Top 10 Quad Cities Business News Stories of 2021 – A Year in Review

The year 2021 saw the Quad Cities region bustling with business activity despite the challenges posed by the pandemic. The region experienced several significant business news stories that had a significant impact on the economic landscape. Here are the top 10 Quad Cities business news stories of 2021.

1. John Deere Announces Plans to Build the World’s First Carbon-Neutral Tractor Factory

Agricultural and construction equipment manufacturer, John Deere, announced its plans to construct the world’s first carbon-neutral tractor factory in the Quad Cities region. The plant aims to achieve net-zero carbon emissions by 2025 and use only renewable sources of energy, including wind and solar power.

2. Tyson Foods Invests $25 Million in a New Meat Processing Facility in Davenport

In March 2021, Tyson Foods announced that it would invest $25 million in a new meat processing facility in Davenport, IA. The new facility is expected to create around 245 new jobs and add significant economic activity to the region.

3. Downtown Davenport Receives a Boost with the Opening of the Hotel Blackhawk

The Hotel Blackhawk in downtown Davenport underwent a $46 million renovation and opened its doors in May 2021, renewing interest in the area. This was a much-needed shot in the arm for downtown Davenport, which had been struggling due to the pandemic.

4. Regional Banks Merge to Form the Largest Bank in the Quad Cities

Two regional banks, Itasca-based First Midwest Bank and Quad Cities-based Northwest Bank & Trust Co., merged in 2021, forming the largest bank in the Quad Cities region. The new bank, First Midwest Bank, will offer a range of financial services to both individuals and businesses.

5. Davenport-Based Lee Enterprises Acquires 14 Newspapers

In January 2021, Lee Enterprises, the Davenport-based publisher of The Dispatch and The Rock Island Argus, announced its acquisition of 14 daily newspapers from the Berkshire Hathaway media company. The acquisition cements Lee Enterprises’ position as a major player in the regional media landscape.

6. Moline-Based John Deere Shows Strong Financial Performance Despite the Pandemic

Despite the pandemic, John Deere, the agricultural and construction equipment manufacturer based in Moline, had a strong financial performance in 2021. The company reported a net income of $5.7 billion for the year, a testament to its resilience and adaptability in the face of challenges.

7. Quad Cities International Airport Launches New Routes and Renews Existing Ones

The Quad City International Airport launched several new routes and renewed existing ones in 2021, further strengthening its position as a regional hub. The new routes to Houston and Nashville proved particularly popular with travelers.

8. Co-Located Data Center Developed in Bettendorf

In December 2021, a new data center opened in Bettendorf, co-locating data and storage systems. This new approach for Quad City business is expected to reduce costs while optimizing data processing capabilities.

9. Davenport’s AgTech Startup Receives Funding

An agricultural technology (AgTech) startup in Davenport received a funding infusion of approximately $2.2 million in July 2021. The startup aims to bring cutting-edge technology to the agricultural sector, making farming more precise and efficient.

10. Flexsteel Industries Closes Dubuque Facility, Shifts Production to Quad Cities

In January 2021, Flexsteel Industries, the Iowa-based furniture manufacturer, closed its Dubuque facility and shifted production to its Quad Cities facilities. The move is expected to increase production capacity and further strengthen the region’s furniture industry.

Conclusion

The Quad Cities region experienced many significant business news stories in 2021, ranging from multinational corporations to regional startups. These stories demonstrate the region’s resilience and entrepreneurial spirit. As we move into 2022, the Quad Cities region looks poised for continued growth and success.

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By knbbs-sharer

Hi, I'm Happy Sharer and I love sharing interesting and useful knowledge with others. I have a passion for learning and enjoy explaining complex concepts in a simple way.

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