Business and Economy

Bloomington Normal has a lot going for it in the competition for a stable and perhaps growing economy. That's according to the head of the Association of Chambers of Commerce Executives. Mick Fleming spoke during a B-N Advantage event at the Rivian Automotive Plant.

Route 66 Tourism grew by 50 percent in Bloomington last year.

That's according to attendance figures for the Cruisin' with Lincoln on 66 Visitors Center in the McLean County Museum of History.

The face of retail is changing drastically, but there is still a place for brick and mortar stores. That's according to Rob Karr, the head of the Illinois Retail Merchants Association.

Karr spoke in Normal before the Economic Development Council saying there are parallels with the past in the way technology is changing retail.

Illinois Governor Bruce Rauner hopes Rivian Automotive will help boost employment in central Illinois.

Rauner joined many state and local elected officials at Rivian's opening ceremony Tuesday afternoon. Rauner said he's excited to see entrepreneurs like R.J. Scaringe take risks to start business in Illinois.

Construction of One Uptown on the circle in Uptown Normal is progressing with workers assembling the steel skeleton. A town official said construction is on schedule. 

The five story building will include Town of Normal offices on the second floor, 21 apartments, and a basement parking garage. A first floor restaurant has yet to be determined. 

The $14 million building could be complete as early as October of 2017. 

The State Department of Employment Security says unemployment rates remained higher than the national rate in November. But, Department Director Jeff Mays noted metro areas outside of Chicago have experienced more job growth recently.

Bloomington-Normal saw gains in financial activities, leisure and hospitality, and government. Peoria's biggest growth came in professional and business services. 

Millenials are changing the definition of "starter homes" in the Twin Cities. That's according to Bloomington-Normal Association of Realtors President Ed Neaves. 

Neaves said the traditional "first home" market sits at around $90,000 to $130,000. He said a large percentage of millenials are spending between $100,000 to $280,000 on their first home. 

The CEO of Rivian Automotive calls the community surrounding the Mitsubishi Plant "something special." 

There has been a surge of small business optimism coming out of the presidential election. That's according to U.S. Chamber of Commerce Chief Economist J.D. Foster.

Foster said small businesses have been reluctant to invest and hire because of policies coming from the Obama administration. Foster said businesses feel the federal government won't be such an oppressive force under President Elect Donald Trump. 

State and Bloomington-Normal Economic Development officials have found a probable buyer for the former Mitsubishi auto plant.

Interest in converting dilapidated downtown Bloomington buildings into a potential hotel and conference center could be renewed now that the city has bolstered the area as a Tax Increment Financing district. 

A new era of public transportation is driving into the Twin Cities. Connect Transit is launching a completely redesigned bus system with new routes, increased bus frequency, and for the first time ever, Sunday service. Connect Transit General Manager Andrew Johnson said the new system is a "game changer" for Bloomington-Normal.

The parent company of the Bloomington Pantagraph Newspaper says it has made substantial inroads in paying off its debt.

In the latest quarterly financial reports, Lee Enterprises says it continues to use all its available cash to reduce debt, more than sixteen million dollars in the last quarter and eighty six million dollars in the first three quarters of the year. Lee still owes more than 640 million dollars.

The Illinois Department of Commerce's Office of Tourism is celebrating artisans, products and experiences unique to the state with the new Illinois Made program. Illinois Office of Tourism Director Cory Jobe said  Illinois Made is an opportunity to feature the entrepreneurial spirit that is happening in the state. Jobe said Illinois is home to a thriving culture of artisans and craftspeople, making products that are in high demand among people looking for authentic, out of the ordinary experiences.  

State Farm CEO Michael Tipsord has been chosen to succeed former CEO Edward Rust, Jr. as the Chairman of the Board for the Bloomington-based insurance giant.