Stillwater, Minnesota, renowned for its historic charm and scenic beauty along the St. Croix River, is also a hub of economic activity. The city’s economy is characterized by a diverse mix of industries, including tourism, healthcare, manufacturing, and education.
Thriving Local Businesses
Downtown Stillwater is a testament to the city’s vibrant business community. The area boasts a variety of retail shops, collaborative spaces, and restaurants that cater to both residents and visitors. This success is largely due to the collaborative efforts of the City of Stillwater, the Chamber of Commerce, and local businesses, all working together to enhance the downtown experience.
Economic Development Initiatives
To further support economic growth, the Stillwater City Council established the Stillwater Economic Development Authority (EDA) in 2021. The EDA focuses on analyzing economic development needs, facilitating site assembly, and pursuing public financing for development projects. Additionally, the city offers various business and financial resources, including partnerships with organizations like the Washington County Community Development Agency and the Open to Business Program.
Real Estate and Housing Market
The housing market in Stillwater reflects the city’s economic vitality. As of May 2026, the median listing price for homes was $495,000, with a median sold price of $450,000. The market is considered very active, with homes selling in a median of 26 days. This indicates strong demand and a competitive environment for both buyers and sellers.
Community Development Leadership
In February 2026, Jason Zimmerman joined as the new Community Development Director for Stillwater. With a background in urban planning and a passion for community engagement, Zimmerman is leading efforts to shape the city’s future growth. He is currently working on the Comprehensive Plan, which will guide development efforts for the next two decades.
Stillwater’s economic landscape is a dynamic blend of historical preservation and forward-thinking development. The city’s commitment to supporting local businesses, coupled with strategic planning initiatives, ensures a prosperous future for this vibrant community.