Economy

Economy & Business news

John Deere

Despite a lot of uncertainty and a weak farm economy, 2018 was a good year for sales of farm equipment. Figures from the Association of Equipment Manufacturers show tractor sales in the US rose 7 per cent, and combine sales jumped 18 per cent, compared to the previous year. 

Financial help is now available for some federal workers not being paid during the partial government shutdown. For its members, the I-H Mississippi Valley Credit Union is offering to loan them up to 5,000 dollars for one year, with a 2 per cent interest rate, to make up for lost wages, and borrowers can miss one monthly payment at no charge, excluding mortgages.

Enhance Iowa Board

The owners of TBK Bank Sports Complex are the first to benefit from a new tax incentive. Three years ago, the Iowa legislature enacted a Baseball and Softball Complex Sales Tax Rebate. Developers of the sports complex near I-80 in Bettendorf applied for the benefits. And in October, 2017, the Enhance Iowa Board approved it.

submitted / TBK Bank Sports Complex

After less than a year, a big economic development project in Bettendorf is thriving and will create even more jobs.

Last April, the owners of TBK Bank Sports Complex opened near Middle Road and I-80. This winter, it employs about 140 people, but in the summer that'll increase by 30 to 40.

https://goo.gl/5vRB3s / Philanthropy.com

People who raise money for nonprofits and foundations are facing new challenges.

Michelle O'Neill reports one expert says a new, federal tax law is a big cause for concern.

Stacy Palmer, Editor of the Chronicle of Philanthropy, says overall, charitable contributions have been increasing, from low income earners and those on the high end. But middle income earners are the group that's giving less. 

Unemployment held steady in the Quad Cities last month - at 3.7 per cent - the same as in November a year ago. But the rate rose in nearly every other major metropolitan area in Illinois.

submitted / Quad Cities Chamber of Commerce

Rock Island School District  Superintendent, Dr. Mike Oberhaus, will go to work for the Quad Cities Chamber of Commerce. Today, the chamber announced it's hired Oberhaus as its new Vice President of Finance and Administration. He already announced his retirement next summer.

https://goo.gl/ZweqBK / npEngage website

During and after the recession, most charities were forced to operate with less money.

Now, ten years later, Michelle O'Neill reports contributions have been rising, but nonprofits and foundations in the Quad Cities face other challenges.


file / Green Thumb Industries

Rock Island is attracting more business, and a handful of new deals should create 200 jobs.

At tonight's city council meeting, aldermen will consider five development agreements worth millions of dollars.

https://www.hyatt.com/en-US/hotel/illinois/hyatt-place-east-moline-quad-cities/mlize / Hyatt Place Hyatt House

People who worked at the old Case I-H plant in East Moline never had river views like this. This afternoon, city officials, developers, and others will cut a ribbon to celebrate the grand opening of a new Hyatt hotel. It's the anchor for "The Bend of the Mighty Mississippi," the development project that's transforming the riverfront where farm equipment was made for decades.

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