The Right Place releases 2023 Manufacturing Report

Today, regional economic development organization The Right Place released its first Manufacturing Report. This report is designed to inform the manufacturing community of key trends impacting the region. It is the result of insights gathered from The Right Place’s economic development work across its 8-county collaborative, and economic research performed by its Business Intelligence team.

Key takeaways include:

• In 2023 manufacturing jobs topped more than 78,500, a 7% growth from 2013
• Motor vehicle-related stamping, plastic product manufacturing, and office furniture manufacturing represent the top three most prevalent industries in Greater Grand Rapids
• In 2022, manufacturing GRP accounted for 21.1% of the total economy, a slight uptick from the 20.8% it comprised a year prior

From November 2022 to the present, The Right Place has met with over 200 manufacturing companies through in-person retention calls - structured meetings meant to gauge a company's performance, identify pinch points, and connect them with the resources needed to thrive in GGR. Through these conversations, we found that:

• 55% of companies plan to expand, compared to 52% from previous year
• 54% of companies are experiencing recruitment problems, compared to 61% from previous year
• 8% of companies plan to enter new industries, compared to 3% from previous year

To read the full report, click here.