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Lansing region boasts one of state’s fastest growing economies, study says

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Posted at 1:18 PM, Nov 06, 2019
and last updated 2019-11-06 13:18:28-05

LANSING, Mich. — A recent study shows some good news for the Lansing region’s economy.

SmartAsset, a finance technology company, ranks Ingham County No. 7 among 83 counties in Michigan for the fastest gross domestic product growth over the past four years.

Ingham trails Genesee, Washtenaw, Kent, Macomb, Wayne and Oakland counties. Leader Oakland County, according to the study, has a GDP growth index of 8.11. Ingham’s is 2.77.

SmartAsset’s study looked at four factors to determine the growth index for each Michigan county: business establishment growth, GDP growth, new building permits and federal funding.

Lansing Regional Chamber of Commerce President and CEO Tim Daman said in a statement the Lansing region’s rise should be credited to a diversification in the local economy.

He cites a transition from government, education and manufacturing to health care, insurance and entrepreneurial ventures.

“This expansion has transformed the area into a hub for world-class talent, which has allowed for significant innovation, investment and job creation,” Daman said.

“With nearly $3 billion in current and planned developments anchored by investments in energy, health care and ag processing, our region is experiencing historic growth with no indication of slowing down.

“Additionally, the more than $40 million in infrastructure investment in 2019 will provide a trajectory for continued strong growth throughout the region.”

For more information about the SmartAsset study, visit smartasset.com/investing/investment-calculator#michigan/GDP.

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