Economy

Economy & Business news

https://quadcitieschamber.com/pdf/Economic_Update_May_2020.pdf / Dr. Ken Kriz, Quad Cities Chamber of Commerce

An economist is confidant the local and national economy will eventually make a comeback. But in the short term, Dr. Ken Kriz is not sure how we'll manage the decline and all the problems that come with it.

Michelle O'Neill reports last week, Kriz discussed the economic effects of the coronavirus pandemic with members of the Quad Cities Chamber of Commerce (video below).

Deere & Company

The pandemic has taken a bite out of sales and profits for John Deere. Friday it reported sales in the second quarter dropped 18 per cent compared to the same quarter last year, and net income fell 41 per cent. 

Quad City International Airport

Traffic at the Quad City International Airport dropped sharply in April, the first full month of shutdowns caused by the pandemic. The total number of passengers fell 95 per cent - from nearly 30,000 in April of last year, to just 1,600 last month.

Disc Replay

Even though it can't hold its usual ribbon cutting ceremonies because of social distancing, the Quad Cities Chamber of Commerce still wants to celebrate when its members re-open and other milestones. So it's asking them to organize their own ceremonies, and post photos and short videos online.

Macerich

One of the two major shopping malls in the Quad Cities has re-opened, while the other has not. Tuesday  Macerich, the owner of NorthPark in Davenport and SouthPark in Moline, announced that NorthPark is one of 20 properties in eight states that are "fully open" with enhanced sanitation practices and rules for social distancing. 

Pork processing fell nearly 40 percent following temporary closures at meatpacking plants across the Midwest last month. That's created a backlog of market-ready hogs, though the scope of the problem isn't as dramatic as some had feared.

City of Davenport

Davenport's municipal pools will not open this summer. Monday the city announced that "out of an abundance of caution," Dohse, Fejervery, and Annie Wittenmeyer pools and aquatic centers will be closed. 

Radisson Hotel

Even though travel has suffered during the pandemic, hotels and motels in the Quad Cities have not been empty. 

https://www.livestories.com/ / Zoom press conference with cities of East Moline, Moline & Rock Island

Three of the Illinois Quad Cities are working together to help businesses recover from the COVID-19 shutdown.

Jay Pearce has more. 


The Quad Cities Chamber of Commerce wants Illinois and Iowa to help coordinate the reopening of the local economy.

President and CEO, Paul Rumler, says the vast majority of non-essential businesses are ready to reopen with restrictions to protect workers and customers. But so far, the states have responded differently to the pandemic. 

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