Stillwater, Minnesota, renowned for its historic charm and scenic beauty along the St. Croix River, continues to evolve as a vibrant community with a dynamic economic landscape. This article provides an overview of the city’s economic development, housing market trends, and initiatives supporting local businesses.
Economic Development and Community Growth
In February 2026, the City of Stillwater appointed Jason Zimmerman as the new Community Development Director. Zimmerman is leading efforts to shape the city’s future through the Comprehensive Plan, which will guide development for the next two decades. His focus includes fostering meaningful growth and enhancing the quality of life for residents.
Housing Market Trends
As of May 2026, Stillwater’s housing market reflects a median listing price of $495,000, indicating a robust market for sellers. The median sold price stands at $450,000, with homes selling in a median of 26 days. These figures suggest a seller’s market, characterized by strong demand and limited inventory.
Support for Local Businesses
The city actively supports local businesses through various initiatives. The Stillwater Economic Development Authority (EDA), established in 2021, provides tools for economic analysis, site assembly, and public financing of development projects. The EDA collaborates with the local business community to foster a thriving economic environment.
Additionally, the city partners with organizations to offer financial assistance to businesses with unique development needs. Programs such as Tax Increment Financing (TIF), Tax Abatement, and the Washington County Open to Business Program are available to support viable projects.
Community Initiatives and Events
Stillwater’s commitment to supporting local businesses extends beyond financial resources. Events like the World Snow Celebration attract thousands of visitors, boosting the local economy and providing exposure for businesses. The city’s collaborative efforts with the Chamber of Commerce and local enterprises ensure a vibrant community atmosphere year-round.
In summary, Stillwater’s economic landscape is characterized by strategic development, a strong housing market, and robust support for local businesses. These elements contribute to the city’s ongoing growth and prosperity, making it an attractive place to live, work, and invest.