Sam Kahan, economist for the Federal Reserve Bank in Detroit, tells GlobeSt.com that the metro area economy is undergoing a transformation that rivals one 100 years ago-—as workers were moving off the farm and into the Motor City's factories. "We know the economy of this area is in a dynamic state of change. It will never be the same that it was," Kahan went on to tell GlobeSt.com, during a groundbreaking ceremony for a new Federal Reserve Bank in Detroit.

"We tend, however, to look at the negative side of things, at the loss of manufacturing jobs," he says. "We need to focus on the growth aspects of what's happening, such as the location of increasing amounts of research and development facilities in the metropolitan area to serve the auto industry."

Kahan says the metro area's commercial real estate sector faces a challenge as manufacturing facilities continue to be vacated around the area. "It is a major challenge. How do you make the economic case for what to do with these structures?" he says. "That is a challenge that requires input from the private sector and from government," he adds."We tend, however, to look at the negative side of things, at the loss of manufacturing jobs," Kahan explains. "We need to focus on the growth aspects of what's happening, such as the location of increasing amounts of research and development facilities in the metropolitan area to serve the auto industry."