Forbes ranks Kankakee County ninth nationally in cost of doing business, second in Illinois for job growth
KANKAKEE, IL –September 10, 2014 – Forbes’ recently released “Best Small Places for Business and Careers” ranking positions Kankakee County favorably among its peer communities in cost of doing business, job growth and high-tech employment, reports the Economic Alliance of Kankakee County. Statewide small community counterparts that placed in the top 200 listing along with Kankakee County include Springfield, Bloomington, Champaign, Decatur and Danville.
Highlights of the Forbes study for Kankakee County include:
- #9 ranking nationwide among small cities for cost of doing business;
- #2 ranking among Illinois small cities for job growth, a measure largely based on five-year projections; and
- High-tech employment at 3.7%, which is competitive with communities that boast centers of state government and/or major institutions of higher learning.
“Forbes’ results are very consistent with those produced by the Milken Institute last year,” notes Mike Van Mill, Alliance President and CEO. “We are encouraged particularly by the job growth numbers. Our companies are expanding and providing an increasing number of quality jobs.
“Clearly, Kankakee County is on a strong upward trajectory.”
In the last 24 months, the Alliance has tracked and facilitated $430 million in announced and completed capital investment in Kankakee County. The Kankakee-Bradley Metropolitan Statistical Area is currently ranked second statewide in GDP growth and is ranked the top “small city” in Illinois for growth by the Milken Institute.
In compiling its 2014 ranking, Forbes considered a total of 12 metrics relating to job growth, business and living costs, income growth, educational attainment and projected economic growth through 2016. Also factored were net migration patterns, cultural and recreational opportunities, and the presence of highly ranked colleges in a given area. Greatest weigh was given to business costs and educational attainment. Data was collected from Moody’s Analytics, Sperling’s BestPlaces index and the U.S. Census Bureau.
The Economic Alliance of Kankakee County is a public-private partnership that works to create jobs and expand the economic base by improving the local business climate. For more information, visit kankakeecountyed.org or phone 815.935.1177.