LANSING, Mich. (Michigan News Source) – The stock market was very generous to municipalities in 2024 providing them with record levels of revenue, according to recent budget filings.

Take the cities of Lansing and Ann Arbor, for example.

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The city of Ann Arbor reported investment earnings of $10.3 million in 2024, a large increase over the $3.4 million it registered in 2023. But cities don’t always end up in the red while investing in the stock market. Ann Arbor reported losing $3.3 million in investment earnings in 2022.

The city of Lansing had a similar performance. It reported $10.9 million in investment earnings in 2024, far above the $3.2 million it had in 2023. Lansing lost $94,154 in investment earnings in 2022. The stock market was especially kind to the city the past two years with $14.1 million combined in investment earnings. The city didn’t break $1 million in investment earnings previously as far back as 2014.

The financial firm Morgan Stanley reported that 2024 was a good year for the stock market despite higher interest rates and rising unemployment that didn’t put a dent in earnings.