Weekly Economic Trends and Indicators
This week we depart from the usual news headline-oriented topics to take a deeper dive into some background data on the Quad Cities region. The data featured this week can be found on the Chamber’s economic and demographic data dashboard. Users can obtain data on each county individually or the total for the region.
The top-left number on the dashboard is perhaps the most important for economic activity. Total GDP for the region in 2022 was over $31 billion in current dollars (not adjusted for inflation). For comparison, total U.S. GDP in 2022 was about $25.7 trillion. Comparing ourselves to our two home states, the Iowa side of the Quad Cities (Clinton, Muscatine and Scott Counties) accounted for 7.4% of Iowa’s GDP. The Illinois side (Henry, Mercer and Rock Island Counties) accounted for 1.4% of Illinois’s GDP. For context, Illinois’ GDP is roughly 4 times as large as Iowa’s due to the large concentration of activity around the Chicago area.
The population of the Quad Cities area has remained stable since 2010 with about 0.84% growth overall. While Scott and Rock Island Counties dominate in terms of economic activity and population, the other four counties make up about one-third of the population. Though smaller individually, together they contribute significantly to the economic strength of the region. The laborshed of the Quad Cities area extends well beyond these six counties. Thus, the available pool of labor for businesses looking to expand or locate in the Quad Cities is much larger than just Scott and Rock Island Counties.
The age distribution of the Quad Cities is similar to that of other Midwestern urban areas. Like many other areas, the population is aging. Currently, the median age is 42. The percentage of the population 19 and under is about the same as the national average, and that percentage has been decreasing over time in most regions of the country. Racial demographics are less diverse than the U.S. as a whole. However, the area’s percentages of Black and Hispanic residents are higher than average for Iowa and near the average for Illinois. Rock Island and Muscatine Counties have the highest concentration of Hispanic residents at 13.5% and 18.6%, respectively.
Educational attainment differs slightly from the national average with more residents with a high school diploma only and fewer with a bachelor or graduate/professional degree. However, the high school graduation rate is approximately 88% - slightly above the national average. About 39% of residents have completed some kind of post-secondary education. There are many colleges, universities, and other post-secondary institutions within driving distance.
The poverty rate in the Quad Cities was 11.4% in 2022 - very close to the national average of 11.5%. This is down from 12.8% in 2010. The poverty rate has declined in every county except Rock Island since 2010.
The dashboard is a great resource for local demographic information. Data sources include the Census, Bureau of Labor Statistics, Bureau of Economic Analysis and more. From time to time, this blog will take a closer look at various statistics from the dashboard.
Next week: International update
