EXECUTIVE SUMMARY
PROSPERITY
regional employment in 2024 (faster growth than state & national levels since 2019) 591,000 of companies planning expansions 53% of companies plan to increase hiring 45% tech jobs in 2024, a record level 39,668 of companies report increasing sales 62%
PEOPLE
PLACE
HIGHER concentration of young people as share of the population compared to nation possess a bachelor’s degree or higher 37% population growth over the last decade 6.1% of the past decade’s population growth driven by diverse communities 2/3
industrial vacancy rate 2.5%
increase in residential 9%
building permits (from 2023 to 2024)
more air travel passengers (from 2023 to 2024) 348k below national average 8% Low cost of living
Lightcast represents a significant data source throughout this report. Lightcast aggregates and models public data from the Bureau of Labor Statistics, U.S. Census, and other sources.
All data used for this report is based on the Grand Rapids-Kentwood Metropolitan Statistical Area, which contains Kent County and sections of Ionia, Montcalm, and Ottawa counties unless otherwise noted.
Notes on the data
STATE OF THE REGION 2024 02
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