Gross Regional Product (GRP)
Manufacturing GRP in Greater Grand Rapids increased $2.4 billion from 2019 to 2024, while job levels have remained below pre-pandemic levels, highlighting ongoing productivity gains among regional manufacturing companies. From 2023 to 2024, manufacturing GRP contracted 0.3% . This marks the first decline in manufacturing GRP growth since 2021 and the first contraction since 2020. This contraction was likely a market correction following high GRP growth post-pandemic. The region’s manufacturing GRP, which measures the total value of goods and services, mirrors a national declination trend. Nation-wide manufacturing GRP contracted 0.2% from 2023 to 2024. Michigan’s manufacturing GRP increased 0.4% during the same period.
$14.4B 24% 2015
Share of Greater Grand Rapids gross regional product associated with manufacturing
2024
GRP Growth
$18.4B 28%
Manufacturing GRP Year-Over-Year Change
GGR
MI
US
15%
10%
5%
0%
-5%
-10%
-15%
2022
2023
2024
2015
2016
2017
2018
2019
2020 2021
Source: Lightcast
10
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