The Right Place provides update on Tech Strategy for Greater Grand Rapids Region

Today regional economic development organization The Right Place, Inc. released its annual progress report on its a 10-year tech strategy to grow the Greater Grand Rapids region into a major tech hub of the Midwest. This vision calls for the tech sector to grow to 10% of regional employment and 20,000 jobs over the next decade.

The region added 449 tech jobs since August 2023, bringing the total number of jobs created since the Tech Strategy launched in November 2021 to 3,754.

Some notable highlights included in the 10-page report (available here), include:

• The year was marked by significant expansion and collaboration across the Greater Grand Rapids tech sector. Companies like Mutually Human and NuWave pursued acquisitions, while others, such as Ludus, selected Greater Grand Rapids as their headquarters. Organizations including the West Michigan AI Lab, Go Beyond, and The Mitten Project have also played key roles in fostering collaboration, enhancing accessibility, and advancing technology in the region. This progress is complemented by Grand Valley State University’s BlueDot, a tech lab ecosystem at the university’s downtown campus.

• The launch of the “AI in Manufacturing Roadmap,” developed in partnership with regional manufacturers to help companies integrate AI into their operations.

• Tech Week 2024, which promises even more events and opportunities for collaboration.

The report also provide some key data points such as:

• 39,123 total tech jobs in greater Grand Rapids.

• Industrial engineers and software developers each comprise the higher concentration of tech occupations at 13% each.

• There are currently 6,770 tech job postings in the region, with a median salary of $83,300.

• CBRE has recognized the region as a top 24 emerging tech market for high-tech talent.

The strategy, launched in November 2021, was the product of more than six months of intensive research and strategic planning with hundreds of business, community, education, and other leaders across the region. The initiative was led by Technology Taskforce co-chairs Steve Downing, CEO of Gentex and Dr. Richard J. Pappas, President of Davenport University, both of whom bring a blend of industry and academic expertise.

The strategy and corresponding recommendations have been segmented into three categories: Talent, Ecosystem and Growth.

Talent
Increasing the tech talent pipeline is fundamental to the successful execution of the overall strategy. The region must attract, reskill and educate 20,000 people in the next 10 years to meet the rising demand for talent. Detailed tactics to achieve these goals are available in the report.

Ecosystem
Innovation requires a cohesive ecosystem in which entrepreneurs, startups, and corporations are empowered to commercialize their projects and scale their companies. Creating a robust ecosystem will involve several key objectives: Launching tech events, growing incubators and accelerators, supporting entrepreneurs, increasing density and expanding broadband. Tactics are detailed in the report.

Growth
The Grand Rapids regional business community can lead future technological innovation and cultivate a larger digital transformation in the community via the connection of businesses and tech, attracting and growing existing tech companies, and marketing the region as a tech hub. Tactics to achieve these objectives are detailed in the report.