Five years ago, when the Administration of Edward McNamara took the wheel of Wayne County, Michigan, it became the proud owner of a dangerous jalopy. The county was in bad need of fiscal repair and speeding towards bankruptcy.

But now a new-model Wayne County, which encompasses Detroit, is rolling off the line. Bond ratings have climbed into investment-grade territory, confidence is starting to build, and most of all, state-mandated costs are being fastened down.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.