Lakeshore Advantage charts a new path to boost regional growth

What’s happening: Lakeshore Advantage, the economic development organization for Allegan and Ottawa Counties, has released its 2025 Industry Trends Report, detailing the region’s economic status and highlighting growth challenges. 

Based on interviews with over 130 local executives conducted from July 1, 2024, to June 30, 2025, the report shows that a majority of those interviewed reported increased or stable sales, but fewer reported plans to expand in the next three years.

Why it’s important: Lakeshore Advantage conducts business retention interviews with a sample of the region’s more than 600 primary employers—businesses that export goods and services outside the area, bringing wealth and jobs into the region—to understand their challenges and identify opportunities for growth.

What they’re saying: “We’re grateful to the business leaders who take time to share honest and detailed insights with us,” says Jennifer Owens, president of Lakeshore Advantage. “Their input is invaluable—it’s the primary research that guides our work and helps us design economic development strategies tailored to the needs of our region’s businesses.”

What are the takeaways: The report identifies key themes of the barriers to growth that these businesses face. The report identifies a lack of workforce housing, continued demand for talent, industrial real estate scarcity, and rising costs as top barriers to growth. The demand for talent shows a downward trend; however, the survey shows persistent gaps for skilled labor positions, including mechanical technicians, software developers, and hardware engineers. The work ahead to attract and retain the necessary workforce is a focus of Lakeshore Advantage’s NextGen Talent initiative. Other findings include:

• 85% of businesses reported stable or increased sales, compared to 89% last year.
• 33% reported plans to expand in the next three years; last year, 41% reported plans to expand.
• 40% of businesses surveyed reported recruitment issues, a decline from previous years when demand for talent spiked following the Covid-19 pandemic. 
• 76% of companies introduced new products in the past two years.

What’s next: “This research helps us meet the demands of businesses, to step alongside them where they’re at to connect them to resources and to each other,” says Amanda Murray, vice president of business solutions for Lakeshore Advantage. “It lets us know where to focus our efforts to ensure this region continues to thrive in the long term.”

Where to learn more: The full report is available on the Lakeshore Advantage website: https://lakeshoreadvantage.com/it-2025/