Organizers say that the 2014 North American International Auto Show organizers, to be held at Cobo Center, will not be affected by Detroit’s bankruptcy filling.
Since 2009 the Cobo Center from has started to operate independently Detroit, when the Michigan’s legislature named the regional authority in control of the convention center. The Detroit Regional Convention Facility Authority is formed out of five members that were appointed by the state, the Detroit city and three counties accounting for the Metro Detroit: Oakland, Macomb and Wayne.
Detroit filed for bankruptcy on Thursday, July 18th, after its debt rose to more than $20 billion. Rod Alberts, executive director of the Detroit Auto Dealers Association, said that even if the city currently faces some difficult times, it still believes that filing for bankruptcy was the right move to be done.
“It was something that had to happen for Detroit to move forward,” Alberts said in an interview with Automotive News. “It’s our opportunity now to actually relieve ourselves from this legacy of liabilities that we have and get a fresh start for the city.”
The Cobo Center is currently performing renovations worth $299 million, to make improvements and add meeting space. The renovations are made as some automakers threatened to scale back exhibits or even skip the show.