2010 Summer Update
Local Asset Maximization Produces Job Growth
By Mike Van Mill
Even as we continue to face a global economic downturn, the first half of 2010 has produced notable economic development in Kankakee County. Anticipated capital and roadway projects are progressing well. Kankakee County’s unemployment rate, while fluctuating monthly, is on a downward trend. Although our unemployment rate remains one of the highest in Illinois, our job growth trends are encouraging.
Evaluating all metropolitan areas across Illinois, the Kankakee-Bradley MSA is one of only two that recorded positive job growth from May 2009 to June 2010. These figures may suggest a bit more stability and predictability in our local economy going forward.
Retention & Attraction
To a certain extent, moderate job growth in Kankakee is not surprising. The Alliance has conducted more than 40 retention visits with our major employers (representing more than 11,000 employees). Several companies anticipate some job growth in 2010. On balance, the findings of our visits are positive and encouraging. Companies continue to believe that Kankakee County is a great place to do business, citing a strong work ethic, relatively low operational cost, excellent transportation network and competitive incentives.
Our retention program is critical, as 80 percent to 90 percent of job growth is generated by existing business. An interesting trend that we have discovered is the success that several of our companies have had in consolidating operations here.
It is clear that Kankakee County is competitive in retaining and attracting new business. In the coming months, the Alliance will launch a series of attraction initiatives to target new and expanding business ventures from outside of the area. Our initial “Made Local, Sold Global” campaign highlights the success of our existing food processing industry, while establishing a platform to market the area to others seeking a Midwest presence.
Illiana Expressway
In June, Kankakee County Board Chairman Mike Bossert and I traveled to Lansing Airport to witness the signing of the bi-state memorandum of understanding between the states of Illinois and Indiana to cooperatively plan and develop the Illiana Expressway. Governors Quinn and Daniels were on hand to pledge support for this vital roadway.
The Alliance’s advance campaign to generate resolutions of support from local units of government resulted in12 Kankakee County municipalities, along with the Kankakee Regional Chamber of Commerce, joining us to formally back the Illiana project.
Strong 2010 Finish
As I mentioned in remarks at a Vulcan Materials event in July, our challenging economy heightens the sense of urgency to remove unnecessary barriers to capital investment and business innovation. Let us recommit to fostering local economic prosperity with smart, sound and cooperative development in Kankakee County.
Mike Van Mill is the President/CEO of the Economic Alliance of Kankakee County, which aims to create jobs and expand the local economic base by improving the River Valley business climate. The Alliance actively supports the retention and expansion of existing businesses as well as the attraction and recruitment of new companies. Contact the Alliance at 815-935-1177.
Photo Source: www.nwitimes.com