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Published in Economic Development
West Michigan economic development agency The Right Place issues a twice-a-year survey of Grand Rapids area businesses. That effort is led by (left to right) Brent Case, Vice President of Business Attraction; Eric Icard, Senior Director of Business Development; Olivia Lanctot, Coordinator of Business Development; Rafael Martinez, Manager of Business Intelligence & Research. West Michigan economic development agency The Right Place issues a twice-a-year survey of Grand Rapids area businesses. That effort is led by (left to right) Brent Case, Vice President of Business Attraction; Eric Icard, Senior Director of Business Development; Olivia Lanctot, Coordinator of Business Development; Rafael Martinez, Manager of Business Intelligence & Research. COURTESY PHOTO

Survey: West Mich. biz outlook strong as companies eye expansions, recruiting woes ease

BY Thursday, April 21, 2022 10:44am

Business leaders voiced strong confidence in the West Michigan economy in a recent survey by economic development organization The Right Place Inc.

Of the 138 businesses that The Right Place staff met with during March, executives at 57 percent said their company had expansion plans, usually through capital investments or hiring more staff. The survey’s findings are “an indication that area business leaders are feeling confident in the future,” according to The Right Place.

“Overall, we see an optimistic business community planning for continued growth through 2022,” CEO Randy Thelen said in a news release.

Nearly three-quarters of business leaders told The Right Place staff that their company’s sales are increasing while just 4 percent reported decreased sales.

Recruiting issues eased slightly from the organization’s last survey in June 2021, as 48 percent of employers reported difficulty filling open positions compared to 53 percent last year. The remaining 52 percent reported “no recruitment issues” in March.

Nearly four out of 10 employers said they have invested more in workforce training in response to the labor shortage to raise retention rates.

Of the employers The Right Place staff met with in March, more than three-quarters employ less than 100 people and 20 percent employ 100 to 500 workers.

The Right Place’s market area covers Kent, Ionia, Mason, Mecosta, Montcalm, Newaygo, Lake, and Oceana counties.

Read 727 times Last modified on Thursday, 21 April 2022 11:01
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