The Heartland’s Economic Momentum
A growing number of cities across the American Heartland are experiencing sustained economic growth. Columbus, Tulsa, Grand Rapids, and Nashville have seen steady increases in investment, employment, and population since 2020.
The region's performance reflects long-term structural trends, including the expansion of advanced manufacturing, the relocation of businesses, and a rise in skilled labor. Economic data from 2020 to 2024 shows that the Heartland is not only growing—but increasingly playing a central role in the country’s industrial and workforce landscape.
From 2020 to 2024, the 20-state region stretching from Texas to Minnesota saw a rare convergence: rising business investment, accelerated population inflows, and measurable gains in productivity and employment. The region added more employers (+13.2%) and invested more capital (+9.43% annual growth in nonresidential expenditures) than the national average. GDP growth across the region outpaced other areas for the first time in decades, and—most notably—population growth in the Heartland exceeded the national average for the first time since 1959.
A Rebalancing of Opportunity
These changes reflect a growing alignment between what individuals and companies value—affordability, infrastructure, connectivity, and talent—and what many Heartland cities are now positioned to offer.
In Columbus, Ohio, Intel’s $28 billion semiconductor campus is already reshaping the region’s industrial footprint. It’s the largest private-sector investment in the state’s history and a signal of where future supply chains and workforce strategies are headed. Elsewhere, cities are rolling out structured incentive programs to attract both skilled talent and high-growth businesses—combining tax relief, housing grants, and innovation district investments into comprehensive relocation strategies.
Home prices in many Heartland metros have climbed over the past five years—rising between 17% and 47% in places like Nashville, Indianapolis, and Grand Rapids—but they remain comparatively affordable. For professionals and families seeking a higher quality of life with more attainable housing, these cities offer strong alternatives to traditional high-cost coastal centers.
Building from the Center
What’s happening in the Heartland it’s being sustained through coordinated effort, from bank lending to broadband access to long-term workforce development.
Lending data from 2024 shows banks in the Great Lakes and Plains states grew business loan portfolios at five times the national average, a clear signal of regional business formation and reinvestment.
Cities like Austin, Nashville, and Minneapolis have now emerged as leading destinations for college graduates, while smaller metros like Florence-Muscle Shoals (AL), Lima (OH), and Lawrence (KS) are seeing growth in creative class and knowledge-based jobs. According to Heartland Forward’s Heartland of Talent 2025 report, these regions are not only attracting talent—they’re developing it, with increases in both degree attainment and workforce participation in tech, manufacturing, and professional services.
Infrastructure, Innovation, and Inclusion
A key enabler behind this economic rise is digital access. Broadband expansion across the region has allowed more professionals to work remotely, more entrepreneurs to operate in rural towns, and more residents to engage with education and healthcare systems online.
In Arkansas and Oklahoma, initiatives like Heartland Forward’s telehealth program and rootEd college access initiative are creating pathways to digital inclusion that support workforce stability in the long term. These investments—often in partnership with libraries, school districts, and local employers—form part of the quiet architecture of growth that underpins the Heartland’s current momentum.
Looking Ahead
The Heartland continues to expand its role in the national economy. Today, cities across the region are advancing in sectors like technology, advanced manufacturing, logistics, and healthcare. These metros are supported by competitive infrastructure, strong regional talent, and targeted investments that are sustaining long-term growth.
At 42, we help organizations make sense of this evolving map. Whether it’s understanding talent shifts, entering new markets, or hiring for long-term growth, we work alongside leadership teams to align their strategies with the places where opportunity is taking shape.
References
BROOKINGS. Growing from the middle out: an economic model of good jobs for the heartland, by the heartland. 2023. Available in: https://www.brookings.edu/articles/growing-from-the-middle-out-an-economic-model-of-good-jobs-for-the-heartland-by-the-heartland/. Accessed on: May 14th, 2025.
TULSA INNOVATION LABS. Tulsa’s Tech Hub, explained. [s.d.]. Available in: https://www.tulsainnovationlabs.com/blog/tulsas-tech-hub-explained. Accessed on: May 14th, 2025..
STATHIS, Jaime. Americans are moving to the heartland states—and it’s causing home prices to spike. Reader’s Digest, 05 maio 2025. Available in: https://www.rd.com/article/americans-moving-to-heartland-states-2025/. Accessed on: May 14th, 2025.
REALTOR.COM. As Americans migrate, home prices rise in surprising places. [s.d.]. Available in: https://www.realtor.com/news/trends/united-states-migration-home-prices-rise/. Accessed on: May 14th, 2025.
LEONHARDT, Megan. The remarkable revival of America’s Heartland—and whether it can last. Barron’s, 11 abr. 2025. Available in: https://www.barrons.com/articles/america-economy-recovery-heartland-2194730b. Accessed on: May 14th, 2025.
COLUMBUS BUSINESS FIRST
GHOSH, Carrie. Nationwide economist: Economic outlook for 2025 'pretty solid'. Columbus Business First, 17 fev. 2025. Available in: https://www.bizjournals.com/columbus/news/2025/02/17/nationwide-economist.html. Accessed on: May 14th, 2025.
KANSAS CITY BUSINESS JOURNAL
DORNBROOK, James. KC economists: Expect good news in first part of 2025 to morph into challenges. Kansas City Business Journal, 17 jan. 2025. Available in: https://www.bizjournals.com/kansascity/news/2025/01/17/2025-economic-forecast-inflation-concern.html. Accessed on: May 14th, 2025.
