The company claims that it could provide between 500,000 and 1 million new jobs over the next 10 years in the city, which is dealing with economic problems.

The company also said that it would build the world’s largest factory, besides assuring supply of electricity to Detroit at a flat rate of $0.02 per kilowatt-hour for both homes and offices, starting in 5 years.

American Atomics CEO Jack Campbell said the company’s launch will be at a pace that was never seen before.

"So oddly, our ideal site is one that’s surrounded by that many unemployed or underemployed workers. Detroit not only meets that requirement, but does so with a quality workforce already accustomed to large-factory work environments," Campbell added.

"Additionally, the infrastructure and services in Detroit are already scaled to the growth we will bring to the area, only requiring some modernization and ramping up of existing systems. Detroit’s vast, semi-vacant condition is a near-ideal fit for our unusual requirements."