Quad Cities Chamber Blog

Site Selection Magazine ranked both Illinois and Iowa #1 for workforce development in 2024 for their respective regions.

On Monday, Jan. 22, Rock Island Mayor Mike Thoms presented the 2024 State of the City address. Thoms highlighted many items the Chamber supports that align with our legislative agenda’s goals including: supporting small business; encouraging long-term planning for growth, supporting implementation of complete streets in the urban core; promoting redevelopment and revitalization of blighted neighborhoods

Once again economic data came in better than expected with U.S. industrial production up 0.1 percent in December. However, performance was mixed across various industries in 2023. This week, we look at the numbers from 2023 and consider how they moved market expectations for interest rate cuts in 2024. Will rates remain "higher for longer?"

The Chamber’s third Leadership QC cohort is slated to begin on Thursday, Jan. 25. This group of 12 community-minded leaders and change-makers from the area's business and nonprofit world will have a chance to discuss and facilitate solutions to our community's most challenging business and social issues. 

The Illinois legislature reconvened on Tuesday, Jan. 16, and the Quad Cities Chamber was in Springfield meeting with legislators to promote our priorities. As we look at our policy goals, we focus on business and economic growth, quality of place, and workforce.

Inflation was higher than expected in December, but further interest rate increases may not be the answer. This week we look at why housing values may paradoxically move higher in response to high interest rates. Apart from the increase in shelter prices, most other consumer prices continue to moderate, and producer prices fell for the third straight month in December.

The Quad Cities Chamber gives a heartfelt thanks to Dr. LaDrina Wilson for leading our team over the past 18 months as the Chamber’s CEO. Hear from LaDrina as she bids us farewell and recaps her 18 months with the Chamber.

The Quad Cities Chamber is pleased to see Iowa Governor Kim Reynolds’ continued commitment to creating a pro-growth, pro-business environment.

Job growth continues to surprise to the upside with 216,000 jobs added nationwide in December. Unemployment remained unchanged at 3.7%. While job openings were down in most of the country, they were up in the Midwest. This week we examine the national and local job numbers to see which sectors are cooling down and which ones are heating up.

The legislative session in Iowa kicked off this week and the Chamber will be actively advocating for QC businesses with our policy goals focused on business and economic growth, quality of place, and workforce.

The new Illinois Paid Leave for All Workers (PLAWA) law requires that all employees, regardless of employment status, must receive paid time off benefits. The Chamber urges the U.S. Department of Homeland Security to avoid adoption requirements that would narrow eligibility for H-1B visas.

The big economic story of 2023 was what didn't happen. The much-expected recession never arrived. While it appears that a recession may have been avoided, at least for now, the increase in interest rates and the value of the dollar provided some headwinds for the local economy in 2023. This week, we look back at 2023 and look ahead at how expected interest rate cuts in 2024 could provide some relief.

County level real GDP growth data for 2022 was recently released by the Bureau of Economic Analysis. A revision to previously released data was also included. With the revisions, we learned that the COVID-19 recession was not as severe for the Quad Cities area as we initially thought. As a result, the rebound the following year was also less than originally thought. This week we take a look at the numbers for each of the counties in the Chamber's service area.

Job growth in the U.S. remains strong, but the trend is decreasing. Job openings nationwide decreased in October by more than expected. However many analysts still believe that a recession can be avoided. This week we look at some of the strengths and weaknesses in the U.S. labor market data and the implications for 2024.

The Quad Cities Chamber congratulates Bill Ratzburg on his retirement! We thank him for creating the Manufacturing Hub and providing guidance to help manufacturers throughout the region.

The Quad Cities Chamber announced Wednesday that Peter Tokar III, MBA, MEDP will be the next President & CEO starting mid-January 2024. Tokar brings over 17 years of experience serving economic development organizations and municipalities in large markets where regionalism has been a key component of success. He has worked closely with chambers, state and local economic development practitioners, site selectors and elected officials, as well as raised funds from public and private sector sources.

We welcomed 18 new members in September - November and you're encouraged you to reach out and get to know these businesses.

Inflation showed further signs of cooling in October as the Fed's preferred inflation gauge was unchanged. Meanwhile, real GDP was revised upward from 4.9% to 5.2% for the third quarter. How did Wall Street react? This week we examine how the news could affect prospects for interest rates in the new year.

Kevin Depew, RSM Deputy Chief Economist, was the keynote speaker at the Quad Cities Chamber’s Economic Forecast and provided an in-depth analysis of the national and regional economy to help QC businesses prepare for the coming year.

If comments from the first cohort of the Generation Next program are any indication, it won’t be long to see new names stepping forward to embrace wider roles in the civic life of the Quad Cities. Applications are now being taken for the second cohort of up to 40 participants who will begin their journey in January to learn more about getting involved in the QC community through board and committee service.