posted on October 31, 2016
(Rock County, WI) According to the quarterly release of the 2016 Rock Ready Index, Rock County’s economy continues to exhibit steady growth characteristics. Highlights from the Q3 report include the following:
Unemployment rates continue to push toward historically low levels. With steady demand for Healthcare and Transportation & Material Moving positions, as demonstrated by another quarter where over 20,000 regional jobs were posted, employers are continually facing a dynamic retention / recruitment environment. As businesses deploy new strategies to elevate their employer of choice status, they are reminded to leverage the resources available through www.JobsInRockCounty.com. During this platform's first six months, it has recorded almost 80,000 page views and generated online traffic from nearly every U.S. state.
Rock County’s residential market continues to surge upward, as Q3 2016 set another record pace. With the average sale price of single-family homes approaching $153,000 and where transactions have only been limited by supply versus demand, all indicators suggest the residential market is operating at peak capacity.
Meanwhile, the area’s cash registers continue to ring very strong - as Q3’s collections of $3.30 Million represents one of the strongest quarters on record. Since 2014, the County’s collections have pushed beyond the $3 Million benchmark eight out of 11 consecutive quarters. If these collections maintain their pace, there is a strong likelihood that year-end collections might reach a new historic level of $13 Million.
Energy consumption, as measured by the number of meters and usage, continued to reflect economic and seasonal influences. Based on feedback from a various stakeholders, an overwhelming majority of area firms are operating at or near pre-Great Recession levels.
Toledo Molding Die, Inc. (TMD) a supplier to the Fiat Chrysler Belvidere (Jeep Cherokee) Assembly Plant, is this quarter's featured Project Profile. TMD is scheduled to begin staffing-up their Beloit operation Q1/Q2 2017, which will be housed in a 105,000 SF spec building that Hendricks Commercial Properties developed. This attraction project exemplifies the pivotal, as well as collaborative, role played by the public and private sectors with respect to impactful economic development activities.
The Rock Ready Index (RRI) is a quarterly economic development dashboard compiled and distributed by the Rock County Development Alliance. The RRI covers four topical areas: Workforce (Job Postings and Unemployment Rates), Real Estate (Residential, Commercial or Industrial) Trends, Sales (Tax Collection) Activities and Energy Consumption (Meters & Usage). Each Index also includes a Project Profile section, which highlights project specific news during a given quarter.
For additional information, visit www.RockCountyAlliance.com.