Economy

Economy & Business news

Google Data Explorer, US Bureau of Labor Statistics

Unemployment continued to fall in the Quad Cities in September. It dropped more than one full percentage point - from 5.5 per cent a year ago to 4.3 per cent last month. 

Quad Cities Manufacturing Innovation Hub and Quad Cities Chamber

Representatives from local companies, colleges, and other organizations will learn about new technology, and how to take advantage of it. Tomorrow on Arsenal Island, the Quad Cities Manufacturing Innovation Hub will host a Defense and Manufacturing Industry Workshop.

https://goo.gl/GhZKPj / Arconic

Third quarter earnings for Arconic declined compared to the same period a year ago.

Michelle O'Neill reports that's when the company was still part of Alcoa, before it split into two, separate companies on November first.

For the third quarter, Arconic reports earnings of $0.25 per share, or $132 million, $5 million less than a year ago. But that excludes special items such as re-structuring costs and higher aluminum prices.

Airbnb

People in Iowa who rent their homes to visitors will soon have to start collecting hotel and motel taxes. Airbnb has signed an agreement with the state department of revenue that goes into effect November lst.

Hoping to compete with Iowa and help young people find jobs, Moline has changed its liquor ordinance. Now "minors" who are 18, 19, and 20 can sell and serve alcohol in bars, restaurants, and grocery stores.

Deere Wins Trademark Case

Oct 17, 2017
Ag Spray Equipment

Deere and Company has won a trademark dispute with a South Dakota company that makes agricultural sprayers. A federal judge in Kentucky has ruled FIMCO Incorporated, and its brand of Ag Spray Equipment, cannot use John Deere green and yellow on its products.

Illinois Dept. of Commerce & Economic Opportunity

Worried that they might lose an important incentive for economic development, the Illinois Quad Cities plans to re-apply to the state for an enterprise zone. Rock Island County and five cities have had one of these zones for nearly 30 years, and it's due to expire next year.

Whiteside County Economic Development

A warehouse and distribution company from Ohio may boost the economy of Rock Falls and Whiteside County. Robinson Investments, based in the city of Bellefontaine, has bought the former Stanley Black and Decker Plant that's been vacant for nearly eight years.

A well-known investor is going to buy a major stake in Pilot Flying J truck stops and will become a majority owner within about five years. Warren Buffet's company, Berkshire Hathaway, says it will buy 38 percent of the company, and that stake will rise to 80 percent in 2023. 

submitted / Blue River Technology

Cameras and machine learning may eventually save farmers a lot of money on chemicals. They may even help prevent water pollution and reduce the need for genetically-modified seeds. That's according to the CEO of Blue River Technology, a company based in California's Silicon Valley that John Deere just bought for $305 million.

WVIK's Michelle O'Neill reports the acquisition may have wide-ranging effects on agriculture and other industries.

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