As most people have probably heard, the city of Detroit, Michigan filed for Chapter 9 bankruptcy, creating widespread worry over some of the historic city’s most enduring features. Politically, of course, the fallout from the bankruptcy will be huge, but the move also affects some of the periphery events and businesses that surround the city. Including the nation’s largest automotive show, the North American International Auto Show (NAIAS).
Rod Alberts, the Executive Director of NAIAS, made a public statement on behalf of the auto show’s committee and the Cobo Center at which it’s traditionally held.
The bankruptcy filing, Alberts said, is a good move for the City of Detroit and one which the committee believes will benefit Detroit in the long run. The filing, he said, will help the city move forward by relieving it of is legacy of liabilities.
As for the auto show and the Cobo Center it is held in, the Director said that they are not dependent on Detroit City funds to operate and that the bankrtupcy will not affect the show directly. While it may have some implications for peripheral things around the show, the committee believes that these will be minimal as the months of recovery leading to the show will allow the city to restructure and get back on track with needed services.
The Cobo Center is run by a regional authority rather than a city-based one, so will also remain unaffected by the city’s bankruptcy. The committee, through Alberts, says that they hope to help Detroit recover by continuing to provide one of the city’s largest annual attractions and tourism opportunities and its more than $350 million in annual economic impact to the town.
“We will continue, as planned, to work side-by-side with international auto manufacturers, which continue to rely on Detroit’s stage to make their worldwide product introductions,” said Alberts.
