Stillwater, Minnesota, renowned for its historic charm and scenic beauty along the St. Croix River, has cultivated a robust and diverse economy. This success is largely attributed to the collaborative efforts between local businesses, the city government, and community organizations.
Economic Development Initiatives
The City of Stillwater has been proactive in fostering economic growth. The establishment of the Stillwater Economic Development Authority (EDA) in 2021 exemplifies this commitment. The EDA focuses on analyzing economic development needs, facilitating site assembly, and exploring public financing options for development projects. This initiative aims to enhance communication and collaboration with the local business community, ensuring a supportive environment for both new and existing enterprises.
Support for Local Businesses
Local organizations, such as the Greater Stillwater Chamber of Commerce, play a pivotal role in supporting businesses. Executive Director Robin Anthony highlights the community’s unique spirit: “People in Stillwater are passionate about the community in ways I have never seen. Whenever there is a problem, we come together and find solutions to bring people downtown and create better experiences for the people who live here.” This collective approach has led to a vibrant downtown area, bustling with retail shops, collaborative spaces, and diverse dining options.
Housing Market Trends
Stillwater’s housing market reflects the city’s economic vitality. As of June 2026, the median listing price for homes was $632,450, marking a 9.08% increase year-over-year. The median sold price stood at $476,500, with homes spending an average of 37 days on the market. These indicators suggest a balanced market, offering opportunities for both buyers and sellers.
Job Market and Major Industries
The local job market is bolstered by a diverse mix of industries, including healthcare, tourism, manufacturing, and education. This diversity provides stability and a range of employment opportunities for residents. The city’s strategic location, combined with its economic initiatives, continues to attract businesses and professionals alike.
Looking Ahead
With the recent appointment of Jason Zimmerman as the Community Development Director, Stillwater is poised to continue its trajectory of meaningful growth. Zimmerman is actively working on the Comprehensive Plan that will shape the city’s development efforts for the next two decades, ensuring that Stillwater remains a desirable place to live, work, and visit.
In conclusion, Stillwater’s economic success is a testament to the power of community collaboration and strategic planning. By fostering a supportive environment for businesses and residents, the city continues to thrive and adapt to the evolving economic landscape.