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As an anchor to the 30-county region with 1.7 million people, the Peoria area boasts a big city lifestyle with a small town feel, having world class healthcare and educational opportunities with numerous leading hospitals and universities.
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With a dynamic market that continues to defy the economic trends that persist in so many other areas, demographics show that population for the area is trending as stable and household incomes are rising.
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Unemployment rates are continuing to trend in a positive direction and the community is one of the top two in the state for adding payroll jobs. Peoria alone, led the state in job creation—behind only the Chicago area—with 4,000 jobs added over the past twelve months (June 2018 – 2019). The regional unemployment rate now sits at 4.2% as of June 2019, dropping from 5.3% in January 2018.
Bureau of Labor Statistics
Key factors that help set the Peoria area apart from other cities within a 100-mile-radius include the Peoria Civic Center, the Peoria medical community and General Wayne A. Downing International Airport, the largest airport between Chicago and St. Louis.
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Factors like affordability, world class healthcare, rising employment rates and a wealth of college and universities in the area make Peoria the ideal place to live with the perfect balance of big city amenities and a small-town feel.
Peoria is among the five most affordable metro areas. “Peoria has the highest house prices. But it also has the highest median household income among the five, boosting affordability.”
- U.S. Census Bureau & NerdWallet 2018
With a 140-year history, Peoria-based OSF HealthCare is the largest member of the area’s medical community and one of the largest employers in the state. OSF HealthCare recently announced it’s ministry headquarters in Peoria will house 700+ employees.
- CIProud 2018
Employment increased by 3,374 workers through 2017. At the end of January 2017 Greater Peoria’s total employment was 176,493 and by the end of the year increased to 179,867.
- Greater Peoria EDC & Burea of Labor Statistic Dec 2017
Healthcare is Peoria’s largest and fastest-growing employment
sector with over 700 healthcare facilities and offices that employ over 32,000 Greater Peoria residents.
More than 46,000 students are within driving distance of the center including: Bradley University, Illinois Central College, Illinois State University, Heartland Community College, Illinois Wesleyan University
- Colleges/Universities website 2018
#13 Best place for STEM Grads
- NerdWallet 2016
The Peoria region spends $1B in research and development annually to continue being top in the fields of healthcare, technology, and innovation.
- Greater Peoria Economic Development Council
Illinois remains amid top states for new and expanding facilities for the second year in a row.
- Site Selection Magazine 2018
Consumer spending at retail outlets increased by an estimated 3.5 percent, to $1.389 billion
- Bradley University 2016
The Peoria Region is a hub for transportation to the nation’s population and is accessible to the world via road, rover, rail and air. The region is ranked among the top 20% of the logistics metros by Expansion Management.
The Peoria region is globally connected, being served by the General Wayne A. Downing Peoria International Airport, and airports in Bloomington, Springfield and Moline; and interstate highways connecting major cities within the region. Besides being a recreational resource, the Illinois River is used heavily by barges to transport bulk goods.
