State of the Region Report

As one of the fastest-growing regions in the Midwest, Grand Rapids economic growth continues to thrive, with a range of business, and a strong sense of community.

Read about the key findings from the Grand Rapids Chamber’s 2025 report. Below is an overview of the region’s achievements, challenges, and opportunities for the future, offering valuable insights for businesses, community leaders, and residents that you’ll read about inside.

Key Highlights

1. Population & Economic Growth:

Grand Rapids leads the Midwest in population growth with an 8% increase over the past decade.
The region experienced the highest household income growth, reaching $80,296.

2. Business Expansion:

Private businesses grew by 33.3% from 2013-2023, the highest rate among major Midwest metros.
Significant wage growth in key industries such as construction (+46.7%).

3. Housing Market Trends:

Housing prices surged by 251%, reflecting high demand.
New housing units are being built at twice the rate of population growth.

4. Optimistic Business Outlook for 2025:

Business leaders project a 1.5% employment growth and a 3% wage increase.
Grand Rapids businesses are more optimistic than surrounding counties.

5. Key Factors Driving Community Vibrancy:

Economic growth, strong leadership, and reliable infrastructure.
Attractive amenities, social connections, and a sense of belonging.

6. Chamber’s Role in Community Growth:

Advocating for policies that support business success.
Providing mentorship, training, and resources for businesses.
Promoting housing affordability and accessibility.

7. Challenges & Opportunities:

Addressing labor constraints and housing shortages.
Leveraging Grand Rapids’ youthful demographic for future growth.

Grand Rapids is a region on the rise—driven by innovation, collaboration, and a shared commitment to prosperity for all. As we look ahead to 2025 and beyond, the Chamber remains dedicated to supporting our business community, advocating for policies that foster growth, and working towards a more vibrant and inclusive future. Stay connected with us as we continue to build a thriving Grand Rapids together.

And be sure to read through our Grand Rapids Economic Forecast for 2025.