Quad Cities Chamber Blog

There was good news on the inflation front last week as the Consumer Price Index actually decreased slightly in June. What sectors of the economy contributed the most to inflation reduction? How does the Midwest compare with the rest of the country on inflation? We answer those questions this week and discuss why the progress on inflation is so important.

Significant progress and developments have taken place over the past four years to enhance and grow the defense industry in the Quad Cities. The Rock Island Arsenal Defense Alliance (RIADA) advocated for RIA's designation as the Army’s Advanced Manufacturing Center of Excellence (AM COE) and securing the funds for the world’s largest metal 3D printer.

The Chamber extends a warm welcome to the businesses that became members in June. Thank you for your unique contributions and investment in our region's success.

Growth in the U.S. labor market is slowing down very gradually. The headline number is still positive, although there are signs of weakness under the surface. This week we look at the numbers beyond the headlines and consider the implications for the Federal Reserve's upcoming interest rate decision and the possibility of a "soft landing" for the economy.

One of the defining features of summer in the Quad Cities is the John Deere Classic. For volunteers, JDC employees - and vendors, of course - this event marks one of the busiest times of the year and gives a significant economic boost to local businesses. For several local companies, being a JDC vendor is not only good for business, it’s both fun and fulfilling. Whitey's, Uncommon Ground and Edwards Creative continue to support the Classic and have become fan favorites in their own right.

This week we look back on the first half of 2024 and ahead to the second half. As expected, the national and regional economies have slowed down since the start of the year. The question remains whether this is the much anticipated "soft landing" or something more? We examine some of the factors to consider when forming expectations of the economic and business climate for the remainder of 2024.

The latest numbers on U.S. manufacturing output show a slowdown in the pace of growth, but the direction is still positive. This week we discuss how this data fits into the big picture with inflation and interest rates.

Programs that might be of interest to local employers facing layoff decisions are the WorkShare IL program and Iowa’s Voluntary Shared Work Program.

Workforce is a critical piece of the economic development puzzle. Good data on labor supply is even more important now as many industries and regions face labor shortages of varying severity. In an effort to supply this data to our stakeholders, the Chamber has published our Graduate Inventory Report summarizing degrees granted in the Quad Cities area. This week we discuss the report and its place in the economic development landscape.

Ranews Companies, a Georgia-based manufacturer known for its “Product Solutions” philosophy is celebrating its Quad Cities expansion into Davenport. Company officials joined Quad Cities Chamber leaders in a ribbon cutting on Tuesday, June 18, at the Ranews plant at 8360 Research Drive in the Eastern Iowa Industrial Center.

River Cities Engineering commemorated its 20th anniversary and expansion into a new building with a ribbon cutting on June 13. The new building provides the company with 10,000 additional square feet. Ten new jobs were created, with a total number of employees at 60. The new location at 323 Research Parkway in Davenport, is the site of the former Humvee dealership. The move marks a significant milestone for River Cities - providing the company with ample space for its panel shop and room for a new training center.

Mayor Mike Matson gave Davenport’s annual State of the City Address, the final address from our Quad Cities communities. The mayor highlighted efforts to address fiscal strength, economic development, infrastructure and public safety.

U.S. nonfarm payroll employment beat expectations yet again, but local employment has contracted slightly since last year. Even so, the unemployment rate remains low (about 4%) both locally and nationally. This week, we consider why labor market data can be tricky to read and explain why we should pay attention to more than just the headlines from the establishment survey.

The Illinois Legislative Session is now complete. Read a final recap and list of bills that passed or did not pass and the Chamber's position on them. Bills that passed that were supported by the Chamber included the River Edge Redevelopment Zone (RERZ) and Worker's Compensation Legislation.

The Chamber extends a warm welcome to the 10 businesses that became members in May. Thank you for your unique contributions and investment in our region's success - you are making an impact. We strive to give each member the opportunities and resources to advance their business and strengthen the community.

The Illinois Commerce Commission (ICC) initiated Future of Gas Proceedings earlier this year to analyze the role of natural gas in the state’s decarbonization goals and you have an opportunity to be a part of the process by commenting before the end of the day on Friday, June 7. These proceedings are meant to inform the ICC on topics that need further discussion and analysis by the Commission as they determine the future of natural gas consumption in Illinois.

U.S. exports and imports were higher in the first quarter of 2024 than in the same quarter last year. What industries increased exports the most? This week, we consider this question and explain why a policy decision in Europe could affect future export growth in the U.S.

Manufacturers have been thriving in the QCs for generations, and the reasons are no surprise - proximity to food commodities, raw materials and an abundant water supply – not to mention access to 3 major highways, rail, barge and air transportation. Meet the companies succeeding here in the QC - PCT Ebeam and Integration, Mississippi River Distilling Company and Agrisolutions.

All three major stock market averages hit new record highs in the month of May as corporate earnings continue to surpass market expectations. Bond yields surged again in April. How do the events of Wall Street affect what happens on Main Street, or vice versa? This week, we explain these connections and why a major data point to be announced on Friday is so critical.

Inflation is coming down, though perhaps not as quickly as some would like. What sectors of the economy are still seeing inflation, and why? How do various measures of inflation tell us different things about how consumers are affected by price increases? This week we answer these questions and explain why the latest news on inflation was better than what we have seen in the last few months.