The Tri-State Development Regional Report
news & updates
MAY 2023 | Issue 7
Upcoming Events
MAY
SMALL BUSINESS MONTH
14 Mother's Day
22 National Maritime Day
29 Memorial Day
Interested in hosting a task force meeting? Please contact Leslie Sieck at LSieck@culver.edu
JUNE
8 Tri-State Development Advisory Board Meeting: Online only
Celebrating Small Business Month in the Tri-State Region
May is Small Business Month and we are diving into the landscape of small business throughout the Tri-State region. Often referred to as the “backbone” of the American economy, small businesses are typically defined as those that are independently owned and operated, have fewer than 100 employees, and with annual revenues of less than $10 million. But there are exceptions. According to the SBA, most manufacturing companies with 500 employees or fewer, and most non-manufacturing businesses with average annual receipts under $7.5 million, will qualify as a small business.
Tri-State Development Regional Statistics and Insights on Businesses
Charts can be made more visible with a simple click!
Nearly 5.4 million applications were filed in the U.S. to form new businesses in 2021 — the most of any year on record. Our region mimicked the national trend with a leap in filings!

Applications for businesses likely to hire employees rose in every state in 2021.

Annual new business applications doubled in the transportation and warehousing sector between 2019 and 2021. 


When it comes to owning and operating a small business, the Tri-State region outpaces state and national percentages.

The guys have definitely shown themselves to be the most likely of us to strike out on their own with 8.56% of the regional male population reporting as self-employed. The ladies aren't shying away from the challenge matching the national average with a 5.09% self-employed participation rate.
The #1 fastest-growing industry in 2023 is shipping and delivery services. The rising popularity of online purchases has led to an increased demand.

According to Entrepreneur Magazine, the healthcare industry is projected to expand by 19%, making it the second fastest-growing sector. Small businesses that can fill a healthcare niche should have market support - from telehealth services to professional medical staffing.
Tri-State Development Grabs National Attention
Last month, The Daily Yonder featured a unique program that Tri-State Development is offering to students throughout the region. With a deliberate aim toward developing programs and projects that highlight our importance to the rest of the country, we are pleased that those from outside our area are beginning to take notice.
Interesting Reading
The Rise of Pandemic Growth Regions
The pandemic ushered in a period of huge disruption to American life, altering how and where people across the United States live. The U.S. Census Bureau’s recently released 2022 county population estimates provides an opportunity to take stock of the extent to which the map of the country’s population growth has subsequently shifted. 

Interesting Listening
A recipe for a rural policy renaissance
Anthony F. Pipa Wednesday, March 22, 2023
In this episode of Reimagine Rural, host Tony Pipa reflects on lessons learned throughout his journeys across rural America. He hears from new and old friends about the most important elements of effective rural policy—investing in local leadership and capacity, improving coherence at the federal level, and investing in flexible, substantial grants—but is also reminded that beauty, quality of life, and pride of place are key catalysts for community renewal.

Wednesday, September 13 - Thursday, September 14
Oakley-Lindsay Center, Quincy, IL

Registration is now open!



NEW THIS YEAR!
  • Introductory Economic Development Workshop

  • Speed Networking Event

  • Multiple Engaging Breakout Sessions

  • Opportunity for Sponsor Exhibit Tables
We are gearing up for a very exciting
Tri-State Development Summit 2023
and want to see you there!
JUNE 1
Deadline for Presentation Submissions
Transform your ideas, research, and best practices into a presentation at the 2023 Tri-State Development Summit. These presentations are meant to spark innovative thinking, encourage dialogue, and drive new solutions for our greatest regional challenges.

Tri-State Development Summit 2023
Full-day program: Thursday, September 14th
Oakley-Lindsay Center, Quincy, IL
 
We want to hear from you!

Anyone interested in sharing their experiences, ideas, or knowledge with the greater Tri-State Development regional community is asked to submit a presentation proposal no later than June 1, 2023.
 
Presentations will be provided to attendees in concurrent sessions, allowing for choices among a number of diverse and interesting topics. Some presenters may be asked to present in more than one session throughout the day.

CLICK HERE for more information about presenting at the Tri-State Development Summit 2023.
To submit a presentation for consideration, please CLICK HERE.
TASK FORCE UPDATES
Please click on the link to the right to access the notes from meetings held to date.

The Tri-State Development Task Forces meet regularly to discuss challenges and opportunities and to develop action plans to move regional initiatives forward. We have completed the first meeting for all seven task forces. To review the discussion notes and actions, please click on the links provided.

Thank you to those participating in the task force meetings, providing insight, direction, and perspective. We value participation from all stakeholders in the Tri-State Development region and encourage you to register for the next meeting.
Tri-State Development is eager to share the progress and impact of task force efforts by providing access to meeting discussion notes and follow-up actions. Please click on the links below to review the most recent task force notes.
Catch up on the Tri-State Development Newsletters that you missed!
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.
Please join us in showing gratitude to our Sponsorship Partners who generously support Tri-State Development at the Presenting and Program levels. Their investment helps support the annual Tri-State Development Summit, investments in stakeholder resources, as well as programs and projects throughout the year.
Tri-State Development Summit at Culver-Stockton College | [culver.edu/tsd]
Leslie Sieck, Executive Director [lsieck@culver.edu]