OCEA: Local economy strong, remains well positioned for 2024

Paul Welitzkin, The Petoskey News-Review
·2 min read

GAYLORD — The economy of Gaylord and Otsego County is thriving and the outlook for 2024 is strong, according to Lisa McComb, executive director of the Otsego County Economic Alliance.

Speaking at the alliance's (OCEA) annual partner celebration on Oct. 11 at Treetops Resort, McComb said tourism and lodging are two standout performers.

"I just had a conversation with one of our hotel managers and for October they have been at 70-90 percent occupancy. I know from other conversations that we are a solid county and our economy continues to grow," McComb said.

Lisa McComb, executive director of the Otsego County Economic Alliance, told the organization's partner conference on Oct. 11 that the local economy is thriving and the outlook for 2024 is strong with about 265 jobs expected to be created.
Lisa McComb, executive director of the Otsego County Economic Alliance, told the organization's partner conference on Oct. 11 that the local economy is thriving and the outlook for 2024 is strong with about 265 jobs expected to be created.

The OCEA is projecting that 265 new jobs will be created in the county next year. Businesses will invest about $40 million and there should be $10 million invested in private housing development.

"We know there will be at least seven new businesses in the county next year," said McComb. "We are working really hard to get that single-family home development in. If that happens, it will be a $9 million investment in housing for the next two years."

She was referring to the proposal from Woda Cooper Companies to build single-family homes on a vacant 18-acre parcel of land between West Street and I-75 in Gaylord.

McComb said projects like that will begin to address the need for housing in the county.

"As we address the housing needs we are going to see more employers look up here. Based on (the future addition) of Menard's and other investments, (employers) will look at this region knowing that it can supply a work force," she said.

McComb said child care will also emerge as a need along with housing.

"We are already seeing that in our own county along with other communities. Child care providers right now can't match what is being paid in the work force to bring in additional help to meeting licensing requirements. Some providers who can take on 12 kids are only taking on six. They can't meet that wage and still keep the cost of child care low," McComb said.

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Sarah Lucas, director of the Michigan Department of Agriculture and Rural Development’s Office of Rural Development, discussed economic development in rural areas like Northern Michigan. In 2022, Gov. Gretchen Whitmer established the office to focus on the strategic needs of rural Michigan, including economic and workforce development, infrastructure, public health, and environmental sustainability.

Sponsors for the OCEA conference included Fifth Third Bank, Great Lakes Energy, Catt Development, city of Gaylord, Edward Jones, Gaylord Area Chamber of Commerce, Munson Otsego Memorial Hospital, Otsego Community Foundation, Paxton Resources, Smith Realty Group, State Savings Bank, The Team Real Estate group and Treetops.

— Contact Paul Welitzkin at pwelitzkin@gaylordheraldtimes.com.

This article originally appeared on The Petoskey News-Review: OCEA: Local economy strong, remains well positioned for 2024