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Friday, September 24, 2021Manufacturing Day
Manufacturing Webinar Series Starts Next Week - Free Registration! Insights from exporting and manufacturing experts each Thursday from September 30 to October 28. SEP 30 - Manufacturing Day Celebration - manufacturers share how they effectively tapped Federal Government export assistance to achieve global market success. OCT 7 - Early-stage Manufacturers - hear about federal resources available to support the idea phase, commercialization, and global growth journey of early-stage
Friday, September 24, 2021Governor Pritzker Announces $327 Million in Household Assistance Available for Low-Income Families
Governor Pritzker Announces $327 Million in Household Assistance Available for Low-Income Families In a move to support Illinois’ most vulnerable families from falling behind, this week, Governor Pritzker and the Illinois the Illinois Department of Commerce and Economic Opportunity (DCEO) joined community partners to announce $327 million in Help Illinois Families assistance through the
Thursday, September 23, 2021Ready To Return? Most Workers Say OK.
Data based on poll of 1,124 U.S. workers fielded in August 2021. By Rohit Diwadkar CoStar News More than a year into the pandemic, a majority of workers say they are ready to return to the office.The acceptance comes as many employers are still wrestling with work policies. The spread of the delta variant of the coronavirus has led some to delay return-to-office plans, while others have adopted hybrid arrangements or are moving to require workers to be vaccinated or show proof of negative
Thursday, September 23, 2021Existing Home Sales Fall, Brick-and-Mortar Foot Traffic Rises
Existing home sales fell in August after two months of increases. (Getty Images) By Richard Lawson CoStar News Existing Home Sales Fall Existing homes sales declined in August after rising during the previous months. The National Association of Realtors reported this week that sales fell 2% while the median sales price increased 14.9% over last year. All four regions of the country saw month-to-month declines in sales as well as year over year. "Although there was a decline in home purchases,
Wednesday, September 22, 2021Export to China
Export to China Week: November 8 – 12, 2021 Dear Illinois Exporters, In November 2021 the Illinois Office of Trade and Investment (OTI) will organize Export to China week to help Illinois exporters do business in this important market. The purpose is to continue to assist Illinois-based exporters to sell products and services to the Chinese market. In spite of the challenges of the worldwide pandemic, Illinois exports continue to grow. The OTI strives to
Wednesday, September 22, 2021Cracker Barrel Retail Sales Rise, Construction Pace Increases, Stock Market Flat After Drop
Cracker Barrel's retail sales in its latest quarter increased over 2019 while dining revenue trailed. (CoStar) By Richard Lawson CoStar News Cracker Barrel Retail Sales Rise Cracker Barrel dining rooms didn’t deliver quite what upper management expected in its latest quarter. But the retail side of the Lebanon, Tennessee-based company’s roadside restaurants far exceeded expectations. The chain reported $784.4 million in revenue for the quarter that ended July 31, which is relatively flat
Tuesday, September 21, 2021Resilient Consumers Keep Spending
Resilient Consumers Keep Spending Rising COVID cases stemming from the virulent delta variant have driven governments and businesses to reimpose social distancing measures and delay return-to-office policies, putting a damper on some economic activity. But consumers continue to power through the end of the summer. Retail and food services sales unexpectedly grew by 0.7% in August, following a downwardly revised 1.8% fall in July. The month-over-month changes to the headline figure this year
Tuesday, September 21, 2021Construction Jobs Boom in Many US States and Cities
By Rohit Diwadkar CoStar News Prior to the pandemic, there was a surge in the number of people working in construction jobs in recent years, often outpacing the growth in employment overall in many states. While employment likely fell at the onset of the coronavirus, there remain many more openings than people to fill them today. Indeed, the construction industry faces a shortfall of 200,000 workers, according to a report released in April by the Home Builders Institute. Here's a look at which
Monday, September 20, 2021Consumer Sentiment Edges Higher
Consumer sentiment edged up in September after a big fall in August. (Getty Images) By Richard Lawson CoStar News Consumer Sentiment Edges Higher Consumer sentiment ticked up in September after a sharp decline in August, according to a much-watched economic indicator. The University of Michigan’s consumer sentiment index, which has been produced since 1952 based on surveys, rose to a 71 reading in September from 70.3 in August. August’s reading was a sharp decline from July’s 81.2. Richard
Monday, September 20, 2021Commerce Update
Governor Pritzker Joins Boeing to Announce $200 Million Investment to Launch Production of New U.S. Navy Aircraft in Metro East Landing the state’s latest aviation win, today Governor JB Pritzker joined Boeing to announce the company’s new $200 million state-of-the-art facility which is set to bring up to 300 jobs to the region in the years ahead. This high-tech facility will house production of the MQ-25 Stingray, the U.S. Navy’s first carrier-based unmanned
Monday, September 20, 2021Senator DeWitte to offer FREE individualized assistance to small businesses applying for Back to Business grants
State Senator Donald DeWitte (R-St. Charles) invites small business owners from the 33rd District to receive free help filling out applications for the state’s Back to Business grant program. “Small businesses are still struggling to recover from the devastation they endured during the height of the COVID-19 pandemic, and these grants can help our small business owners get back to serving their customers,” said Sen. DeWitte. “The application deadline for Back to Business grants is Monday, October 11, so
Friday, September 17, 2021International Trade Opportunities
Business Opportunities in Central America Webinar SeriesDoing Business in Costa RicaDoing Business in El SalvadorDoing Business in HondurasDoing Business in GuatemalaDoing Business in BelizeDoing Business in Nicaragua Trade Mission to Central America and Business Conference The U.S. Commercial Service has organized a Central America webinar series focused on highlighting business opportunities and key projects in the region's best prospect sectors including agriculture, food processing and packaging
Friday, September 17, 2021Retail Sales Climb, SpaceX Launches
By Richard Lawson CoStar News Retail Sales Climb Retail sales rose in August, surprising experts who had projected a drop given the surging delta coronavirus variant. The Commerce Department reported that sales increased by 0.7% from July’s revised decline of 1.8%, which was worse than the 1.1% originally reported. Wall Street expected sales to decline by 0.8% in August. General merchandise stores, furniture and home furnishings were the biggest gainers on the brick-and-mortar side. But the internet
Thursday, September 16, 2021Hotel Investors: 'Now Not Time to Play Hero'
From left, Cody Bradshaw of Starwood Capital; Benjamin Habbel of Limestone Capital; Brian Kaufman of Blackstone; and Dominic Seyrling of Archer Hotel Capital participate in a panel at the International Hotel Investment Forum in Berlin. (Terence Baker) By Terence Baker Hotel News Now Usually deemed to be bedrocks of nerve and insight, investors also have been on a rocky road through the COVID-19 crisis, but success in real-estate investment in the hotel industry continues to rely on flexibility,
Thursday, September 16, 2021Industrial Production Increases, Hotel Occupancy Drops
Factory activity in the New York region jumped in September. (CoStar) By Richard Lawson CoStar News US Hotel Occupancy Drops U.S. hotel occupancy’s weekly decline resumed while weekend travelers helped soften the dip.Occupancy for the week that ended Sept. 11 fell a percentage point to 60%, according to hotel industry research firm STR, which is owned by CoStar Group. Hotels had dealt with Labor Day and Rosh Hashanah holidays over the past couple of weeks. Weekend occupancy averaged about 70%.
Wednesday, September 15, 2021The Urban Exodus Begins To Turn
The Urban Exodus Begins To TurnNew Analysis Finds People Moving Back to Cities, Close-In SuburbsCoStar Group, www.costar.com By Rohit Diwadkar CoStar News The COVID pandemic resulted in hundreds of thousands of Americans leaving urban centers for small towns and other places far outside major cities, many seeking less dense spaces to minimize their exposure to the infectious coronavirus and to take advantage of work-from-home policies. That migration now appears to be slowing. A new analysis finds
Wednesday, September 15, 2021Holiday Retail Sales Predicted To Rise, Top Areas for Rental Demand Potential, Inflation Growth Slow
Holiday Retail Sales Predicted To Rise, Top Areas for Rental Demand Potential, Inflation Growth SlowsWhat You Need To Know To Start Your Day Holiday sales are projected to be better this year than last. (Getty Images) By Richard Lawson CoStar News Holiday Retail Sales Seen Rising Despite a surge in coronavirus cases, consulting firm Deloitte is projecting that retail sales rise from last year in both brick-and-mortar and e-commerce.In its annual holiday forecast, Deloitte’s retail team forecast
Tuesday, September 14, 2021Eighteen Months Into the Pandemic
Eighteen Months Into the Pandemic, Delta Slows MomentumEarlier this year, as vaccinations became widely available, hopes abounded for a quick recovery from the economic ruin visited upon us by the coronavirus pandemic and the efforts to contain it. It has now been 18 months since COVID-19 was declared a national emergency in the U.S. And unfortunately, cases are rising again in many parts of the country, driving governments and businesses to take additional measures. Social
Tuesday, September 14, 2021Democrats Propose Tax Increases, Office Use Down, Consumers Brace for Inflation
Democrats Propose Tax Increases, Office Use Down, Consumers Brace for InflationWhat You Need To Know To Start Your Day Democrats have proposed tax increases to help pay for President Biden's proposal for soft infrastructure. (Getty Images) By Richard Lawson CoStar News Democrats Propose Tax Increases Lawmakers have started tackling how to pay for President Biden’s proposed $3.5 trillion spending bill on what’s been described as “soft infrastructure,” often considered services needed to preserve a
Friday, September 10, 2021Export Opportunities
Dear Illinois Exporters, The Office of Trade & Investment (OTI) continues to offer services to Illinois businesses to support export promotion and international sales growth. Below is a list of upcoming webinars that will provide the opportunity to learn about OTI’s services and planned trade missions, including available resources for Illinois firms. OTI’s team of Chicago-based International Trade Specialists and our six foreign trade offices in Belgium, Canada,
Friday, September 10, 2021Biden Pushes Vaccine Mandates, Jobless Claims Drop Again, Microsoft Scuttles Return to Office
Biden Pushes Vaccine Mandates, Jobless Claims Drop Again, Microsoft Scuttles Return to OfficeWhat You Need To Know To Start Your Day President Biden is requiring federal employees to be vaccinated and plans to require some businesses to mandate shots. (Getty Images) By Richard Lawson CoStar News September 9, 2021 | 7:36 P.M. Biden Pushes Vaccine Mandates President Biden took the biggest step yet toward mandating vaccines for millions of Americans, saying the delta variant of the coronavirus
Thursday, September 09, 2021The New Direction of Apartment Construction
Source: CoStar Group, www.costar.comThe New Direction of Apartment ConstructionBuilders Follow Renters as Populations Shift in the Pandemic By Rohit Diwadkar CoStar News The National Association of Home Builder's latest update to its Home Building Geography Index showed a sizable jump in construction in small towns and suburban markets, and a marked shift away from work in big cities and other urban areas. The index attempts to measure construction across the country by looking at local building
Thursday, September 09, 2021Employees' Individual Needs, Broken Trust Complicate Hotel Labor Shortage
Employees' Individual Needs, Broken Trust Complicate Hotel Labor ShortageShortage Has Led to Staff Burnout and Guests Unhappy Hoteliers continue to struggle hiring and retaining quality employees, resulting in tougher working conditions for those already on the job and less-than-satisfied guests. Pictured here is a job fair held by Zislis Group job fair at The Brew Hall on June 23 in Torrance, California. (Getty Images) By Bryan Wroten Hotel News Now NASHVILLE, Tenn. — The leisure demand and
Wednesday, September 08, 2021Labor Shortages Are Disrupting Many Parts of the Economy
Labor Shortages Are Disrupting Many Parts of the Economy Recent economic reports have shown the impact of rising COVID cases as the delta variant spreads across many regions of the nation, disrupting business operations and hiring, and slowing economic momentum as the summer comes to an end. Citing the health crisis, many workers have fallen out of the labor force either to retire or to limit exposure to themselves or their loved ones. Labor shortages, as
Wednesday, September 08, 2021Declining US Hotel Occupancy a Clear Sign of Leisure Season Reaching Its End
Declining US Hotel Occupancy a Clear Sign of Leisure Season Reaching Its EndHotel Room Night Demand at Lowest Level Since Early June During the week of Aug. 22-28, six U.S. states saw demand grow week over week, led by Massachusetts. Pictured is the Fort Point Channel in Boston. (The Boston Globe/Getty Images) By Isaac Collazo STR September 3, 2021 | 8:00 A.M. U.S. hotel performance for the week ending Aug. 28 reflected seasonal trends as well as the continued impact of the pandemic on business
Tuesday, September 07, 2021Here's How Long It Could Take States To Recover Lost Jobs
Source: CoStar Group, www.costar.com Here's How Long It Could Take States To Recover Lost JobsSome Could Be Back to Pre-Pandemic Employment Levels in Months. Others Might Take Years. By Rohit Diwadkar CoStar News Unemployment spiked in the early days of the pandemic, no more so than in April of 2020 when many communities and workplaces went into lockdown for all but essential services. Ever since then, it's been a slow slog to rehire workers and return to the employment levels that predated the public
Tuesday, September 07, 2021US Apartment Market Evades Late Summer Slowdown As Rents Keep Rising
US Apartment Market Evades Late Summer Slowdown As Rents Keep RisingSteady Demand Pushes Vacancies Lower and Contributes to Skyrocketing Rent Growth San Francisco has seen one of the sharper turnarounds, with asking rents now up nearly 5% year over year. (Alexander Spatari/Getty Images) By Jay Lybik and David Kahn CoStar Market Analytics The U.S. multifamily sector headed into the third quarter of 2021 on the upswing, as record-setting demand pushed vacancy rates lower in the first half of the year.
Thursday, September 02, 2021Five Below Hits Record Expansion Pace, ADP Payroll Numbers Disappoint, Construction Spending Rises
Five Below Hits Record Expansion Pace, ADP Payroll Numbers Disappoint, Construction Spending RisesWhat You Need To Start Your Day Source: CoStar Group, www.costar.com A Five Below store in Pickerington, Ohio. The company had strong sales in its latest quarter. (CoStar) By Richard Lawson CoStar News Five Below Hits Record Expansion Pace Discount retailer Five Below opened so many new stores in its recent quarter that it put the chain on a record expansion pace for its fiscal year. The
Thursday, September 02, 2021US Takes Steps To Boost Affordable Housing Supply
US Takes Steps To Boost Affordable Housing SupplyWhite House Says the Move Is in Response to an Investor Surge in Single-Family Rental Homes Source: CoStar Group, www.costar.com New federal steps would boost financing for affordable housing such as mobile homes. (iStock) By Mark Heschmeyer CoStar News The Biden administration, in an attempt to increase affordable multifamily housing across the United States, plans to offer more attractive financing for investors, raise Fannie Mae and Freddie
Wednesday, September 01, 2021The Evictions That Didn't Happen
The Evictions That Didn't HappenSource: CoStar Group, www.costar.comWhile Evictions Dropped Nationwide, Las Vegas and Parts of Florida Were Still Near Historical Levels By Rohit Diwadkar CoStar News The Supreme Court recently blocked the latest extension of a federal eviction moratorium, bringing to a close a period that saw 1.55 million families stay in their homes a little longer. Princeton University's Eviction Lab offered up that estimate by analyzing eviction filings reported by 31 cities and six
Wednesday, September 01, 2021Small Business Hiring Hits New High, Ida Damage Estimated Less Than Katrina, Another Consumer Survey
Small Business Hiring Hits New High, Ida Damage Estimated Less Than Katrina, Another Consumer Survey Shows DeclineWhat You Need To Know To Start Your DaySource: CoStar Group, www.costar.com Rising coronavirus cases doesn't seem to be affecting small business hiring. (Getty Images) By Richard Lawson CoStar NewsSmall Business Hiring Hits New High Small businesses appear to be defying some of the economic fallout the spreading coronavirus delta variant is having on the country. Hiring rose in
Tuesday, August 31, 2021Final Countdown Begins
After 17 months of government support to ameliorate the impacts of the pandemic, programs are starting to wind down or end altogether, leaving the economy to stand on its own. Next up is the end of two unemployment benefit programs: the Federal Pandemic Unemployment Compensation program, which adds an extra $300 per week in federal benefits to existing state benefits, and the Pandemic Unemployment Assistance program, which has expanded benefit eligibility to many who previously did not qualify for
Tuesday, August 31, 2021CoStar’s Pandemic Recovery Dashboard for the US
CoStar’s Pandemic Recovery Dashboard for the USSource: CoStar Group, www.costar.com A Look at What’s Happening Across the Nation's Economy . By Rohit Diwadkar CoStar News Recovery Tracker Oxford Economics compiles measurements of various parts of the economy to create its "Recovery Tracker." The index has been showing steady gains so far this year. Covid-19 Stringency The index is developed by University of Oxford and Blavatnik School of Government to analyze policies that restrict people’s
Monday, August 30, 2021Competition Drives Property Prices to Record Highs
CoStar, a real estate data base, recently published its latest monthly CoStar Commercial Repeat - Sale Indices that shows an upswing in the sale-price-to-asking-price ratio. According to them, the competition for commercial real estate has heating up....to ream more about the article, please link
Monday, June 28, 2021Increase to Chicago Minimum Wage
July 1, 2021 Increase to Chicago Minimum Wage….But No Change to Cook County Minimum Wage Despite Written Notices By Michael Wong and Sara Zorich – SmithAmundsen LLC – www.salawus.com It’s that time of year (again) for increases in minimum wage. However, this year is slightly different! In spite of the Cook County written notices that some employers may have received, the Cook County Minimum Wage for non-tipped employees is NOT increasing, as the unemployment rate for Cook County during the prior year
Wednesday, May 26, 2021What Employers Need to Know About the American Rescue Plan Act
The American Rescue Plan Act (ARPA), also referred to as the COVID-19 Stimulus Package, is commonly known for providing a third round of stimulus payments to eligible adults. However, the American Rescue Plan Act also has implications for employers and their employees regarding workforce management and the implementation of COVID-19 workplace policies and procedures. As your HR experts, we’ve reviewed the law and what it means for you, your business, and your employees. Here’s our breakdown of the key
Wednesday, May 12, 2021Seeing blue: New EV charging station signs to appear soon along Illinois interstates
Seeing blue: New EV charging station signs to appear soon along Illinois interstates Seven corridors will have the signs directing travelers to alternative fuel locations SPRINGFIELD – The Illinois Department of Transportation announced today that new signs will start appearing along interstate corridors, guiding motorists to charging stations for electric vehicles. The signs are part of a national effort to promote alternative fuels that will also spark economic activity in Illinois communities and
