Manitowoc County Economic Update and Outlook
Jeffrey Sachse - There has been much written about the multitude of impacts that the COVD-19 pandemic has had on our communities with volumes left to be written. There is no aspect of our lives in the past year that can be described without disruption. Businesses, events, institutions, and markets have all been forced to adapt in a myriad ways with unprecedented speed. We have started to quantify the magnitude of these shifts both in terms of loss and opportunity. The question that many communities, including those throughout Manitowoc County have started to ask is what comes next? (read the full report online)
Population
The Manitowoc County population decreased by less than 0.1 percent, or 93 residents between 2010 and 2020, according to estimates from the Wisconsin Department of Administration.
Unemployment
The labor market dynamic of Manitowoc County has generally followed regional and statewide trends since the end of the 2007-2009 recession as unemployment rates gradually declined into a range of 2.5 percent to 4.0 percent in recent years.
Industries and Income
Residents may be surprised to find that Manitowoc County has a $3.8 billion economy. In fact, the county’s GDP increased by 3.7 percent between 2018 and 2019.
Outlook and Challenges
At the same time, the county and its communities will have to contend with the pressures of continued growth. Labor competition will build as the labor force continues its sluggish growth. Development pressures will continue as communities compete against each other and in a competitive regional markets for new projects.
