LETTER TO THE REGION
THE STATE OF GREATER GRAND RAPIDS REGION: Welcome to The Right Place’s annual State of the Region report, designed to give you an in-depth look at the key economic trends in Greater Grand Rapids. Each year, our team meets with over 500 businesses across the region, taking the pulse of the local business community. These qualitative insights, combined with quantitative research performed by our business intelligence team, create a unique economic analysis of our region. What has this research revealed about the state of our region? Overall, business leaders in Greater Grand Rapids have found many reasons to remain optimistic. Most companies are planning for near-term expansions and experiencing increasing sales, although talent recruitment remains a barrier to full growth potential. While some economic headwinds persist, such as labor shortages and the potential of a slowing U.S. economy in 2024, local business leaders continue to make investments in our region’s future. Our community has good reason for this positive outlook, with the region continuing to outperform state and national averages on many key economic indicators. Notably, we are a population growth center that continues to outpace both the state and nation when it comes to attracting and retaining the next generation at a time when communities across the country are seeing a declining youth population. We’ve also accelerated beyond pre-pandemic job levels and are experiencing job growth across many key industries. All of this has been achieved while maintaining an affordable cost of living compared to national averages. The economic success of Greater Grand Rapids is evidenced in the data throughout this report, but it is also visible across our region. From a changing skyline downtown to significant investments in public spaces across our communities, the region remains a vibrant and thriving place to call home.
Tina Freese Decker The Right Place, Inc. Board Chair
Randy Thelen President & CEO The Right Place, Inc.
President & CEO Corewell Health
STATE OF THE REGION 2023 | 1
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