Quarterly Update 2016

Transcription

1 Quarterly Update 16 greaterpeoriaedc.org (39) -591 Greater Peoria EDC Quarterly Economic Update Q1 16 1

2 GPEDC Performance Expansion/Retention Projects Jan-Mar 16 Projects Completed Jobs Created Jobs Retained 19 Goal 16 Target Completed Goal 16 Target Created Active Projects Projects Active By Sector Projects Active By County Logan Mason Peoria Tazewell Woodford Quarter Company Description City County New Jobs Retained Q1: Crank's Industrial Coating Expansion of Industrial Company Pekin Tazewell 5 Lonza Expansion of processing equipment Mapleton Peoria Total 5 Greater Peoria EDC Quarterly Economic Update Q1 16

3 GPEDC Performance Attraction Projects Jan-March 16 Jobs Created Projects Completed 19 Goal Goal 1 16 Target 3 16 Target Created 63 Completed Active Projects Projects Active By Sector Greater Peoria EDC Quarterly Economic Update Q1 16 3

4 GPEDC Performance Business Retention Visits Jan-March 16 Business Retention Visits 19 Goal 5 16 Target Completed BRV's By Sector BRV's By County Logan Mason Peoria Tazewell Woodford Greater Peoria EDC Quarterly Economic Update Q1 16

5 GPEDC Performance Business Retention Visits Jan-March 16 Peoria Metro ACES Enterprises RL Lewis McBride & Shoff Metamora Industries SCBAS, Inc. FDC Solutions Central Manufacturing Company Walz Label and Mailing Systems Walz Scales ITC Inc. Green Tree Pharmacy Companies Visited DCX-Chol Enterprise, Inc. ElecSys Division Precision Planting Tremont Morton Machining (Marion Tool & Die Inc.) Crank s Industrial Coating Service Allied Welding Chillicothe Superior Industries Precision Planting Morton Fibrebond Chemtura Mapleton Manufacturing Maintenance Solutions, Inc. Automotive Robotics Inc. Greater Peoria EDC Quarterly Economic Update Q1 16 5

6 GPEDC Performance Startup Peoria Projects Jan-March 16 Businesses Launched 19 Goal 3 19 Goal Jobs Created 15 1 Million Cups Attendees Dollars Invested Through KeyStart 16 Target 1 16 Target $3, $, Launched 15 Created 13 5 $1, $ Nest Membership Quarter Company Jobs Created Q1: Scious 1 Total: 1 Day Pass Full Time Evenings/Weekends Office Greater Peoria EDC Quarterly Economic Update Q1 16 6

7 GPEDC Performance Economic Gardening Jan-March 16 Economic Gardening 19 Goal 5 16 Target 1 Joined Quarter Company Company Description Q1: Kemp Manufacturing Precision Metal Machining ITC, Inc. Custom Metal Machining Calihan Pork Processing Food Processing Greater Peoria EDC Quarterly Economic Update Q1 16 7

8 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jul-1 Jan-11 Jul-11 Jan-1 Jul-1 Jan-13 Jan-1 Jul-1 Jan-15 Jul-15 Jan-16 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Regional Indicators Employment, Labor Force, Unemployment Rates Greater Peoria employment decreases in the first quarter: Greater Peoria employment at the end of Q1 was 183,155 which was down 1,3 (.73%) from Q. Illinois employment increased.58 percent for this quarter as well as the US which increased. percent. Stand outs of growth this quarter despite the overall loss were sectors: professional and business services (.3%), trade, transportation, and utilities (1.19%), and government (.7%). Regional unemployment rate increases: The Greater Peoria seasonally-adjusted unemployment rate increased from 7% in Q to 7.53% in Q1. For Illinois, unemployment increased to 6.8% at the end of Q1. The US unemployment stayed the same at 5%. Greater Peoria s unemployment over the last year has grown 1.1% along with Illinois increase of.8%. However, the US saw a decrease in unemployment of.5%. These increases in unemployment can be attributed to recent struggles in the manufacturing industry. Labor force shrinks slightly in first quarter: the Greater Peoria labor force shrank by 59 in Q1 to The labor force has also shrank slightly for the year by Greater Peoria Total Employment Greater Peoria Greater Peoria Labor Force GP Labor Force GP Employment 15.% 1.% 5.%.% 68.% 66.% 6.% 6.% 6.% 58.% 56.% 5.% Greater Peoria Unemployment Rates Greater Peoria Illinois USA Labor Force Participation Rate Greater Peoria USA Greater Peoria EDC Quarterly Economic Update Q1 16 8

9 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jan-1 Jul-1 Jan-11 Jul-11 Jan-1 Jul-1 Jan-13 Jan-1 Jul-1 Jan-15 Jul-15 Jan-16 Regional Indicators Employment Index By Industry Charts on page 9 and 1 show Peoria MSA employment growth compared to state and national averages since the beginning of 1. Overall employment fell early in the quarter but recovered towards the end, and remains up 89 since last March. Three of the eight major industries saw employment increases from Q to Q1. For the span of a year, four industries have grown. A 1.5% percent gain in Professional and Business Services drove employment gains for the quarter, made possible by new and expanding business opportunities, as well as some seasonality effects of the end of winter Manufacturing Trade, Transportation, and Utilities Peoria MSA Share of Employment By Govt., 1.% Industry, Q1 16 Other, 5.3% Construction, Mfg., 13.3% Financial Activities 15. Professional and Business Services Leisure and Hospitality, 1.5% Trade, transport, utilities, 19.% Edu. and Health Services, 18.% Prof. and Bus. Services, 1.9% Financial Activities,.% Greater Peoria EDC Quarterly Economic Update Q1 16 9

10 Jan-1 Jul-1 Jan-11 Jul-11 Jan-1 Jul-1 Jan-13 Jan-1 Jul-1 Jan-15 Jul-15 Jan-16 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Jan-1 Jul-1 Jan-11 Jul-11 Jan-1 Jul-1 Jan-13 Jan-1 Jul-1 Jan-15 Jul-15 Jan-16 Jan-1 Aug-1 May-1 Dec-1 Feb-1 Sep-1 Regional Indicators Employment Index By Industry (continued) Leisure and Hospitality Education and Health Services Government Mining, Logging, and Construction Quarterly Employment Change By Industry Industry Q3 Jobs Q Jobs MSA empl. Chg. Thousands Thousands No. % Mining, Logging, Construction % Manufacturing % Trade, Transportation, and Utilities % Financial Activities % Professional and Business Services % Education and Health Services % Leisure and Hospitality % Government % Total % Greater Peoria EDC Quarterly Economic Update Q1 16 1

11 1 Q1 1 Q3 11 Q1 11 Q3 1 Q1 1 Q3 13 Q1 13 Q3 1 Q1 1 Q3 15 Q 15 Q3 1 Q1 1 Q3 11 Q1 11 Q3 1 Q1 1 Q3 13 Q1 13 Q3 1 Q1 1 Q3 15 Q1 15 Q3 1 Q1 1 Q3 11 Q1 11 Q3 1 Q1 1 Q3 13 Q1 13 Q3 1 Q1 1 Q3 15 Q1 15 Q3 1 Q1 1 Q3 11 Q1 11 Q3 1 Q1 1 Q3 13 Q1 13 Q3 1 Q1 1 Q3 15 Q1 15 Q3 1 Q1 1 Q3 11 Q1 11 Q3 1 Q1 1 Q3 13 Q1 13 Q3 1 Q1 1 Q3 15 Q1 15 Q3 Regional Indicators Average Hourly Wage $7, $6, $5, $, $3, $, $1, $ Logan County $7, $6, $5, $, $3, $, $1, $ Mason County $7, $6, $5, $, $3, $, $1, $ Peoria County Logan Illinois USA Mason Illinois USA Peoria Illinois USA $8, $7, $6, $5, $, $3, $, $1, $ Tazewell County $7, $6, $5, $, $3, $, $1, $ Woodford County $7, $6, $5, $, $3, $, $1, $ Greater Peoria Tazewell Illinois USA Woodford Illinois USA Greater Peoria Illinois USA Greater Peoria EDC Quarterly Economic Update Q

12 Q1 1 Q 1 Q3 1 Q 1 Q1 15 Q 15 Q3 15 Q 15 Q1 16 Q1 1 Q 1 Q3 1 Q 1 Q1 15 Q 15 Q3 15 Q 15 Q1 16 Q1 1 Q 1 Q3 1 Q 1 Q1 15 Q 15 Q3 15 Q 15 Q1 16 Q1 1 Q 1 Q3 1 Q 1 Q1 15 Q 15 Q3 15 Q 15 Q1 16 Regional Indicators Commercial Real Estate Industrial Real Estate Vacancys Land Real Estate Vacancys 5 Office Vacancys Retail Vacancys Regional Indicators Airport Passengers & Flights Peoria International Airport Passengers Peoria International Airport Domestic Flights 9, 8, 7, 6, 15 5,, 1 3,, 5 1, Greater Peoria EDC Quarterly Economic Update Q1 16 1

13 Regional Indicators Housing Residential Sales Median Sale 15 $1, $13, $1, 1 $11, $1, $9, Source: PAAR $8, Source: PAAR MSA House Price Change, 3rd Quarter 15 - th Quarter 15 USA Illinois FHFA House Price Index, 1st Quarter 5 - th Quarter 15 Peoria MSA -.% -1.%.% 1.% Greater Peoria EDC Quarterly Economic Update Q

14 Regional Indicators Cost of Living Index Cost of Living Index Q 1 Q 13 Q 1 Q 15 Q Peoria Quad Cities Chicago Des Moines Madison Fort Wayne St Louis Greater Peoria EDC Quarterly Economic Update Q1 16 1

15 Regional Performance Expansions & Locations Jan-Mar 16 Q1 16 Project Announcements: PEN Digital Publishing Pekin Tazewell Startup Scious Data Munging Peoria Peoria 1 Startup WC Support Co Online Shop Support Bartonville Peoria Startup Trefzgers Bakery Bakery Peoria Heights Peoria Attraction Morton Bank/ Heritage Bank Banking Central Illinois Merger Total Jobs 16 - Attraction: Total Jobs 16 - Expansion: Total Jobs 16 - Startup: 1 Total Jobs 16: 5 Greater Peoria EDC Quarterly Economic Update Q