The Tri-State Development Regional Report
news & updates
DECEMBER 2023 | Issue 13
Upcoming Events
DECEMBER
13 Corn Belt Ports Federal Grant Presentation (PIDP), 10:00am CST
22 - Jan. 1 Closed in observance of the Christmas holiday.
Wishing all of our friends and partners throughout
the Tri-State Development region
a very Merry Christmas
and a Happy New Year!
JANUARY
15 Closed in observance of Martin Luther King, Jr. Day
18 Corn Belt Ports Office Ribbon Cutting at Culver-Stockton College, 10:00am CST
During the Holidays Regional Small Businesses Shine Bright
With the holiday season in full swing, the festive spirit takes center stage, and so does the emphasis on giving. While big-box retailers and online giants often dominate the spotlight, it's important not to overlook our rural small businesses. These establishments play a vital role in fostering community spirit, supporting local economies, and providing unique, handcrafted treasures that add a special touch to holiday celebrations and gift-giving.
 
Rural small businesses are the heartbeat of many communities, creating a sense of belonging and familiarity. During the holiday season, these businesses offer more than just products; they provide a personal touch and a unique shopping experience that is hard to find while battling the lines and crowds in larger retail outlets. And shoppers aren't just purchasing items; they're investing in the dreams and aspirations of their neighbors and friends. According to RetailDive's November brief, surveys indicate that 72% of holiday shoppers plan to purchase from a small business in person or online during the holiday season. That marks an increase from 65% who said the same last year.

HOW REGIONAL RETAIL DRIVES THE ECONOMY

We thought it might be interesting to take a look at our retail establishments and the friends and neighbors that they employ throughout the region during this holiday shopping season.

SHOP LOCAL IS MORE THAN JUST A SLOGAN
Insights from Regional Retail Data
Across Illinois, Iowa, and Missouri, the number of retail establishments, the associated workforce, and the percentage of total employees engaged in the retail sector vary, yet collectively underscore the sector's importance.

Retail establishments are businesses that sell goods and services directly to consumers for personal use. Retail includes clothing stores, grocery stores, auto dealers, hardware stores, and general merchandise. For our purposes, restaurants are not included in these retail sector statistics because they are counted separately within the accommodations and hospitality sector.

In the 36 counties of our Tri-State Development region, the retail sector is the 3rd largest employer, with healthcare and manufacturing taking the top two spots.

The data provided in the chart above illustrates the substantial impact of the retail sector on the economic landscape of the Tri-State Development region.
  • Illinois: With 36,105 retail establishments employing 571,707 individuals, the retail sector accounts for 10.8% of all employees in the state. Notably, Tri-State counties in Illinois account for a collective 16.5% share of employees working in retail. Knox County stands out with 25.2% of its workforce employed in retail.
  • Iowa: The state has 11,062 retail establishments with 186,113 employees, representing 13.8% of all employees. Des Moines County leads with 19.1% of its workforce engaged in the retail sector, outpacing the state retail percentage rate by 5.3%.
  • Missouri: Boasting 19,815 retail establishments and 308,786 employees, the retail sector makes up 12.5% of all employees in the state. 17.4% of employees in the 14 counties in northeast Missouri that comprise the Tri-State Development region work in retail. Schuyler County stands out with a whopping 30.8% of its workforce involved in retail.

The retail sector is a vital component of the economic fabric in Tri-State Development counties, contributing significantly to employment and economic vitality, and highlighting its close correlation to small businesses within our region. Supporting the local retail establishments in our communities leads to vibrant, diverse economies that strengthen all of us living, working, and doing business in the Tri-State Development region.
Sue Goulder
Assistant Executive Director
sgoulder@culver.edu
Tri-State Development hires
Assistant Executive Director
We are pleased to announce that SUE GOULDER has joined Tri-State Development!

Sue has an impressive background in economic development, most recently leading these efforts as the Executive Director of the Macon County Economic Development Commission in northeast Missouri. Her expertise and dedication to supporting economic growth will be a valuable asset to the 36 counties of the Tri-State Development region.

Sue will play an integral role in all of the Tri-State Development activities as we focus on supporting the economic growth of the region.
Tri-State Development Task Force Meetings
UPCOMING Task Force Meetings
Broadband Task Force Meeting
Next Meeting: February 23, 2024, 2:00pm
Location: TBD
Join by Zoom: Click here
Please note: this meeting date has been updated from a previous communication. Please update your calendar to reflect the Feb. 23rd meeting date.

Childcare Task Force Meeting
Next Meeting: February 13, 2024, 10:00am
Location: TBD
Join by Zoom: Click here

Transportation & River Task Force Meeting
Next Meeting: February 8, 2024, 2:00pm
Location: TBD
Join by Zoom: Click here

Regional Health & Wellbeing Task Force Meeting
Next Meeting: February 27, 2024, 2:00pm
Location: TBD
Join by Zoom: Click here
Interesting Reading from the Experts
Deloitte's 2023 Holiday Retail Survey
Deloitte Insights

By Nick Handrinos, Brian McCarthy, Stephen Rogers, Lupine Skilly, Kusum Manoj Raimalani
Our friends at the U.S. Chamber of Commerce share some insight into the trends that will shape small businesses in 2024.
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Kick off the New Year Right!
Are you interested in providing your council, board, or organizational leadership with the basics of economic development? The Economic Development workshop offered at the Summit is now available for communities throughout the Tri-State region.

To schedule this workshop in your community, please contact Leslie Sieck at LSieck@culver.edu.
Online Grant Writing Courses Available!
Are you interested in developing your skills as a grant writer? Take a look at these online skill-building courses that will help you craft compelling applications for funding.
Port Development Federal Grant Opportunity
On December 13th at 10:00 a.m., Corn Belt Ports is providing a one-hour event to inform all stakeholders of a federal funding opportunity.

USDOT’s Port Infrastructure Development Program (PIDP) offers private enterprises a unique opportunity to reduce the capital cost of projects by up to 80% by partnering with public entities to develop and rehabilitate river-based terminal facilities. Click HERE for more information.

Microsoft Teams Meeting
Dec. 13, 10:00am CST
Join on your computer, mobile app or room device
Click here to join the meeting
Meeting ID: 225 230 443 082
Passcode: 2r3Kxj
Please join us in thanking our community partners who support
Tri-State Development and the economic prosperity of our region.

Presenting sponsor:
and supported by:
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Tri-State Development at Culver-Stockton College supports the region by cultivating collaborative relationships, promoting interdisciplinary problem-solving, fostering the expansion of academic-organization-industry initiatives, and developing an environment for collective impact to address the current and emerging economic, and social challenges in the region.
Tri-State Development Summit at Culver-Stockton College | [culver.edu/tsd]
Leslie Sieck, Executive Director [lsieck@culver.edu]