Rural Innovation and Tech Entrepreneurship
In Traverse City, founders and entrepreneurs find a supportive startup ecosystem that includes business incubation services, pitch competitions, access to capital, tech talent, a network of accomplished business leaders, and other business resources. The result is a community that offers both a picturesque small-town lifestyle and a robust environment for growing businesses.
In 2022, the Traverse City Micropolitan area was ranked #17 in the Economic Strength Rankings amongst all 543 U.S. Micropolitan Statistical Areas by POLICOM Corporation, an independent economics research firm which specializes in analyzing the dynamics of local and state economies.
Micropolitan Economic Regional Hub
The Grand Traverse region is the economic hub of Northern Michigan. Its diverse local economy has seen many transitions over time, originating in the 1850s with the start of the Sawmill at the mouth of the Boardman River.
In the 1950s John Parson and Frank Stulen patent the first CNC -or Computerized Numerical Control- technology in Traverse City beginning the “Second Industrial Revolution” for this area. This became the industry standard for which they received the National Medal of Technology & Innovation the nation’s highest award for technological advancement. Presently, Traverse City’s diverse economy now is home to world leaders in manufacturing, technology, and agriculture, all rooted in one of the most naturally beautiful towns in America and we seek to expand our technological innovation footprint.
A Growing and Diverse Regional Economy
Gross Domestic Product (GDP) Grand Traverse County (2019)
Public Sectors $931,381
Health Care and Social Assistance $839,898
Finance and Insurance $469,325
Mining, Quarrying, and Oil and Gas Extraction $22,574
Accommodation and Food Services $290,594
Wholesale Trade $183,828
Real Estate and Rental and Leasing $580,367