|The Lansing Regional Chamber of Commerce (LRCC) and Lansing Economic Area Partnership (LEAP) partnered to sponsor the inaugural State of the Lansing Region report. Upon receiving support from the area’s business community and local stakeholders, the two organizations commissioned Anderson Economic Group to conduct a benchmarking study for the Lansing region.
In this study, we identify peer regions for the Lansing region, specify benchmarks, collect necessary data, and compare Lansing to its peer regions. The benchmarking report compares the Lansing region on 42 indicators relative to 11 peer regions. The report concludes with a spotlight on four key regional industries.
The State of the Lansing Region benchmarking report notes five areas of strength for the Lansing region compared to the peer regions. These include: (1) growth in median household income, (2) low housing costs, (3) growth in STEM degrees awarded, (4) university research expenditures growth, and (5) high Gen Z population. The report also identified areas of opportunity for the region to focus on. These include growing our (a) private sector employers, investors, and entrepreneurs, (b) population growth, and (c) education attainment.
The report will be updated twice in the following two to four years to track improvements in each of the rankings.
It is important to note that this analysis was conducted in the fall of 2019 and was being finalized in early 2020 as the coronavirus (COVID-19) pandemic emerged. The pandemic has been painful for Lansing area residents and businesses, as it has for our peer regions and for communities across the country. However, as our economy heals from the shock, it is more important than ever for business owners and community leaders to take stock of our strengths and opportunities. For this reason, the factual data contained in this benchmarking study is a critical component in supporting the community’s pandemic response.
See the State of the Region website for the report, background information, and additional materials.