Quad Cities Chamber Blog

The Chamber extends a warm welcome to the 14 businesses that became members in April.

Sixty-six Quad Cities students signed letters of intent to launch careers in the QC during the high school apprenticeship Signing Day event. Students from 6 different school districts expressed their commitment to becoming apprentices at 20 different employers throughout the region. 

On Wednesday May 1, the Quad Cities Chamber traveled to Springfield to testify in support of SB2922, the Middle Income Housing Bill, a bill drafted by the Chamber to create new incentives targeted at developers to support new housing development.

May 6 - 10 marks Economic Development Week, a time dedicated to recognizing the pivotal role of economic progress in shaping communities. Created by the International Economic Development Council, we celebrate not only the significance of this week, but also the exemplary leadership of the Chamber's team of experts who spearhead our economic development initiatives. 

In the realm of economic development, traditional metrics like job growth and infrastructure investment remain critical - but the emphasis on livability has emerged as a defining factor in attracting businesses, talent and investment to communities. For those of us who love the QCs, we see the area as a great place to raise a family, afford a home and enjoy a growing cultural scene. Here are a few of the reasons why a region’s quality of life is not just a luxury, but a strategic necessity for sustainable economic development.

The labor market is showing signs of slowing down both nationally and locally as a result of higher interest rates. While higher rates were necessary to fight inflation, the side effect of an economic slowdown has been anticipated for well over a year. This week we look at the specifics of the recent labor market numbers. How much is the labor market slowing down? The question on everyone's mind is whether this slowdown will result in the long-awaited "soft landing" or the hard landing of a recession. What incoming data will help answer that question?

The Iowa Legislative Session is now complete. Bills passed that were supported by the Quad Cities Chamber included: Income and Property Tax Reform, Work-based Learning and the MEGA (Major Economic Growth and Attraction) Program. Read more for a comprehensive list from the Session.

You can celebrate local entrepreneurs by shopping local, engaging with small businesses' social media posts, spreading the word about Small Business Week and encouraging others to get involved.

This week, we look at the first quarter GDP data that was released last Thursday. Also, in recognition of Small Business Week, we turn our attention to the importance of small business in the economy. How much do small businesses contribute to GDP, and how important are small businesses to the labor market? It may be more than you think!

On Tuesday, April 23, 2024 the U.S. Department of Labor (DOL) and the Federal Trade Commission (FTC) issued separate final rules on two major issues: Increases to Overtime Salary Thresholds (DOL) and Nullification of Noncompete Provisions. We're providing information for business owners on actions that should be taken in the short term to understand the impact of these rules and adapt.

On Tuesday, April 23, 160+ local high school students and nearly 30 Quad Cities employers connected at the first Success Symposium, hosted by the Quad Cities Chamber and funded by the Moline Regional Community Foundation. This dynamic event aimed to inspire and guide high school students on the path to their future careers. The Symposium included a hands-on career fair helping to bridge the gap between industry leaders and students eager to explore diverse career opportunities through interactives and live demonstrations.

Recent speeches by Federal Reserve officials have helped move market sentiment away from expecting a summer rate cut. Even though overall economic growth is strong, the lingering inflation creates certain risks that add uncertainty to the economic forecast. This week we discuss some of these risks.

On Tuesday, April 16, the Iowa Senate passed a compromised version of the Major Economic Growth and Attraction (MEGA) Program. This closes two years of work to create a new incentive to help Iowa compete for large-scale economic development projects, defined in the bill as more than $1 billion in investment on a certified site of at least 250 acres. The bill now awaits Governor Reynold’s signature and is expected to take effect quickly thereafter.

The Quad Cities Chamber attended the Illinois Chamber of Commerce Day on the Hill last week and discussed key issues with Illinois legislators. Multiple issues were discussed including the proposal for the elimination of the tip credit for tipped employees, budget talks and economic development incentives for the state. 

The Quad Cities Chamber is celebrating three new apprenticeships scheduled to begin this summer. These apprenticeship programs are part of the Chamber’s strategic vision to address the immediate and future workforce needs of regional employers by leveraging educational assets to address talent pipeline challenges.

Inflation was a little higher than expected last month, sending bond yields higher and diminishing hopes of an interest rate cut in the near future. This week, we discuss the key contributors to inflation and how the current projections for GDP growth may affect the possible timing of the rate cuts.

Quad Cities legacy business, Parr Instrument Company broke ground for its $22 million expansion in Moline on Friday, April 12. The company, which celebrates its 125th anniversary this year, will more than double the size of its existing operation at 211 53rd St., Moline. 

Congressman Eric Sorensen (IL-17) and Congresswoman Mariannette Miller-Meeks (IA-01) introduced the bipartisan Opportunities for Non-developed Sites to Have Opportunities to be Rehabilitated for Economic Development (ONSHORE) Act. The ONSHORE Act establishes the Critical Supply Chain Site Development Grant Program. This program, managed by the Department of Commerce, offers grants to help communities and other eligible groups get sites ready for manufacturing projects in industries that are considered strategically important. 

The Chamber gives a warm welcome to the 12 businesses that became members in March. We thank you for your unique contributions and investment in our region's success.

The national labor market continued its unabated expansion in March, and the local labor market bounced back in February from a small stumble in January. What does all of this mean for the path of interest rates this year? Are we still looking for rate cuts to begin in the summer? This week, we examine the labor market data, considering how expectations have shifted and what upcoming data has the potential to move the markets even more.