Yeah, I'm old enough to remember when Detroit was a real city with a large industrial base. We were known as "The Motor City" (or "Motown" for short) because of the concentration of automotive industry there, but there was a lot more to it than that. Nobody worried about getting a job - businesses worried about getting employees. Everybody was fat, dumb and happy.
It only took a few short years to change all that. Racial unrest, labor unions, Democrats taking over local government and Nixon opening trade with China were the major factors. The city went from roughly 2 million residents down to the mid 6 digit range in fairly short order, with the remaining population being mostly criminals or somewhere between indigent or nearly so. No tax base to speak of. A couple/few decades of that, and the place resembled a war zone more than anything else, complete with cars full of gang bangers armed with automatic weapons, an impotent, undersized police force, and essentially non-existent city services. Finally, the city gave up and declared bankruptcy. Pretty sad.
Theoretically, it's turning around. There's big money being spent by both the federal/state government and opportunists who are able to buy up major chunks of real estate and substantial buildings for pennies on the dollar. So, who knows? Maybe it'll be nice again someday. I'm not going to hold my breath while I wait for that to happen, though. Government money generally just disappears into incompetencies and fraud, and private investors are probably going to come out ahead through tax credits and other financial chicanery rather than any kind of practical business success.