Economy

Economy & Business news

For the second month in a row, unemployment in the Quad Cities in July was the lowest of any major metropolitan area in Illinois. It was 3.7 per cent compared to 4.2 per cent in July of last year.

http://quadcitieschamber.com/public/locate-start-grow/locate/data-center / Bi State Regional Commission website

Two agencies are surveying people in the Quad Cities job market. The Chamber of Commerce and Iowa Workforce Development are conducting a study to find out who works here, how much they make, and other details about the regional workforce.

Michelle O'Neill / WVIK News

Deere and Company set a record for third quarter earnings on a per share basis. This morning, Deere reported it made $910 million from May through July, or $2.79 per share compared to $1.97 for the same period last year. Without a gain from the new, federal tax law, earnings per share would have been 20 cents lower.

submitted / Mediacom Communications

A recent accident gave Mediacom a chance to show it's prepared to move fiberoptic lines quickly, with minimal interuption in service. Last week, the company's crews fixed and re-located a major section of cable from the I-74 bridge to an underground tunnel.

Google Maps with added graphics by WVIK News / Google Maps, https://goo.gl/aVNswn

Best Buy plans to close its Moline store in the fall. The company has decided not to renew its lease for the store, which is located near South Park Mall.

Earnings and revenue fell for Lee Enterprises in the third quarter. Friday the media company based in Davenport and owner of the Quad City Times, reported net income during April, May, and June of 4.8 million dollars - down from 6.3 million a year ago.

http://www.pla.com.ar/site/ / PLA website

Deere and Company plans to buy a South American company that makes planters, sprayers, and other farm equipment.

This morning, Deere announced it has signed an agreement to acquire PLA, which is based in Argentina.PLA is a private company that owns factories in Las Rosas, Argentina and Canoas, Brazil. The 43-year-old company was the first to manufacture self-propelled sprayers in Latin America. Currently, PLA employs about 450 people.

http://images.enjoyillinois.com/assets/131751 / John Deere

More visitors spent more money in the Illinois Quad Cities last year. The Illinois Office of Tourism recently released its statistics for 2017. Last year, people who visited Rock Island County contributed more than $223 million to the local economy, an increase of 2.7% compared to 2016.

Not only did unemployment fall again in the Quad Cities last month, but it fell to the lowest level of any major metropolitan area in Illinois.

"Be patient." That was the message Wednesday from the Illinois Department of Transportation for local residents wondering when passenger rail service to Chicago will start. 

Pages