Targeted Industry Analysis: We had a packed house on Tuesday for the presentation of findings from a recent business attraction study. Via a Local Technical Assistance grant awarded by the US Economic Development Administration, Greater Peoria EDC hired Newmark to conduct a Targeted Industry Analysis. Newmark conducted desktop data research, an in-market visit, and conversations with over a dozen companies and stakeholders to best understand the strengths and assets of Greater Peoria. They applied their vast knowledge of industry trends and needs to develop recommendations on which types of businesses GPEDC and our partners should pursue. While they were clear that there we should be open to lots of opportunities, their study focussed on three industries where they felt we had a competitive advantage: food production; manufacturing process improvement and logistics consultants; and industrial toolmaking. They outlined thirty recommendations for how to position the region to attract these types of companies, ranging from placemaking to industrial site development. We were glad to have a large crowd of local stakeholders and decision-makers on hand and connected via Zoom. Drop me a line if you’d like to see a copy of the presentation or full report.
Discover Manufacturing: To continue the celebration of Manufacturing Month and the work to engage youth in manufacturing careers, this week we helped with the Discover Manufacturing Career Expo. The event brought in over 400 students across 24 schools to tour a variety of local skilled trades, manufacturers, and logistics companies. The schools are assigned a day (Wednesday or Thursday) along with a location, such as Caterpillar, Komastu, Morton Industries, and many more. While on their tour students get to see the daily work flow of the day shift employees, ask questions, and even operate some machinery or product packaging.
Once the tours concluded the students moved on to either Illinois Central College or Federal Companies for lunch and to interact with employers who have set up booths, activities, and simulators to continue their interactive experience with our growing trades. The event allows students to develop a deeper connection with employers they may have interest in working for in the future.
Career Motive-8: Jeffrey was a guest of Naperville’s “Career Motive-8” career exploration event, a program heavily inspired by our own Career Spark (the Naperville team toured a few years ago to get some ideas for the logistics and setup of their event). The event highlights a great partnership between Naperville CUSD 203 and the area business community. Just like CareerSpark, Motive-8’s purpose is to provide a hands-on experience that aligns with the district’s comprehensive counseling curriculum to deepen students’ understanding of the careers available in their community across multiple career pathways. Their approach differs in that it is feeding one school district, while CareerSpark captures career pathways to serve schools across districts from 11 different counties. And it was a learning experience for Jeffrey, too, who was able to learn how to incorporate some more “digital-savvy” into our CareerSpark event.
Supply Chain Webinar: We are co-sponsoring a no-cost webinar titled “Vetting Asian Suppliers: Mitigating Risk by Sourcing Outside of China” on Thursday, November 21, 2024, from 9:00 am to 10:00 am. Presented by the Turner Center for Entrepreneurship and the Illinois SBDC International Trade Center at Bradley University, this event explores strategic approaches to sourcing from emerging markets in South and Southeast Asia—viable alternatives amid rising costs and trade tensions with China. Kyle Freeman, Partner at Dezan Shira & Associates, will demystify the vetting process for suppliers in Asia, covering essential due diligence practices, fraud and corruption risks, and country-specific insights for India, Indonesia, and Vietnam. Don’t miss this opportunity to learn how to effectively diversify your supply chain.
Have a great weekend.
Chris