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Summit is considered a Small Town with a population of 291 and 72 businesses. 3 in 2018 were added to the Summit Chamber of Commerce business directory which was more than 2017 which had 0.

The economy of Summit employs 221 people and has an unemployment rate of 4.7%. Some of the largest industries in Summit are Professional Services (8),Crop Preparation Services For Market (5), and Builders & Contractors (4).

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