Did You Know…
Our region has the highest concentration of cold forming employment in the USA? The region’s bloodline of manufacturing and innovation and has positioned itself as a leader in advanced manufacturing and the region’s cold forming manufacturing industry demonstrates these capabilities.
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The RAEDC and the Rockford Region
The RAEDC, as the Economic Development Agency for the region is also the data collection agency on all new capital investment in the area, retained and created jobs, and new or renovated space. As we enter into our Rockforward20/20 strategic plan, we will be informing all of you on project wins for our region as well as projects that we are working on with our various regional partners.
Regional Impact Measurements
These figures represent the collective successes during the Rockforward20/20 strategic plan. The plan began in January 2016 and will continue through December 2020.
The results shown below are for 20 months of the 60 month Rockfordward20/20 strategic plan. The baseline for New or Retained jobs is based on the December 2015 figure as reported by IDES.
There was an expansion project that closed as a win for the Rockford Region, resulting in an additional 44,000SF and a capital investment of $2,750,000.
The Year-Over-Year comparison in non-farm jobs shows no change from July 2016 to July 2017 for the Rockford MSA, which includes Winnebago and Boone Counties.
There are 5,204 jobs advertised online for July 2017; an increase of 240 when compared to July 2016, as reported by the Illinois Department of Employment Security.
The RAEDC has made changes to how it reports jobs in the region and is using Illinois Department of Employment Security (IDES) figures at the MSA level, which includes Boone and Winnebago Counties.
Regional Economic Measurements
These figures represent data from July 2017.
Our Region Ranks First Again!
The region is competing against other metropolitan statistical areas much larger than ours and demonstrating the ability to provide this specialized form of manufacturing on a world-class level. We are still a Fastener Hub in the USA – We are #1!
RAEDC to Attend NBAA
The RAEDC will join 27,000 industry professionals at the National Business Aviation Association’s (NBAA) three-day event in October. If your business is attending, contact Gerald Sagona, VP of National Business Development.
Connect with Us Socially
Rivers Edge Tax Credit Extended through 2021
Governor Rauner has extended the Rivers Edge Tax Credit through December 31, 2021. This tax credit has contributed to the redevelopment of many properties along the Rock River, including the Prairie Street Brewhouse and the renovation of the Rockford Trust Building into loft-style apartments.
Superior Joining Technologies Announces NADCAP Accreditation
Superior Joining Technologies (SJTI) announces NADCAP Accredited for both Fusion and Laser Welding. This new certification is an addition to their current NADCAP registration for special processes; Non-Destructive Testing, Magnetic Particle & Fluorescent Dye Penetrant. SJTI is 1 of 16 NADCAP Accredited Welding Facilities in Illinois, and 1 of 441 across the United States.
Region Celebrates Rockford Day
The region celebrated the second annual Rockford Day, brought to you by Rockford Community Partners, on August 15. Rockford Day showcases the people, places, and things that make our region great with fun and interactive experiences throughout the city.
Rockford Area Convention & Visitors Bureau Reports Record Breaking Year
Visitor Spending in Rockford and Winnebago County reached an all-time high in 2016 of $353 million, directly creating/sustaining 2,888 jobs with $85.51 million in payroll!
2017 RAEDC Annual Meeting
November 15, 2017
Giovanni’s Restaurant and Convention Center
5:30 pm – 8:00 pm
(Re)Defining the Goal: The True Path for Career Readiness in the 21st Century
featuring Success in the New Economy producer & (Re)Defining the Goal author, Dr. Kevin Fleming.
Dr. Fleming is a passionate advocate for ensuring all students enter the labor market with a competitive advantage. He currently supports over 40 Career & Technical Education programs as a Dean of Instruction, CTE at Norco College (part of Riverside Community College District, California) and serves as vice president for the California Community College Association for Occupational Education.
Watch the video & learn more about the Annual Meeting at RockfordIL.com.
Corporate Tables & Individual Reservations available beginning September 18 at RockfordIL.com/721.
Doing Business with the City of Rockford – September 28
City of Rockford officials and representatives from the legal department and the community and economic development department will host an upcoming informational and networking opportunity. This session focuses on how to conduct business with the City of Rockford organization.
FastPitch – Wednesday, October 4
The FastPitch Competition is your chance to prove the potential of your business idea, meet people who can help you succeed, and maybe win a cash prize! Deadline for participants to submit their business pitches in writing for pre-qualification is Sept 21.
Manufacturing Day, Rockford Region – Thursday, October 12
Manufacturing Day is a celebration of modern manufacturing meant to inspire the next generation of manufacturers. For those who want to get involved in planning contact: Beth Mead, CEANCI Community Outreach Coordinator at 815-921-1650.
1 Million Cups – Wednesdays, 9 – 11 am
Entrepreneurs present their startup companies and learn how the community can help their business flourish. These meetings are held on a weekly basis.
Rockforward20/20 represents a bold vision for our future, this aggressive plan will cultivate opportunities to create and retain over 10,000 jobs and significantly increase capital investment in the region.
The RAEDC often works behind the scenes due to the confidential nature of business projects. Plus, big deals take time: The average time from start to completion on the project wins is 329 days.
We are committed to persistence and continuity in our work: We market the Rockford Region to the world, influencing companies to locate or expand here. We support and promote growth within targeted industries through regional public-private collaboration. We assist prospective and existing companies by connecting them to resources for workforce development, available buildings, supply chain partners, incentives and more.
Together, we will continue the momentum into 2017 for an even stronger, more sustainable economy. Together, we will Trailblaze, Inspire Action, Align, Seed and Serve!
RAEDC Board of Directors & Staff
ABOUT THE RAEDC
The role of the Rockford Area Economic Development Council (RAEDC) is to collaborate with regional stakeholders to cultivate opportunities for primary job growth that increase the economic well-being of our region. The RAEDC markets the region to attract new capital investment, while assisting existing business with resources for sustainable growth. The RAEDC works closely with many partners to improve the competitiveness of the region by taking what it learns from the region’s employers and engaging the community in the daily work of economic development. As the economic development organization for the region, the RAEDC also serves as the area’s data collection agency on all new capital investment, retained and created quality jobs, and renovated commercial/industrial space.