FOCUS Magazine is the Lansing Regional Chamber of Commerce’s monthly business publication designed to keep members up-to-date on economic, business and member news, and Chamber events and services while also keeping members informed on legislative and industry happenings. Cinnaire CEO Mark McDaniel recently sat down with the Lansing Chamber to share his expertise and weigh in on the impact of the housing crisis in Lansing.
FOCUS Magazine: The Impact of the Housing Crisis
In many respects, Greater Lansing’s economy is posted for robust growth. The region has made a strong comeback amid the Covid pandemic, despite the supply chain challenges, labor shortages, and inflation. Reasons for optimism were dramatically bolstered by the announcement in 2022 from General Motors and Ultium Cells that their partnership will invest $2.6 billion for a new EV battery plant to be constructed in Delta Township. That move positions the region to be at the forefront of the electric vehicle revolution and the thousands of jobs that come along with it.Â
Multiple industry sectors are flourishing in the region, promising even more growth. However, beneath the surface is a concern that could hamper growth: can the region produce enough quality housing to support the workforce? For many communities, housing is the lynchpin that is key to sustained economic growth.
“Housing is the platform that you need to have to build the economy around,” said Mark McDaniel, Cinnaire CEO. “If you don’t have adequate housing that is affordable for all income ranges, you don’t have a healthy community.”
