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 blend of traditional industries and modern development initiatives contributes to a dynamic local economy.
Thriving Local Businesses
Downtown Stillwater boasts a vibrant array of retail shops, restaurants, and collaborative spaces. This vitality results from a concerted partnership between the City of Stillwater, the Chamber of Commerce, and local businesses, all working together to enhance the community’s appeal. As Robin Anthony, Executive Director of the Greater Stillwater Chamber of Commerce, notes, “People in Stillwater are passionate about the community in ways I have never seen.”
Economic Development Initiatives
The city’s commitment to economic growth is evident through the establishment of the Stillwater Economic Development Authority (EDA). Formed in 2021, the EDA aims to expand tools for analyzing economic needs, facilitate site assembly, and pursue public financing for development projects. This proactive approach underscores Stillwater’s dedication to fostering a robust business environment.
Real Estate and Housing Market
Stillwater’s housing market reflects its economic vitality. As of May 2026, the median listing price stands at $495,000, with a median sold price of $450,000. The market is characterized by a median of 26 days on the market, indicating a seller’s market where demand outpaces supply. This trend highlights the city’s attractiveness to both residents and investors.
Community Development Leadership
In February 2026, Jason Zimmerman joined as the new Community Development Director, bringing fresh perspectives to the city’s growth strategies. Zimmerman emphasizes the collaborative spirit within City Hall, stating, “I work with a very enthusiastic and team-oriented group of people in City Hall. It’s been easy to step in and build on their positive thinking for the future of Stillwater.” His focus includes advancing the Comprehensive Plan to guide development efforts for the next two decades.
Support for Entrepreneurs
Recognizing the importance of entrepreneurship, Stillwater offers various resources to support local businesses. The city collaborates with organizations like the Washington County Community Development Agency and the Open to Business Program to provide financial assistance, site selection support, and business development services. These initiatives aim to nurture a thriving entrepreneurial ecosystem within the community.
Conclusion
Stillwater’s economic landscape is a testament to the city’s ability to honor its rich history while embracing growth and innovation. Through strategic development initiatives, robust support for local businesses, and a commitment to community collaboration, Stillwater continues to flourish as a vibrant economic hub in Minnesota.