Measuring the Success of Rockforward!

The goals of Rockforward! are methodically tracked through numerous metrics to evaluate the effectiveness of the RAEDC’s marketing and recruitment activities.  These include:
•    net new primary jobs and jobs recruited
•    per capita income
•    international exports
•    Gross Metropolitan Product (GMP) increase, including Rockforward!’s impact on GMP
•    population growth
•    economic development exposure
•    development ready land parcels

The RAEDC utilizes a wide array of statistical resources to produce these metrics, including the Illinois Department of Employment Security, the U.S. Department of Commerce, the U.S. Census Bureau, the U.S. Bureau of Economic Analysis, Northern Illinois University, and our own Voice of the Customer surveys.

To view our latest Annual Report for 2010, click here.

Evaluating 2010 Results

In 2010, we continued with our adjusted models in response to the recession. While an annual fixed rate of growth no longer applies as when the Rockforward! campaign was started, we are able to make several observations regarding Rockforward!’s primary metrics.

First, available jobs remained relatively constant or actually increased in most major industries through 2010 while the number of unemployed decreased 19.5%. The largest gains were in manufacturing (+1.1%), trade (+3.8%), transportation/warehousing/utilities (+2.7%), educational and health services (+1.3%), and government (+1.8%). This is consistent with regional and national trends.

Second, while the U.S. Bureau of Economic Analysis accelerated availability of the 2008 GMP figures, no accelerated figure was released for 2009 last year. Our region’s GMP increased from $12.1 Billion to $12.4 Billion in 2008. This is largely due to a steady increase in exports.  We can also point to results from 2010 client projects managed by the RAEDC and our regional partners. These results indicate our region is working together to achieve our goals despite the unprecedented economic downturn.

As estimated by our clients, 2,051 new jobs will be created in the Rockford Region by existing and new employers, $50.9 Million of capital investment will be made, and 580,500 square feet of space will be added in the coming years.