A LIBERTARIAN ISLAND NEAR DETROIT [A creative…] “project conceived by real est

A LIBERTARIAN ISLAND NEAR DETROIT

[A creative…] “project conceived by real estate developer Rod Lockwood. He has outlined plans to buy Belle Isle, a 982-acre public island park in the Detroit River, and transform it into an independent commonwealth with its own laws, regulations, and taxes (or lack thereof). Investors would buy the island from the city for $1 billion and then sell lifetime citizenship for $300,000. The extra $1 billion would help the city pay off its debts, and the lax regulations and low taxes would act as a magnet for investment, says Lockwood.”

“We would expect a quarter of a trillion dollars in capital would be brought onto the island,” says Lockwood. “Detroit would have its own Singapore in its backyard.”

-Reason Magazine