The Region’s Economic Health is Strong

The economic health of the Rockford Region is strong.

Currently more than $1.5 billion is being invested in the region. The area’s healthcare providers are generating more than 50% of that investment. These investments will benefit the region in many ways.

The result will be more work for our local contractors, more jobs in the healthcare industry cluster, and more commercial/retail development will accompany these investments.

During June, the unemployment rate in our region dropped to 6.3%. Six years ago the unemployment rate in the region was close to 20%. In the past twelve months 3,100 jobs were added which led to the Rockford Region having the second highest job growth rate in the State of Illinois.

Economic health measurement - Rockford MSA Nonfarm Jobs-Aug 2016

Recent announcements involving the completion of the maintenance, repair, and overhaul hangars built for AAR Corp. at the Chicago Rockford International Airport and the transfer of the Jeep Cherokee from Toledo, Ohio to the area will continue to widen the employment base.

The region has come a long way in the last six years in restoring the region’s economic base. There is still work to do and many other communities are competing against us for new business opportunities.

The region has the workforce, the logistics, and the sites to help us succeed.

Written by Mike Nicholas, president of the RAEDC