MCEDC Executive Director updates commissioners 2024 and 1st quarter 2025

Marshall County Economic Development Corporation Executive Director Greg Hildebrand told the county commissioners that the first quarter of 2025 has been busy. He said, “New administrations at the national, state, and local levels have brought some anxiety and uncertainty to the business sector.”

Hildebrand told the commissioners those early predictions had the economy growing close to the target of 2%, with many expecting one or two federal interest rate cuts in 2025. He said, “With these in mind, we saw several expansion plans that had been considered to come to fruition. I can conservatively say that we had approximately $9M in capex the first quarter with some growth in payroll, but it is too early to really quantify that payroll.”

Reflecting on 2024, Hildebrand informed the commissioners that industries in Marshall County imported 1,568 ocean container shipments. Overland shipments from Canada and Mexico are not included in that number, highlighting how tariffs will significantly impact local production costs.

According to the County Economic Development director, the general consensus among the manufacturers they have spoken with is that uncertainty is the issue. If there is a 25% increase, they can plan and make alternative arrangements to accommodate it. They emphasized their need for clarity regarding what to plan for.

There was some expansion of the existing industry based on new product lines, but automation and efficiency improvements have led the way. Hildebrand said, “While automation has been often portrayed as replacing jobs, this hasn’t really held up in our experience. The automation has been used to replace jobs that often no one wanted to do. It also has increased the need for skilled positions such as robotic technicians and programmers.”  When it makes financial sense, automation increases productivity, which often requires additional personnel in other areas of production or support, Hildebrand told the commissioners. 

Hildebrand said, “This is just one of the reasons we have moved to reporting average wage, per capita income, and additional payroll. These are the keys to the economic engine that drives the local economy.”