Economy

Economy & Business news

A woman who grew up in the Quad Cities will be the next leader of Renew Moline, the public-private partnership that promotes development in the city. Alexandra Elias will take over June lst, and replace Janet Mathis who resigned last year.

submitted / Deere and Company

Deere and Company plans to buy a private business that makes carbon fiber technology products. King Agro is based in Valencia, Spain and also operates a factory in Campana, Argentina.

Michelle O'Neill / WVIK News

Tax reform and how it will affect the bottom line were a couple of topics addressed at today's John Deere annual meeting in Moline.

After electing the board of directors and giving his report to a packed house, Chair and CEO Sam Allen took questions. One shareholder asked about tax reform in part because Deere took a first quarter charge of $900 million due to the new law.

Michelle O'Neill / WVIK News

Two local real estate developers plan to buy an iconic building in Moline. About two years ago, the Masonic group that owns the Scottish Rite Cathedral put it up for sale. Located on 7th Avenue near I-74, it features an auditorium, reception hall, commercial kitchen, and smaller venues. 

Costco Coming to QC

Feb 20, 2018

Work will begin soon to build a new Costco Wholesale store in Davenport. The project has won all the re-zoning and approvals it needs from the city, and it could open by the end of the year.

A bank based in central and western Illinois will open its first branch in the Quad Cities on Tuesday. 

Michelle O'Neill / WVIK News

A first quarter loss was no surprise to Deere and Company. Michelle O'Neill reports, today the company reported it lost $535 million due to federal tax reforms.

The state of Iowa wants to help ADM expand in Clinton. Friday the board of the Iowa Economic Development Authority approved tax credits for the project.

https://www.wirtgen-group.com/john-deere/en/ / Wirtgen Group Branch of John Deere GmbH & Co. KG

When Deere and Company releases first quarter earnings tomorrow, it'll be the first time since it bought the Wirtgen Group.

Michelle O'Neill reports.


New Tax Law Helps HNI

Feb 12, 2018

Thanks in part to the new tax law, earnings rose last year for HNI Corporation. The Muscatine-based maker of office furniture and fireplaces reports a profit of $2 per share in 2017, compared with $1.88 the previous year.

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