Economy

Economy & Business news

Herb Trix / WVIK News

 The old Howard Johnson in Davenport may be replaced by a new, six-story office and retail building called "Riverwatch Place." Today, the Downtown Davenport Partnership announced it has selected a development proposal from Bush Construction, NAI Ruhl Commercial Company, BLDD Architects, and Attorney John Carroll. The triangular site is located on LeClaire Street at River Drive and East Third Street. 

For the sixth month in a row, unemployment has fallen in the Quad Cities. New figures from the Illinois Department of Employment Security show the jobless rate here fell from 6.7 per cent in August of last year, to 6.2 per cent last month.

Michelle O'Neill / WVIK News

A top official from the US Economic Development Administration says the rust belt is ready to be revitalized. Jay Williams, the Assistant Secretary of Commerce for Economic Development, gave the keynote address this morning at Augustana College in Rock Island. He spoke at the 2nd annual economic summit hosted by 17th District Congresswoman Cheri Bustos, entitled Partnering for Illinois' Manufacturing Future.

Restoration St. Louis

Work could start soon on the renovation of a key block in the middle of downtown Davenport. Tonight officials of Restoration Saint Louis will give a presentation to invited guests on their project called "City Square" - the Parker, Putnam, and Center buildings on Second Street between Main and Brady.

Iowa Economic Development Authority

 

A public-private partnership is supporting business innovation in Iowa. This month, the Iowa Economic Development Authority awarded money to six startups, including one in Maquoketa. 

Every year, the state hands out up to $150,000 in loans to several small and medium-size businesses. Spokeswoman, Tina Hoffman, says it's part of a statewide effort to create a "culture of innovation."

Quad Cities Convention & Visitors Bureau

The Quad Cities' most famous sites are now appearing on TV screens across Illinois. This month, the Quad Cities Convention & Visitors Bureau launched three new commercials to attract more tourists.

Bureau spokeswoman, Charlotte Morrison, says the 30-second spots took four months to produce, with help from MotionSix Creative, a production company in East Moline. The commercials target baby boomers, millennials, and families. And feature local residents and historic landmarks. 

submitted / Deere & Company

Deere and Company might sell its crop insurance business. Tuesday the company announced it's reviewing what it calls "strategic options" for John Deere Insurance Company, a division of John Deere Financial. 

Thomson Prison Job Fair

Sep 15, 2014

Even though it won't open until next year, the Federal Bureau of Prisons will begin looking for employees for the Thomson prison. Tomorrow, a three-day job fair will begin in Thomson. 

Tom Terronez

A vacant landmark in downtown Davenport will soon get some new tenants. Two companies now in Bettendorf will move later this year into the Schneff building, at the corner of 3rd and Brady Streets.Tom Terronez is the founder and owner of Terrostar Inter-active Media which specializes in web design and online marketing, and Medix Dental which installs and supports computers and other technology for dentists.He wanted to move downtown, and he liked the former bank and jewelry store.

His companies now employ 17 people. 

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It's getting less expensive to buy gas in the Quad Cities. So far this month, prices are six to seven cents lower than last month. AAA Chicago's fuel gauge report says people buying gas in Davenport and Bettendorf are paying an average of $3.25 per gallon, and the average in Moline and Rock Island is $3.43.  Triple-A spokeswoman, Beth Mosher says global supplies are in good shape, and oil prices are lower, too.  Gas prices usually drop in September and October.

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