Business

The Illinois House has approved a measure to provide back pay to thousands of state workers who've been waiting for it since 2011.

A showdown between two Democratic measures to close the wage gap ended with Illinois senators rejecting one considered more business friendly.

Gov. Bruce Rauner says he's traveling to Germany and Poland next week to try to draw more companies to Illinois.

University of Illinois Urbana-Champaign / Department of Economics

The University of Illinois Flash Index measured the Illinois economy at 104.5 in March. That’s down a tenth of a point from February. But economist Fred Giertz says it’s still an indicator of steady economic growth.

Giertz says the Illinois economy is getting help from the strong national economy. That’s reflected in Illinois’ statewide unemployment rate of five percent in February.

Continuing last year's record-setting growth, Chicago set new tourism records in the first months of 2018.

A revised report from the U.S. Bureau of Labor Statistics shows Illinois job growth hit a high point last summer and surpassed its prior business cycle peak from September 2000. 

The Illinois treasurer says he opposes a bill that would take away his office's authority to hire auditors to help recover residents' unclaimed property.

Senate President John Cullerton is urging Gov. Bruce Rauner to propose a budget plan that's balanced.

Four central Illinois communities will share more than $400,000 in federal housing money to help families with job-training, education and more. 

An Illinois lawmaker says a casino proposed for southern Wisconsin would deal an economic blow to an adjacent Illinois town.

Budding entrepreneurs will compete for financial investment and in-kind services in the Startup Showcase on Friday in Bloomington.

Caterpillar Shares Strong, Following Upbeat Q3 Report

Oct 24, 2017
Cass Herrington / Peoria Public Radio

Caterpillar’s third quarter figures are out -- The company’s revenues continue to climb, and its stock followed suit Tues.

Tanya Koonce / Peoria Public Radio

The Caterpillar Visitors Center has a new moniker coinciding with its five-year anniversary. It’s now the Doug Oberhelman Caterpillar Visitors Center. 

IDCEO Identifies New Statewide Enterprise Zones

Oct 19, 2017
Tomas Armanavicius / Flickr

State officials have designated six sites around Illinois as enterprise zones to encourage business development. The Illinois Department of Commerce and Economic Opportunity announced the sites Wednesday. Officials said the Enterprise Zone Board evaluated applications and awarded designations to sites in Chicago; Douglas County; Effingham and Effingham County; an intermodal operation shared by Jersey and Greene counties; Massac County; and Whiteside County.

The city of Chicago has officially submitted its bid to be home to Amazon's second headquarters.

Gov. Bruce Rauner has signed legislation that re-establishes an economic-development tax incentive with greater transparency.

Caterpillar is reporting a 46 percent jump in profits, during its second quarter of 2017.

Cass Herrington / Peoria Public Radio

Local businesses based in Peoria are making their presence known on a new social campaign, called Peoria is My Headquarters.

Local business and civic leaders attended the launch at the Civic Center. The My Headquarters initiative comes in the wake of news that Caterpillar is relocating its HQ to Chicago. That announcement last month left some Peoria residents feeling baffled and uncertain about the city’s future.

Elevate Peoria / Facebook

Peoria’s about to get a bouncy new option for recreation and fitness.

C-Span

 

Dwayne Andreas, whose company Archer Daniels Midland helped transform agriculture into big business but was rocked by a price-fixing scandal in the 1990s, has died. He was 98. Archer Daniels Midland spokeswoman Jackie Anderson on Wednesday confirmed Andreas' death. Andreas became CEO of the Illinois-based grain processor in 1970. He built it into a powerhouse that billed itself as the "supermarket to the world.

Tanya Koonce

Junction City Ventures along with several other business sponsors are working with Peoria Public Schools to launch a student-run company. It’s called AppsCo.

Caterpillar Inc.'s third-quarter earnings are lower than this time last year, but earnings surpassed Wall Street expectations.

Cat reported its numbers before the opening bell today that show the company generated a net income of $651 million in the third quarter. That’s down $2 million from third quarter last year of $559 million. The company posted Q-3 earnings of 85 cents per share, which beat analyst estimates of 77 cents per share.

Flickr Creative Commons/Christophe BENOIT

Illinois Gov. Bruce Rauner says he's creating a council that will review state agency rules and regulations with the goal of reducing bureaucracy.  Rauner says each regulatory agency will have a representative on the newly created Illinois Competiveness Council. 

Ted Radio Hour's Guy Raz Launches New Podcast

Oct 6, 2016
Brad Horn

Many Peoria Public Radio listeners know Guy Raz from the TED Radio Hour.  He’s also served as weekend host of All Things Considered, NPR defense correspondent, and bureau chief in both London and Berlin.  Now, he’s hosting a new NPR podcast called How I Built This, featuring conversations with the founders of some of the world’s best known companies.

The privately run and funded economic development corporation that Republican Gov. Bruce Rauner created to attract new businesses to Illinois has a new name.

The Illinois Business and Economic Development Corporation announced Monday that it will now be known as Intersect Illinois. Rauner used his executive powers in February to establish the nonprofit. Democrats raised questions about transparency and a few weeks later formed a bipartisan committee to review the corporation.

BU’s Convergence center sees major donation

Jun 21, 2016

Retired Caterpillar CEO Glen Barton and his wife Polly are making an undisclosed seven figure gift to Bradley University for the school’s proposed Business and Engineering Convergence Center.

Bloomberg Businessweek

Bradley University's business programs are in the national spotlight. Bloomberg Businessweek listed BU’s Foster College 42nd in the nation in its annual rankings.

The university says the ranking reflects the hard work of the college’s faculty and staff as well as the career center staff.

The scores are based on metrics derived from students, employers, salaries and internships.

Profits fell for Deere and Company in the first quarter, but still beat expectations on Wall Street. This morning, the company reports it earned 254-million-dollars, or 80-cents per share, compared to a-dollar-twelve last year. Before this morning's report, the consensus among analysts was 71-cents per share. 

Cass Herrington / Peoria Public Radio

A new retailer is setting up shop in Peoria’s warehouse district, and it’s bringing a new business model along with it. 

Banu and Mike Hatfield, who are married, own Zion Coffee. Last month, they announced plans to bring their coffee business to the historic Union Depot Hotel building on SW Adams St. 

Caterpillar CEO Doug Oberhelman presented the mayors of Peoria and East Peoria with two trucks Monday.  Both cities purchased the trucks to help combat the winter weather.  Peoria Mayor Jim Ardis says the trucks highlight a connection between the city and the region’s largest-employer:

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