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As AM 1200 WCHB reported yesterday, Magic Johnson planned to make an announcement in Detroit that he teased on his twitter that would create jobs for his home state of Michigan.

This just in from WXYZ

DETROIT (WXYZ) – Magic Johnson has announced that he is partnering with a local company and will invest millions of dollars to give back to the city of Detroit.

In a news conference Thursday morning at Quicken Loans headquarters, Magic announced that he is making good on a promise he made to Detroit Mayor Dave Bing to invest in the city.

Detroit Venture Partners is a company that is dedicating resources, support and business strategy in order to help rebuild and empower the city.

Magic says he is grateful for the opportunity to put people back to work and keep good talent in Michigan.

“I’m hoping that I will have a little “Magic” to create job opportunities for people who live here,” Magic says.

Detroit Venture Partners seeks to invest in entrepeneurs and the brightest talent from the Detroit area who are looking for capital and support for their Detroit ventures.

On the company’s website , they describe their mission:

“We love Detroit so much that we are devoting our careers to rebuilding this incredible city. We believe that entrepreneurship can drive meaningful social change – creating jobs, wealth, and hope. Where others see the remains of a time gone by, we see enormous opportunity.”

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