Quad Cities Chamber Blog

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.

The Quad Cities Veteran Network has been active in the Quad Cities for the past five years, hosting monthly meetings at local establishments. Founded by Bryan Miller (SERCO) and Dave Underwood (John Deere), the organization serves as a mechanism for helping veterans find jobs after leaving the military.

Housing values in the Quad Cities area continued to increase at a moderate rate in 2023 consistent with the average appreciation over the last few years. However, the housing in the Quad Cities remains quite affordable compared to other parts of the country. While the national headlines say that housing has become significantly less affordable since the start of the pandemic, the story is much different locally. This week, we look at some key indicators in the housing market that showcase how the Quad Cities differs from other parts of the country.

The greatly anticipated Amazon Robotics Fulfillment Center at 2022 Research Parkway in Davenport opened in October 2023, and in the months since, has employed 1,500 Quad Citizens with plans to hire 300 more in the next month. Jobs at the location offer full and part-time positions starting at $17.50/hour, plus industry-leading benefits. Innovative programs for hourly employees like Career Choice prepay tuition to enhance employees' education and skills training.

The Chamber has been actively promoting legislation in Illinois related to housing and development, and has engaged our local legislators on additional business-related topics including  a number of workplace regulations that change the employer-employee relationship. Deadlines on legislation are quickly approaching and now is our opportunity to ensure we achieve a positive outcome this session.

Conflicting readings on inflation are making the Federal Reserve’s decision on when to cut interest rates more difficult. The consumer price index (CPI) rose 0.4% in February and 3.2% over the last twelve months. What effect will this have on the Federal Reserve's plan to lower interest rates this year? This week, we examine the prospects for inflation and interest rate cuts in relation to the latest data.

Get set to kick your networking game up a notch. The Chamber's most anticipated after-hours event is almost here and you won't want to miss it. Hob Nosh, presented by Mediacom Business and TBK Bank, is making its return on Thursday, April 11 from 5 to 8 p.m. at the Waterfront Convention Center in Bettendorf. 

Last Friday, March 15, the Iowa Legislature completed its second funnel and has determined which bills it will focus on passing this session. In other news from the Legislature, the Iowa Revenue Estimating Conference released its Estimate of General Fund Receipts. This report sets the limit for spending unless it's for the Legislature's FY25 negotiations.

The Quad Cities Chamber traveled to the Illinois Capitol on Wednesday, March 20 for a day of impactful conversations with Illinois top legislators and our local members of the general assembly. Discussions included the need for new programs to support middle-income housing, overregulation of employer-employee relationships and the final push for passenger rail in our region.

Job growth remains strong nationally, but the unemployment rate rose slightly in February. Locally, employment is starting to decline, although the unemployment rate is still comparable to pre-COVID levels for this time of year. This week we outline some of the concerns about the labor market and how the situation is complicated by the national inflation picture.

Chris Caves, Vice President, Business & Economic Growth at the Chamber received her Certificate in Workforce Development Fundamentals. This joint certificate program empowers professionals with the knowledge and tools needed to navigate the intersection of economic and workforce development while closing education gaps. Each certificate recipient completed an intensive and comprehensive 6-week curriculum,

Chamber membership numbers are strong as we begin 2024.

The Quad Cities region ranked in the Top 10 Mississippi River Corridor metros by Site Selection Magazine. The rankings, which include all metro regions along the Mississippi River corridor, are based on corporate facility investment projects that meet certain criteria.

The U.S. trade deficit rose in January following a significant decrease in the deficit for the 2023 calendar year. Local trade statistics for 2022 are now available, and the Quad Cities moved up the rankings from 52nd to 47th largest exporter among U.S. metropolitan areas. In the category of manufacturing of machinery, the Quad Cities ranked in the top-10 metro areas. This week, we look at the Quad Cities top exporting industries and what to expect in 2024.

President Joe Biden touched on issues impacting the Quad Cities in his State of the Union address, with both positive and negative impacts on our region. Site-readiness, workforce issues - including education and immigration - and the tax structure are all key concerns for the Quad Cities Chamber. 

On Thursday, March 7, East Moline Mayor Reggie Freeman delivered the 2024 State of the City address, highlighting key accomplishments and priorities from the past year. East Moline's cohesive plan aligns with the Chamber's priorities, focusing on investments in downtown and riverfront amenities, as well as attracting new businesses to the area.