Forbes Under 30 Summit coming to Detroit for the next 3 years

An event that's found a home in cities like Hong Kong, Boston and Jerusalem will now take up residence in Detroit.

For the next three years, Forbes will host its annual Under 30 Summit in the Motor City.

"This is our signature event for young entrepreneurs in the world and we wanted to partner with the city that was on the rise," said Randall Lane of Forbes, "because these are the people who are on the rise...we wanted a city that was on that long term rise."

Showcasing some of the world's best known entrepreneurs like Richard Branson and Shawn Mendes, the event is meant to foster the growth of ambitious young workers keen on changing the world.

Flanked by the governor, mayor and county officials, the announcement was directed at millennial entrepreneuers ready to tackle the world's troubles.