DETROIT, MI At the recommendation of Olympia Development of Michigan, the Detroit Downtown Development Authority has approved new multi-million dollar contracts for future work on the new Detroit Events Center, future home of the Detroit Red Wings.

Contract awards include $28 million for concrete work to Tooles Contracting Group, which is a registered Detroit, Michigan-based Minority Business Enterprise. Additionally, nearly $8 million for vertical transportation was awarded to national elevator and escalator company KONE Inc., which allocated more than 11 percent of the value of its contract to Detroit-based Lardner Elevator Company. This unique partnership diversifies the traditional elevator model for new construction, which has rarely included Detroit-based businesses.

"To earn new construction work on a project of this magnitude and importance for the city of Detroit is a real point of pride for us," said Elizabeth Lardner, President of Lardner Elevator.

"We recognize the importance of bringing Detroit-based companies into the vertical transportation industry," said Larry Wash, Executive Vice President of KONE Americas. "Olympia Development's outreach program supported our efforts to diversify this industry and create a partnership with Detroit-based Lardner Elevator. It's a win-win for all of us."

Olympia Development of Michigan set a target of at least 30 percent Detroit-based or headquartered business participation in constructing the new Detroit arena. To date, the Detroit Downtown Development Authority has approved nine contracts worth $121 million, of which Detroit-based and -headquartered businesses have won more than 88 percent or $106 million of the contracts awarded.

"Olympia Development's outreach program is ensuring that Detroit businesses like mine are participating financially in this transformative project," said Damon Tooles, President of Tooles Contracting Group, LLC.

All contractors and subcontractors have also agreed to Olympia's aggressive goal of 51 percent Detroit-resident employment in construction of the Events Center.