The Greater Peoria region exported more merchandise per capita than any other place in the United States by exporting $29,284 worth of merchandise per person in 2010. Regional exports totaled an estimated $11.1 billion in merchandise making Greater Peoria the 22nd largest export market in the country according to the International Trade Administration.
Steve Jaeger, Director of TransPORT, says this significant increase in manufacturing output in Greater Peoria demonstrates why four Class I and five regional freight railroads, plus 35 motor carriers, operate in Greater Peoria. “There is a continuous traffic in high-value products that can move in very significant volumes when world markets are robust.” Between 2009-2010 our exports grew by 42% making this region one of the fastest growing export regions in the country and a true sign of economic recovery. This growth allowed us to go from the 28th largest exporter in the U.S. in 2009 to the 22nd in 2010. Greater Peoria’s exports also accounted for 17.3% of all Illinois’ exports. Only items that begin their export journey in this MSA count towards our overall export total.
Jaeger explains that this information proves there is an increased demand in manufacturing and in turn an increased confidence among manufacturers. “The players in this surge of activity to world markets include Caterpillar, Komatsu, Case New Holland, Kress Manufacturing and Excel Foundry, and those only cover the heavy equipment industry. Since the doldrums of the 2008-09 recession, Greater Peoria makers of industrial goods have enjoyed remarkable success in selling these goods overseas, especially in this hemisphere.”
The five most popular products exported from Greater Peoria are machinery, fabricated metal products, chemicals, transportation equipment and electrical equipment. The most popular destinations for exports from our region are Chile, Canada, Brazil, Belgium and Australia. Jaeger says with growth like this, Greater Peoria will continue to be in the forefront of the industry. “The U.S. Maritime Administration has already designated the region as origin point for a pioneering barge service for industrial goods from Peoria to deepwater ports on the Gulf. Greater Peoria received this designation because of its dominance in this manufacturing sector, just as these statistics indicate.”
This information is useful beyond just the transportation sector because the concentration of specialized manufacturing here spawns a workforce with transferable skills that firms from outside the area can tap into by locating in Greater Peoria. “The transportation infrastructure that’s already established in the region furnishes options to new arrivals that are likely unavailable in other markets of this size.”
This information is based on the 2010 census and most recently updated in March 2012 by the International Trade Administration. We expect first half of 2011 results to be released this fall and the full 2011 results to be released
by spring 2013. To talk with Steve Jaeger please call 309-285-0412 or firstname.lastname@example.org or Renee Charles at 309-229-7791 or email@example.com.