by the loss of business. "Throughout our history, GM has developed an expertise that we want to share in a more strategic fashion with communities around the world," Wagoner said.

Matt Cullen, GM's general manager of economic development and enterprise services, and Doug Rothwell, executive director of worldwide real estate, will lead the regional economic development forums in Detroit, Zurich, Switzerland, Sao Paulo, Brazil and Shanghai, China.