2023 brought nearly $110 Million in Regional Economic Investments to St. Clair County, Michigan

February 19, 2024

The Economic Development Alliance of St. Clair County hosted its Economic Growth Luncheon on Thursday, February 15, 2024.  The organization shared key measures from 2023, including that the region benefited from nearly $110 million in private investment and 273  new jobs from attraction projects, community development,  business expansions and small business development.  Community Development projects led the way with $72 million, followed by the expansion of over a dozen existing businesses investing $28.8 million.  A full breakdown of regional investment is shown below:   

2023 Economic Impact / St. Clair County, Michigan

• Business Attraction (New Business) Investment:  $4 Million
• Business Expansion Investment:  $28.8 Million
• Community Development Investment:  $72.1 Million
• Entrepreneurial Investment (New Capital Formation):  $4.7 Million
• Total St. Clair County, Michigan Economic Investment:  $109,665,157
• New Small Business Starts:  59
• New Jobs Created:  273

"Our region continued to achieve economic growth in 2023 despite facing national and local issues such as ongoing inflation, high interest rates, union strikes and labor shortages.  It’s encouraging to see business development and community development still occurring in St. Clair County  regardless of these challenges, said Dan Casey, CEO of the Economic Development Alliance (EDA). “There are many benefits to growing and boosting the local economy for our residents, existing businesses and our communities.” 

St. Clair County added 168 new housing starts in 2023.  While several new single-family homes, lofts and apartments have been built over the past few years, there is still a demand for increased housing options.    The EDA is working with residential developers, municipalities, brokers and finance professionals on finding ways to break down barriers to build more affordable housing.  This includes single-family homes with a smaller footprint that would appeal to both young families and empty nesters. 

Looking forward to 2024, the EDA will expand its entrepreneurial support services to help more people realize their dream of starting a business and expects to begin the construction of the EDA Business Center after successfully securing additional grant funding in 2023.  The organization has several other initiatives in its workplan, including to attract, retain and support business, increase housing and childcare options in the region and develop and implement a talent attraction campaign to generate awareness and interest in St. Clair County job opportunities and quality of life assets. 

While facing some national economic uncertainty, a continued tight labor market and an upcoming Presidential election, the EDA is optimistic that economic growth in St. Clair County for 2024 will be even better.  Several potential projects are already in the pipeline.  The EDA will continue working with partners and stakeholders in the community to strengthen and boost the economy with the overall goal of enhancing the quality of life and prosperity for all in the region.    

View EDA's 2023 annual report: 

About EDA of St. Clair County
The Economic Development Alliance (EDA) of St. Clair County is a private non-profit organization that provides general purpose economic development services throughout St. Clair County.  EDA offers a wide variety of services involving business recruitment and business retention and expansion with the overall goal of growing the local economy and enhancing the quality of life for residents in St. Clair County.  The EDA of St. Clair County is supported by a membership of the private & public sector businesses and municipal partners passionate about supporting community and economic development.  To learn more about the Economic Development Alliance of St. Clair County visit:  www.edascc.com.