3. ‐0.5% ‐0.4%
‐4.3%
‐0.3% ‐7.3%
‐4.0% ‐4.5%
7.0%
‐4.7%
‐15.2%
‐21.8% ‐22.2%
0.5%
22.3%
38.3%
50.0%
24.8%
6.0%
‐35%
‐20%
‐5%
10%
25%
40%
55%
70%
Percent Change 2013‐2025
Population Age Cohort
Source: Woods & Poole Economics, Inc., 2013
Decrease
less than 100
Decrease by 600
Decrease
less than 100 Decrease by 2,800 Increase by 1,500
Increase by
2,600
Generation
Alpha
Generation Z Millennial
Baby Bust
(Generation X)
Baby Boom
Silent
Generation
Population and Work Force Trends
TCEDA Region 2013‐2025
3
9. Economic Composition
Gross Domestic Product by Industry (2012)*
Industry Sector Carroll County JoDaviess County Whiteside County TCEDA Region
Agriculture and Related Activities 13.8% 6.7% 4.7% 6.4%
Mining 0.1% 0.1% 0.2% 0.1%
Utilities 1.2% 2.7% 0.2% 0.8%
Construction 3.6% 4.7% 2.4% 3.1%
Manufacturing 15.0% 12.2% 26.9% 22.0%
Wholesale Trade 7.4% 2.9% 4.7% 4.7%
Retail Trade 7.3% 7.3% 5.7% 6.3%
Transportation and Warehousing 3.3% 4.6% 11.9% 9.1%
Information 0.7% 0.9% 1.1% 1.0%
Finance, Insurance and Real Estate 21.9% 23.1% 15.2% 17.9%
Professional and Technical Services 3.0% 3.4% 3.5% 3.4%
Management of Companies and Enterprises 0.2% 0.9% 0.0% 0.3%
Administrative and Waste Services 1.7% 3.9% 2.2% 2.7%
Education 0.0% 0.2% 0.3% 0.3%
Health Care and Social Assistance 3.2% 2.5% 3.7% 3.3%
Arts, Entertainment, and Recreation 0.3% 1.9% 0.3% 0.7%
Accommodation and Food Services 2.1% 8.2% 2.1% 3.5%
Other Services 5.1% 5.0% 2.9% 3.6%
Government 9.9% 8.6% 12.0% 11.0%
Total Gross Domestic Product $507,041,832 $863,260,322 $2,471,948,536 $3,842,250,690
.
*Percent of Total GDP, 2012.
Source: Purdue Center for Regional Development & Bureau of Labor Statistics, Quarterly Census of Employment and Wages
9
13. Opportunities for Growth
TCEDA Region
• Proximity To Urban Growth Centers (E.G. Dubuque, Quad‐cities & Chicago)
• Former Savanna Army Depot With Additional Investments in Infrastructure
• Federal Prison Facility In Thomson Offers Business Opportunities for
Suppliers plus Increased Housing and Retail Markets
• “Re‐shoring” of Manufacturing Activities has Job Creation Potential
• Local Food Movement Increases Markets for Agri‐business Firms
• Proximity to Iowa And Wisconsin Provides Access to Broad Markets
• Looming Demand for Workers to Replace Retiring “Baby Boomers” will be
the Main Job Openings in the Next Decade
• Higher Level of Training and Skills will be Required to Work with Complex
Technologies (Robotics, 3D Printing And Nano‐manufacturing).
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14. Where Can We Go From Here?
• Promote and Support Business Startups and Expand 2nd Stage Companies.
• Focus on More Skilled and High‐paying Job Opportunities.
• Expand Training Opportunities to Replace Retiring Workers (“Boomers”).
• Meet The Demands for Healthcare and Other Services for the Elderly
(Especially Housing, Travel And Recreation).
• Promote And Market High Quality Of Life And Regional Assets.
• Use Quality Jobs To Attract And Retain Residents (Especially Youth).
• Leverage Growth Opportunities In Tri‐state Area (e.g. I.T. in Dubuque; Farm
Machinery Mfg. and Food Processing in Clinton and Quad Cities; Aerospace,
Construction Machinery Mfg. and Auto Mfg. in Rockford & Peoria).
14