Grand Rapids has experienced significant economic growth in recent years, marked by a surge in construction and a thriving entrepreneurial ecosystem. In 2025, the city reported a record-breaking $949.3 million in total construction value, surpassing the previous high of $728 million in 2024. This growth is attributed to major developments like the Amway Stadium and the Joan Secchia Children’s Rehabilitation Hospital, alongside rising costs for materials and labor. City Manager Mark Washington noted, “This marks five consecutive years of growth in construction value, which is a healthy sign for our economy.”
Supporting this economic expansion is a robust network of organizations dedicated to fostering entrepreneurship. Start Garden offers pitch competitions and coworking spaces to help entrepreneurs build supportive communities. Their initiatives, such as The 100 and 5×5 Night, provide funding and platforms for business ideas, making entrepreneurship more accessible. Similarly, the Grand Rapids SmartZone assists tech startups by offering funding opportunities, mentorship, and collaborative workspaces, aiming to move ideas from concept to market.
For those seeking formal education in entrepreneurship, Grand Rapids Community College offers a two-semester Entrepreneurship Certificate program. This program equips individuals with essential skills in entrepreneurial thinking, preparing them to start or grow small businesses. Additionally, the Grand Rapids Chamber’s Center for Economic Inclusion delivers technical support to the small business community, focusing on diverse-owned businesses. Their programs include Business Growth Workshops and the West Michigan Minority Contractors program, tailored to various business needs.
Despite these positive developments, the economic forecast for 2026 indicates a mixed outlook. The Seidman College of Business at Grand Valley State University projects a slight decrease in business confidence, with the Forecast Business Confidence Index for 2026 at 71%, down from 72.4% at the end of 2025. Employment is expected to grow modestly by -0.2% to 0.6%, and overall nominal sales are anticipated to increase by 3.0% to 3.4%, a slower pace compared to 2025. Wages are projected to rise by 3.4% to 3.6%, with inflation remaining steady at 2.6-3.2%.
In summary, Grand Rapids continues to demonstrate resilience and growth, supported by a strong entrepreneurial ecosystem and significant investments in infrastructure. While the economic forecast suggests a period of slower growth, the city’s commitment to fostering innovation and supporting local businesses positions it well for future prosperity.