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Greater Peoria EDC Quarterly Economic Update | Q3 2017
Quarterly Update 2017 Greaterpeoriaedc.org • (309) 495-5910
2 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceEmployment, Labor, Unemployment as of September 2017
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
Sep
-10
Jan-
11
May
-11
Sep
-11
Jan-
12
May
-12
Sep
-12
Jan-
13
May
-13
Sep
-13
Jan-
14
May
-14
Sep
-14
Jan-
15
May
-15
Sep
-15
Jan-
16
May
-16
Sep
-16
Jan-
17
May
-17
Sep
-17
Greater Peoria Unemployment Rates
Greater Peoria Illinois USA
160000
165000
170000
175000
180000
185000
190000
195000
200000
Sep
-10
Jan-
11M
ay-1
1S
ep-1
1Ja
n-12
May
-12
Sep
-12
Jan-
13M
ay-1
3S
ep-1
3Ja
n-14
May
-14
Sep
-14
Jan-
15M
ay-1
5S
ep-1
5Ja
n-16
May
-16
Sep
-16
Jan-
17M
ay-1
7S
ep-1
7
Greater Peoria Total Employment
GP Employment
160000
170000
180000
190000
200000
210000
220000
Sep
-10
Jan-
11M
ay-1
1Se
p-1
1Ja
n-12
May
-12
Sep
-12
Jan-
13M
ay-1
3Se
p-1
3Ja
n-14
May
-14
Sep
-14
Jan-
15M
ay-1
5Se
p-1
5Ja
n-16
May
-16
Sep
-16
Jan-
17M
ay-1
7Se
p-1
7
Greater Peoria Labor Force
GP Labor Force GP Employment
40.00%
45.00%
50.00%
55.00%
60.00%
65.00%
70.00%
Sep
-10
Jan
-11
Ma
y-1
1
Sep
-11
Jan
-12
Ma
y-1
2
Sep
-12
Jan
-13
May
-13
Sep
-13
Jan
-14
May
-14
Sep
-14
Jan
-15
Ma
y-1
5
Sep
-15
Jan
-16
Ma
y-1
6
Sep
-16
Jan
-17
Ma
y-1
7
Sep
-17
Labor Force Participation Rate
Greater Peoria USA
Greater Peoria employment
decreases: Greater Peoria’s
total employment decreased
by 2,507 workers from Q2
2017 to Q3 2017. Since, the
end of Q1 2017 employment
has dropped 878 workers.
Total employment in Illinois
decreased and US employment
increased.
Greater Peoria unemployment
decreases: Greater Peoria’s
unemployment decreased
1.01% from Q2 2017 to Q3
2017. Since, the end of Q1
2017 unemployment
decreased 1.14%.
Unemployment in Illinois has
remained the same and US
unemployment has decreased
from Q2 to Q3.
Greater Peoria labor force
decreases: Greater Peoria’s
labor force Q2 2017 to Q3
2017 by 4,343 workers. Labor
force during this time also dropped in Illinois and US.
Sources: Bureau of Labor Statistics (BLS)
3 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceEmployment Index By Industry as of September 2017
90.0
95.0
100.0
105.0
110.0
115.0
Sep
-10
Ma
r-11
Sep
-11
Ma
r-12
Sep
-12
Ma
r-13
Sep
-13
Ma
r-14
Sep
-14
Ma
r-15
Sep
-15
Ma
r-16
Sep
-16
Ma
r-17
Sep
-17
Total Payroll Employment
Peoria MSA Illinois USA
80.0
90.0
100.0
110.0
120.0
130.0
Sep
-10
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Mining, Logging, and Contruction
Peoria MSA Illinois USA
Mining, Logging, and
Construction5%
Manufacturing13%
Trade, transportation,
and utilities18%
Financial Activities
4%
Professional and business
Services14%
Education and Health
Services17%
Leisure and hospitality
12%
Government12%
Other5%
Peoria MSA Share of Employment By Industry, Q2 2017
80.0
90.0
100.0
110.0
120.0
130.0
Sep
-10
Ma
r-1
1
Sep
-11
Ma
r-1
2
Sep
-12
Mar
-13
Sep
-13
Ma
r-1
4
Sep
-14
Mar
-15
Sep
-15
Ma
r-1
6
Sep
-16
Ma
r-1
7
Sep
-17
Manufacturing
Peoria MSA Illinois USA
85.0
90.0
95.0
100.0
105.0
110.0
115.0Se
p-1
0
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Trade, Transportation, and Utilities
Peoria MSA Illinois USA
The graphs on pages 2 and 3 show
Peoria’s MSA growth compared to
state and national averages since
September 2010.
Six of the eight major industries in
Peoria’s MSA saw employment
increases from Q2 2017 to Q3 2017.
Sources: Bureau of Labor Statistics (BLS)
4 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceEmployment Index By Industry as of September 2017 (Continued)
Quarterly Employment Change By Major Industry
Industry Q1 2017
Jobs Q2 2017
Jobs MSA Empl. Chg.
Thousands Thousands No. %
Mining, Logging, Construction 8.6 8.7 0.1 1.15%
Manufacturing 22.5 22.7 0.2 0.88%
Trade, Transportation, Utilities 31.9 31.9 0 0.00%
Financial Activities 7.6 7.5 -0.1 -1.31%
Professional and Business Services 24.8 24.5 -0.3 -1.20%
Education and Health Services 31.1 28.9 -2.2 -7.67%
Leisure and Hospitality 20.2 20.0 -0.2 -0.99%
Government 21.4 21.2 -0.2 -0.93%
Total 168.1 165.4 -2.7 -1.61%
80.0
90.0
100.0
110.0
120.0
Sep
-10
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Financial Activities
Peoria MSA Illinois USA
80.0
100.0
120.0
140.0
Sep
-10
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Professional and Business Services
Peoria MSA Illinois USA
85.090.095.0
100.0105.0110.0115.0120.0
Sep
-10
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Education and Health Services
Peoria MSA Illinois USA
80.090.0
100.0110.0120.0130.0
Sep
-10
Mar
-11
Sep
-11
Mar
-12
Sep
-12
Mar
-13
Sep
-13
Mar
-14
Sep
-14
Mar
-15
Sep
-15
Mar
-16
Sep
-16
Mar
-17
Sep
-17
Leisure and Hospitality
Peoria MSA Illinois USA
85.0
90.0
95.0
100.0
105.0
Sep
-10
Ma
r-1
1
Sep
-11
Ma
r-1
2
Sep
-12
Ma
r-1
3
Sep
-13
Ma
r-1
4
Sep
-14
Ma
r-1
5
Sep
-15
Ma
r-1
6
Sep
-16
Ma
r-1
7
Sep
-17
Government
Peoria MSA Illinois USA
Sources: Bureau of Labor Statistics (BLS)
5 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceAverage Yearly Wage
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
Q1
2017
Q1
Peoria County
Peoria Illinois USA
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q4
2016
Q1
2017
Q1
Tazewell County
Tazewell Illinois USA
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
Q1
2017
Q1
Woodford County
Woodford Illinois USA
Sources: Bureau of Labor Statistics (BLS)
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
Q1
2017
Q1
Logan County
Logan Illinois USA
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
Q1
2017
Q1
Mason County
Mason Illinois USA
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
2010
Q1
2011
Q1
2012
Q1
2013
Q1
2014
Q1
2015
Q1
2016
Q1
2017
Q1
Greater Peoria
Greater Peoria Illinois USA
6 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceIndustrial & Commercial Real Estate as of September 2017
0
10
20
30
40
50
60
70
80
Q1
201
4
Q2
201
4
Q3
201
4
Q4
201
4
Q1
201
5
Q2
201
5
Q3
201
5
Q4
201
5
Q1
201
6
Q2
201
6
Q3
201
6
Q4
201
6
Q1
201
7
Q2
201
7
Q3
201
7
Industrial Vacancys
0
50
100
150
200
250
Q1
201
4
Q2
201
4
Q3
201
4
Q4
201
4
Q1
201
5
Q2
201
5
Q3
201
5
Q4
201
5
Q1
201
6
Q2
201
6
Q3
201
6
Q4
201
6
Q1
201
7
Q2
201
7
Q3
201
7
Office Vacancys
0
20
40
60
80
100
120
140
Q1
201
4
Q2
201
4
Q3
201
4
Q4
201
4
Q1
201
5
Q2
201
5
Q3
201
5
Q4
201
5
Q1
201
6
Q2
201
6
Q3
201
6
Q4
201
6
Q1
201
7
Q2
201
7
Q3
201
7
Land Vacancys
0
20
40
60
80
100
120
140
160
180
200
Q1
201
4
Q2
201
4
Q3
201
4
Q4
201
4
Q1
201
5
Q2
201
5
Q3
201
5
Q4
201
5
Q1
201
6
Q2
201
6
Q3
201
6
Q4
201
6
Q1
201
7
Q2
201
7
Q3
201
7
Retail Vacancys
0
100
200
300
400
500
600
700
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
Q2
2017
Q3
2017
Total Vacancys
Sources: Peoria Area Association of Realtors (PAAR)
7 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceIndustrial & Commercial Real Estate as of September 2017
0
200
400
600
800
1000
1200
1400
1600
1800
2013 2014 2015 2016 2017
Residential Sales
Q1 Q2 Q3 Q4
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
2013 2014 2015 2016 2017
Median Sales
Q1 Q2 Q3 Q4
80
85
90
95
100
105
110
115
120
20
05 Q
1
20
05 Q
3
20
06 Q
1
20
06 Q
3
20
07 Q
1
20
07 Q
3
20
08 Q
1
20
08 Q
3
20
09 Q
1
20
09 Q
3
20
10 Q
1
20
10 Q
3
20
11 Q
1
20
11 Q
3
20
12 Q
1
20
12 Q
3
20
13 Q
1
20
13 Q
3
20
14 Q
1
20
14 Q
3
20
15 Q
1
20
15 Q
3
20
16 Q
1
20
16 Q
3
20
17 Q
1
FHFA House Price Index
Peoria MSA Illinois USA
0.18%
1.62%
3.19%
0.00% 1.00% 2.00% 3.00% 4.00%
Peoria MSA
Illinois
USA
MSA House Price Change, 3rd Quarter 2016- 4th Quarter
2016
Sources: Peoria Area Association of Realtors (PAAR), Federal Housing Finance Agency (FHFA)
8 Greater Peoria EDC Quarterly Economic Update | Q3 2017
Regional PerformanceAirport Passengers & Flights
Regional PerformanceCost of Living Index
0
10000
20000
30000
40000
50000
60000
70000
80000
90000
2012 2013 2014 2015 2016 2017
Peoria International Airport Passengers
Q1 Q2 Q3 Q4
0
500
1000
1500
2000
2012 2013 2014 2015 2016 2017
Peoria International Airport Domestic Flights
Q1 Q2 Q3 Q4
89.2 90.8 91.4 94 96.2106.4
123.5
0
20
40
60
80
100
120
140
Des Moines Fort Wayne St Louis Quad Cities Peoria Madison Chicago
Cost of Living Index
Sources: The Council for Community and Economic Research, Bureau of Transportation Statistics
9 Greater Peoria EDC Quarterly Economic Update | Q3 2017
10 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceBusiness Expansion Projects as of September 2017
Business Expansions Completed (2015-2017) 4B Components Ltd IVP Plastics LLC Precision Laser Manufacturing
Bean's Country Store Justcore Properties LLC Precision Technology Group
Chemtura Lonza Redbud Ridge Custom Cabinets
Chip Energy Methodist College RLI
Crank's Industrial Coating Minonk Bowl SMF, Inc.
Cunningham Candies OneFire Media SoBrite Technologies
Fugate Instruments PDC Waite Equipment
Gronsenbach's Grocery LLC Philippi-Hagenbuch Zimmerman Auto Dealing
HGS Plaza Lanes, LLC JIMAX Pops Sweet Shop
28
25
0 5 10 15 20 25 30
Completed
2019 Goal
Projects Completed (2015-2017)
152
1000
0 250 500 750 1000 1250
Created
2019 Goal
Jobs Created (2015-2017)
2
13
5
8
1
16
9
1
5
12
02468
1012141618
Logan Mason Peoria Tazewell Woodford
Projects Active By County
Q1 Q2 Q3 Q4
10 12
2415
29 27
17
0
20
40
Q1 Q2 Q3 Q4
Active Projects
2016 2017
3 31
12
3 2
5
2 2 2
15
4
11
9
31
3
0
5
10
15
20
Agriculture Health Care Logistics Manufacturing Other Prof/Tech RetailRelated/Service
Projects Active By Sector
Q1 Q2 Q3 Q4
11 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceBusiness Retention Visits as of September 2017
262
500
0 100 200 300 400 500 600
Completed
2019 Goal
Business Retention Visits (2015-2017)
816
116
77
4335 35
200
150
80
0
50
100
150
200
250
Logan Mason Peoria Tazewell Woodford
Total BRV's By County
Total Achieved 2019 Goal
12 16
32
138
7
2823
0
20
40
60
80
100
120
140
160
Agricultrue Healthcare Logistics Manufacturing Other Prof/Tech Retail/Service
Total BRV's By Sector
12 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceBusiness Retention Visits as of September 2017
Business Visits in 2017 4B Elevator Companies GIVSCO Construction Company Maple Lawn Homes
4ce, Inc. GSS Machining Midwest Perma Column
ACES Enterprises Hanley Steel Minonk Chocolate Company
ADM Havana Hawk Energy Solutions Morton Automatic Electric Co
Advocate Eureka Hospital Illini Concrete Morton Industries
Alcast Company Illinois American Water Natural Fiber Welding
Ameren Iron-A-Way LLC OSF Health Care
American Tire Distributors ISHPI Parson Company
Attollo IVP Plastics Phoenix Affiliates Ltd
Bard Optical JC Screenprinting Pioneer Industrial Park, Inc.
Beck's Hybirds JM Industrial Supply Pioneer Railroad Services, Inc.
Bell Enterprises JT Fennel Peoria PMP Fermentation
Bill Gatliff & Associates JT Fennell Chillicothe Precision Planting Warehouse
Cast Technologies Kamatsu Raber Packing Company
Comprehensive Prosthetics and Orthotics Kemp Manufacturing RMH Foods
Country Comfort Retirement Home Keystone Roanoke Concrete
Daniel Mfg. Klean Wash SC2
Dynegy LaserPro of Peoria SCSI, Inc.
ELECSYS Division Lights by H&H SMF, Inc.
Farnsworth Group Linco Precision Waite Equipment
G & D Integrated Peoria Lynch Aluminum Xantus Products
13 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceEconomic Gardening as of September 2017
Economic Gardening Completions Company Company Description
Calihan Pork Processing Food Processing
Dust Control Technology Improves Industrial Air Quality
ITC, Inc. Custom Metal Machining
Kemp Manufacturing Precision Metal Machining
OneFire Marketing Consultant
5
25
0 5 10 15 20 25 30
Completed
2019 Goal
Economic Gardening (2016-2017)
14 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceManufacturing Network as of September 2017
Network Members Integris Group R.L. Lewis Industries, Inc.
Kemp Manufacturing Quality Metal Products, Inc.
Enercon Engineering, Inc. Durre Brothers Welding & Machine Shop, Inc.
Caterpillar Inc. Advanced Technology Services, Inc.
G&D Intergrated SMF, Inc.
Premier Fabrication, LLC Metamora Industries, Inc.
CGN & Associates Advanced Technology Services (ATS)
Phillipi Hagenbuch Komatsu, Inc.
16
15
0 5 10 15 20
Actual
2019 Goal
Network Members
6
15
0 5 10 15 20
Actual
2019 Goal
Bid Opportunities
3
10
0 2 4 6 8 10 12
Actual
2019 Goal
New Sales Secured
15 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceBusiness Attraction as of September 2017
6
10
0 2 4 6 8 10 12
Completed
2019 Goal
Projects Completed
330
750
0 100 200 300 400 500 600 700 800
Created
2019 Goal
Jobs Created
17
1314
0
2
4
6
8
10
12
14
16
18
Q1 Q2 Q3
Active Projects
4 4
2
6
2
5
2
3
2
3
2
11
3
2
5
2
1
0
1
2
3
4
5
6
7
Agriculture Health Care Logistics Manufacturing Prof/Tech RetailRelated/Services
Projects Active By Sector
Q1 Q2 Q3 Q4
16 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceRural Development as of September 2017
3 3
7
5 5
0
1
2
3
4
5
6
7
8
Logan Mason Peoria Tazewell Woodford
Rurual Community Visits By County in 2017
3
1 1
2 2
0
0.5
1
1.5
2
2.5
3
3.5
Logan Mason Peoria Tazewell Woodford
Roundtable Attendance By County
8
6
0 2 4 6 8 10
Data Tools
Grant Assistance
Technical Assistance
2
1
2
2
0
1
2
3
4
5
6
7
8
Ongoing Projects
Ongoing ProjectsHousingCommunity Specific StrategyOrganization Created
17 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceStartup Greater Peoria as of September 2017
31
30
29.5 30 30.5 31 31.5
Launched
2019 Goal
Businesses Launched
150
150
0 50 100 150 200
Created
2019 Goal
Jobs Created Dollars Awarded Through KeyStart
$40,000
11
13
5
0 2 4 6 8 10 12 14
Outreach Opportunites
Founder Meetings
Programs Under Development
Q3 2017 Startup Greater Peoria
18 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceStartup Greater Peoria as of September 2017
31 Startups Launched
24Wave NEX Machine
360 Yield Center Natural Fiber Welding
Alluvian Notionovus
AutonomouStuff Oakford Group
Bump Boxes Onefire
Chip Energy Pixel Predictive
Cydalion PopXFit
DevBright Scious
EatandEvolve ServeTeck Filterly Stumari
Finish Line Planner Tada
Fugate Drums Unit Trac
Lux [Galesburg] Virtual Halo
Mobile Mount VirtuSense
Modern Thrive ZG3 Systems
My Fit Dog
19 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceGreater Peoria Pathways as of September 2017
1727
1526
379
91 109
0
200
400
600
800
1000
1200
1400
1600
1800
2000
Peoria Tazewell Woodford Mason Logan
CareerSpark (2015-2017)
3358
4000
0 500 1000 1500 2000 2500 3000 3500 4000 4500
Total Attended(2015-2017)
2019 Goal
CareerSpark (Student Attendance)
111
150
0 50 100 150 200
Total Attended(2015-2017)
2019 Goal
CareerSpark (Educator Attendance)
20 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceGreater Peoria Pathways as of September 2017
18
125
0 50 100 150
Placement Sites
2019 Goal
Internship Placement Sites
70
300
0 100 200 300 400
Placed
2019 Goal
Internships Placed
91%
85%
85%
100%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110%
8th Graders
9th Graders
10th Graders
2019 Goal
Career Cruising Use
9
15
4
64
4 2 2 4
0
10
20
30
40
50
60
70
Manufacturing Healthcare IT Other
Employers By Sector
Peoria Tazewell
49
300
0 100 200 300 400
Created
2019 Goal
Internsips Created
% of students to complete their career matchmaker
21 Greater Peoria EDC Quarterly Economic Update | Q3 2017
GPEDC PerformanceLive Greater Peoria as of September 2017
668633
592
486
385
734
381
0
100
200
300
400
500
600
700
800
2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3
Live GP Users
379
480
0 100 200 300 400 500 600
Attended 2017
2017 Goal
Number of People Presented To
2017 Live GP Booklets Printed/Distributed
2,000
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