Target Industries

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While Grand Rapids pursues all opportunities to diversify our economic base, we recognize that our individual and regional economic characteristics and resources match well with, and provide a superior location advantage for certain industry classes.

Through a target industry analysis prepared for GREDA in 2005, the following industry classes were identified as “Best Fit” targets:

 

Industry Classification and Sub-Group	NAICS
Wood Products/Furniture Manufacturing and Suppliers           Chipper Plant	321,327
Chemical Related           Bio-Fuel Production and Supplies           Calcium Carbonate Supplier           Latex Supplier           Chemical Supplier	325
Industrial Machinery Manufacturing           Industrial Supplies           Maintenance/Pump Repair Contractor Shops           Plumbing/HCAC Contractor Shops           Machine Shops           Wood, Paper, and Mining Related	333
Transportation Equipment Manufacturing           Track/Frame/Rail Assembler           Wood, Paper, and Mining Related	336
Paper Manufacturing and Suppliers	322
Telemarketing Bureaus/Contact Centers	561
Transportation and Warehousing	482, 484, 488, 489
Others           Cement Block Manufactures           Landscape Services

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Economic Strengths

Some of the many positive economic attributes identified in the 2005 analysis which lead to these “Best Fit” targets, were strengths such as:

                                 
•    Labor Costs - Target employers can save approximately 14% in wage costs over Minneapolis – St. Paul location by locating in Grand Rapids
•    Labor Availability – Very good labor availability can support 5-7 target locationsin the 50-100 job range.
•    Labor Quality– Excellent labor quality was reported by local employers.  Labor Quality Index indicates “Overall labor quality is among the best in the Midwest.
•    Education– Local businesses rate Grand Rapids’ secondary schools and Itasca Community College, in Grand Rapids, very highly.  Itasca’s Vo-tech training programs offer many disciplines that will benefit target industries.
•    Electric Power – Grand Rapids Public Utilities’ electric rates are lower than all competitors in the region.
•    Water and Sanitary Sewer –Grand Rapids has excess sanitary sewer capacity (6-7 GPD), which provides an ability to handle large industrial loads, and is implementing system-wide water transmission upgrades.
•    Telecommunications – The new telecommunication infrastructure in Grand Rapids can handle virtually any modern business need.
•    Sites – Grand Rapids has a wide variety of improved sites at competitive prices and now also includes large sites with rail access.
•    Cost of Living/Quality of Life– “Grand Rapids is a very unique small town offering many cultural and educational advantages that other small towns do not.  This is due, in part, to the generosity of the Blandin Foundation.  The community is very attractive from a shopping, cost of living, cost of housing, schools and recreational point of view.”