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(Rock County, WI) According to the quarterly release of the 2017 Rock Ready Index, the Janesville-Beloit MSA’s economy continues to gain steam. Highlights from the Q3 report include the following:

For the fifth quarter in a row, the average annual Unemployment Rates for the County / State / U.S. remained below five percent. This same general theme held true for job posting activities too, as regional job openings reached over 30,000 for the fifth consecutive quarter. Per usual, job boards were dominated by Healthcare, Transportation & Material Moving and Office & Administrative Support job postings.

Characterizing the Janesville-Beloit housing market as robust, is an understatement, as housing prices for Q3 2017 set yet another record with an average sale price of $158,832. Compared to the same time period a year ago, the current quarter posted a four percent gain. Meanwhile, the price point differential between Q3 and Q2 2017 was relatively minimal - as Q2 recorded an average sale price of $157,833. During Q3, more than 50 single-family and condo/duplex residential permits were issued. 

The County’s Sales & Use Tax collections remained extremely strong, reaching a new all-time quarterly benchmark at $3.6 Million. This new record, which is three percent above the previous Q4 2016 record high, positions the County to reach and/or exceed $13 Million by year-end. The implications of strong local buying patterns, coupled with other positive indicators, are visible among the County’s hospitality and retail corridors.  

The Economic Development (ED) Pipeline, which provides an aggregate snapshot of the industrial / warehousing and select commercial development opportunities expressing an interest in SC WI, the Janesville-Beloit MSA and/or the Stateline area, remained populated by various industry sectors, including but not limited to: Food Processing, Information Technology, Logistics, Metal Fabrication, Plastics and other sectors too. Space availability, specifically with regards to industrial and warehousing square footage, is a premium and demand is currently outpacing supply.

Speaking of space, this quarter’s featured project is N1 Critical Technologies – which is expanding and relocating its operation. Within a few years, N1 expects to fill its renovated downtown Janesville building with more than 30 full-time employees. This project, which has incubation roots in the Janesville Innovation Center, represents another technology-related firm that is investing and growing throughout the Janesville-Beloit MSA.

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 a snapshot of the ED Pipeline's growth and/or investment opportunities. Each Index also includes a Project Profile section, which highlights project specific news during a given quarter.

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