Midwest Economy
Information about the Seventh Federal Reserve District states, Illinois, Indiana, Iowa, Michigan and Wisconsin; economic indicators; articles on Midwest issues; and news about conferences and projects.
Bill Testa on the Midwest Economy
Research Vice President Bill Testa and special guest commentators offer unique perspectives on the Midwest economy through this blog. In the latest posting, Bill shares his thoughts about how the Seventh District nonmetro areas are bouncing back.
Beyond Parking Meters: The Future of Public-Private Partnerships in Illinois
On March 14, 2012, the Chicago Fed will be co-hosting an event with the Civic Federation. This conference will consider public-private partnerships — where they have been and where they may be heading. Seating is limited, so please register today!Michigan Retailers: Holiday Sales Better
"It was a good holiday season, and the second consecutive year of positive holiday results," said MRA President and CEO James P. Hallan. On average, the state’s retailers projected a 6 percent gain over the previous year. While the final average was a 4 percent gain, 53 percent of retailers improved sales by more than 5 percent, and 13 percent by 0.1 to 5 percent.
Industrial Cities Initiative Blog
Community Devolopment and Policy Studies has launched the Industrial Cities Initiative. This project will examine 10 cities in the Seventh District that had populations of 50,000 and 25% or more of their employment in manufacturing in the 1960s. Their new blog will tell us what their journey has been and where those cities stand today. Take a look at their most recent posting, then sign up for email alerts.
Midwest Manufacturing Output Increased in December
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.7% in December, to a seasonally adjusted level of 87.4 (2007 = 100). Revised data show the index was unchanged in November.Rising Farmland Values: Causes and Cautions
Agricultural land values recorded a year-over-year gain of 25% in the third quarter of 2011 for the Seventh Federal Reserve District. Some have expressed concerns about farmland buyers facing more risks that may result from this increase in the value of their acreage. In this special edition of the Chicago Fed Letter, David Oppedahl summarizes the discussion that took place at the Annual Agriculture Conference that examined this and other issues being addressed by the agricultural industry.Economic Outlook Symposium: Summary of 2011 Results and 2012 Forecasts
According to participants in the Chicago Fed’s annual Economic Outlook Symposium, the U.S. economy is forecasted to grow at a pace below its historical average in 2012, following a year with an even slower rate of growth; inflation is expected to ease in 2012; and the unemployment rate is predicted to edge down this year. In this edition of the Chicago Fed Letter, William Strauss summarizes the discussions and forecasts that were presented at the symposium.Midwest Economy Index Shows Midwest Growth Picked Up in December
The Midwest Economy Index (MEI) increased to +0.09 in December from -0.13 in November, rising above its historical trend for the first time in five months.Data Reports for Illinois, Indiana, Iowa, Michigan and Wisconsin
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Charting the Seventh District Economy
Interactive tool that allows custom charts on key economic indicators in the district states and across the nation.Midwest Manufacturing by Concentration by Industry
View manufacturing industry results in html format or download the excel file.Midwest Metropolitan Services by Concentration by Industry
View services industry results in html format or download the excel file.Quick Definitions
Concentration Index — also called location quotient, this index is created by comparing the ratio of any economic indicator from one region to another. In the charts, the noted industry's employment share of a region is compared to the U.S. equivalent. For example, Illinois' food manufacturing concentration index is equal to the share of Illinois' food manufacturing employment (out of total employment) over the share of food manufacturing employment in the U.S. If the concentration of food manufacturing facilities in Illinois is similar or equal to that of the U.S, then the resulting concentration index would equal one. If there were a larger share of food manufacturing facilities in Illinois than in the U.S, then the concentration index would be above one and vice versa. (For further detail, please refer to Bill Testa's blog.)Chart Construction
The charts were constructed to split regional economies into four groups. For the x-axis, the chart is centered on 1.0, to divide the concentration indices between industries of higher concentration relative to the U.S. and those of lower concentration. The y-axis is centered on the region's median industry as measured by employment size, which essentially splits the region's industries in half such that those industries with a higher number of employees would appear above the x-axis and a lower number would appear below it. The groupings of the manufacturing industries are defined according to the North American Industry Classification System (NAICS). The NAICS industries that are most prevalent in a region (both in concentration and size) are labeled. If a region has an especially notable industrial specialization ( beyond the NAICS 3-digit level), it is indicated in parentheses.The Federal Reserve Bank of Chicago periodically launches special projects examining certain aspects of the Midwest economy.
Events dating back to 2007 are available below. Earlier events are in the process of being added to the site and are available immediately by sending a request to dct@chi.frb.org. Please include date and title.
The Federal Reserve Bank of Chicago held its annual agriculture conference to explore the factors contributing to large increases in agricultural land values and cash rental rates in the Midwest.
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The Federal Reserve Bank of Chicago will provide a forum for meaningful interactions between key executives and scientists, with a view to creating new products and novel, effective solutions to improve food safety.
More...
The Federal Reserve Bank of Chicago will hold a conference to examine issues that will shape the future of agriculture in the Midwest. The theme of this year's conference is The Intersection of Midwest Agriculture and Rural Developmen. A particular focus of the conference will be the entrepreneurial nature of agriculture and policies that can foster agricultural entrepreneurs. The conference will gather experts from academia, industry and policy institutions to discuss aspects of possibilities for agriculture and the Midwest.
More...
December 1, 2009
The Federal Reserve Bank of Chicago will hold a conference to examine issues that will shape the future of agriculture in the Midwest. This conference will gather experts from academia, industry and policy institutions to discuss aspects of possibilities for agriculture and the Midwest. The goals of the conference include exploring factors that will impact the future directions of Midwest agriculture, particularly its composition and structure; examining the implications of the changing agricultural landscape for rural and urban communities, as well as industry; and discussing the policy implications and the role that policies play in guiding agriculture toward the future.
More...
The Federal Reserve Bank of Chicago held a conference on the economic impacts of volatile agricultural costs and food price inflation. This conference brought together experts from industry, academia and policy institutions to discuss agricultural and food policy, including their intersection with the macroeconomy through food price inflation.
More...
The Federal Reserve Bank of Chicago held a conference on the role of research and development in agriculture, biotechnology and the food industry. It focused on policies that promote industry growth and rural development. This conference brought together those interested in research and development (R&D) issues facing agriculture and related sectors of industry, particularly biofuels and food manufacturing. The goals of the conference were to examine R&D from a midwestern perspective, explore the implications of R&D for industry growth and discuss the influence of government R&D policies on industries and rural development.
More...
No associated conference(s)
No associated conference(s)
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No associated conference(s)
No associated conference(s)
The Federal Reserve Bank of Chicago hosted a symposium to explore the increasing value of the Great Lakes region's fresh water and associated habitat to its residents. As the nation's population and income have grown, the recreational use of lakes, wetlands and other open spaces has increased. How much will the recreational use of the Great Lakes grow and in what ways?
More...
Market-based emission systems can be important in controlling the costs and impact of mandated reductions of greenhouse gas (GHG) emissions. How will the Midwest adapt to the regulation of GHGs? Tthe Detroit Branch of the Chicago Fed held a conference discussing these and other matters important to policymakers and researchers alike.
More...
No associated conference(s)
The Federal Reserve Bank of Chicago hosted its eighteenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
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The Federal Reserve Bank of Chicago hosted its seventeenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
More...
The Federal Reserve Bank of Chicago hosted its sixteenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
More...
The Federal Reserve Bank of Chicago hosted its fifteenth annual Automotive Outlook Symposium. The topics included: a review of the Detroit Three–UAW labor contracts; the vehicle sales outlook from the OEM (original equipment manufacturers) perspective; medium- and heavy-duty truck industry outlook; dealers' and suppliers' perspectives on the sales outlook; and the consensus outlook of symposium participants.
More...
The Federal Reserve Bank of Chicago and Chicago Metropolis 2020 co-sponsored a one-day workshop on transportation networks. The purpose of this workshop was to understand how pricing schemes, public–private partnerships and emerging payment mechanisms can be used to address congestion and efficiency in urban commuter networks.
More...
The Federal Reserve Bank of Chicago hosted a conference on the U.S. automotive industry, which is in the midst of dramatic changes. There has been a movement away from production by the Big Three automakers to production by foreign nameplate companies with plants in the U.S. This conference focused on automotive manufacturing in the U.S. and around the world to examine what is driving these transitions.
More...
The Federal Reserve Bank of Chicago hosted its fourteenth annual Automotive Outlook Symposium. The topics included: the view from Wall Street, the vehicle sales outlook from the OEM (original equipment manufacturers) perspective, medium- and heavy-duty truck industry outlook, dealers' and suppliers' perspective on the sales outlook and the consensus outlook of symposium participants.
More...
This conference will gather experts and policymakers from academia, foundations, nonprofits and government to discuss the knowledge foundations of various work force adjustment assistance policies along with planned and ongoing work force and human capital initiatives. More...
The Regional Programs team hosted a conference to discuss the outlook for the Midwest. More...
This conference will gather experts and policymakers from academia, foundations, nonprofits and government to discuss the knowledge foundations of various work force adjustment assistance policies along with planned and ongoing work force and human capital initiatives. More...
This program will look at the current state of budgets and long-term challenges.
More...
Talk of budget cuts and assessing how Illinois's revenues are spent have been a hot topic in the news media. Join us at our conference on Charting Illinois's Fiscal Future:Dealing with Structural Deficits and the Implications of High Levels of Future Debt to hear the ideas of experts on this topic. More...
Conference co-sponsored by the Chicago Fed, National Association of State Budget Officers and National Tax Association to consider funding challenges faced by the state and local sector.
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The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber are co-sponsoring a forum at the Federal Reserve's facilities in Detroit. This year's program will analyze the role of employers in creating value in the health care industry.
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The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber co-sponsored a forum at the Federal Reserve's facilities in Detroit.
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The Federal Reserve Bank of Chicago and the Civic Federation host a forum on retiree health care for state and local governments.
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The Federal Reserve Bank of Chicago, Ernst & Young and the Office of Tax Policy Research at the Ross School of Business at the University of Michigan co-hosted a program examining developments in state business taxation. The program examined the complete range of business taxes including income, sales, property as well as value added and gross receipts taxation. The program also discussed recent business tax reforms in Ohio, Texas and Michigan. Presenters included business, government and academic tax experts.
More...
The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber co-sponsored a forum at the Federal Reserve's facilities in Detroit.
More...
The Federal Reserve Bank of Chicago and the National Tax Association of the University of Illinois Institute of Government and Public Affairs will co-sponsor a half-day conference on state business taxation. The program will examine both recent changes and proposed changes to business taxation by the states, particularly the gross receipts tax, expanded service taxation and other business-oriented fees.
More...
The Federal Reserve Bank of Chicago co-sponsored a forum with the Civic Federation to consider the impact of Medicaid on state budgets. The forum, which was held at the Federal Reserve, brought together top researchers and government leaders to discuss funding and policy issues as well as best practices. Former U.S. Secretary of Health and Human Services Tommy Thompson gave a keynote address.
More...
No associated conference(s)
Regional Agriculture
Rising Farmland Values: Causes and Cautions
November 15, 2011The Federal Reserve Bank of Chicago held its annual agriculture conference to explore the factors contributing to large increases in agricultural land values and cash rental rates in the Midwest.
More...
Food Safety: Policy Changes, Science-Based Opportunities
July 19, 2011The Federal Reserve Bank of Chicago will provide a forum for meaningful interactions between key executives and scientists, with a view to creating new products and novel, effective solutions to improve food safety.
More...
Perspectives on the Future of Agriculture in the Midwest
November 9, 2010The Federal Reserve Bank of Chicago will hold a conference to examine issues that will shape the future of agriculture in the Midwest. The theme of this year's conference is The Intersection of Midwest Agriculture and Rural Developmen. A particular focus of the conference will be the entrepreneurial nature of agriculture and policies that can foster agricultural entrepreneurs. The conference will gather experts from academia, industry and policy institutions to discuss aspects of possibilities for agriculture and the Midwest.
More...
December 1, 2009
The Federal Reserve Bank of Chicago will hold a conference to examine issues that will shape the future of agriculture in the Midwest. This conference will gather experts from academia, industry and policy institutions to discuss aspects of possibilities for agriculture and the Midwest. The goals of the conference include exploring factors that will impact the future directions of Midwest agriculture, particularly its composition and structure; examining the implications of the changing agricultural landscape for rural and urban communities, as well as industry; and discussing the policy implications and the role that policies play in guiding agriculture toward the future.
More...
Agricultural Markets and Food Price Inflation
October 2, 2008The Federal Reserve Bank of Chicago held a conference on the economic impacts of volatile agricultural costs and food price inflation. This conference brought together experts from industry, academia and policy institutions to discuss agricultural and food policy, including their intersection with the macroeconomy through food price inflation.
More...
The Role of R&D in Agriculture and Related Industries: Today and Tomorrow
September 24, 2007The Federal Reserve Bank of Chicago held a conference on the role of research and development in agriculture, biotechnology and the food industry. It focused on policies that promote industry growth and rural development. This conference brought together those interested in research and development (R&D) issues facing agriculture and related sectors of industry, particularly biofuels and food manufacturing. The goals of the conference were to examine R&D from a midwestern perspective, explore the implications of R&D for industry growth and discuss the influence of government R&D policies on industries and rural development.
More...
Regional Banking
No associated conference(s)
Regional Community Development
No associated conference(s)
Regional Economic Cycles
No associated conference(s)
Regional Education
No associated conference(s)
Regional Energy
No associated conference(s)
Regional Environmental
Fresh Water and the Great Lakes Economic Future
November 10, 2008The Federal Reserve Bank of Chicago hosted a symposium to explore the increasing value of the Great Lakes region's fresh water and associated habitat to its residents. As the nation's population and income have grown, the recreational use of lakes, wetlands and other open spaces has increased. How much will the recreational use of the Great Lakes grow and in what ways?
More...
Cost-Effective Carbon Restrictions
October 15, 2007Market-based emission systems can be important in controlling the costs and impact of mandated reductions of greenhouse gas (GHG) emissions. How will the Midwest adapt to the regulation of GHGs? Tthe Detroit Branch of the Chicago Fed held a conference discussing these and other matters important to policymakers and researchers alike.
More...
Regional Foreign Trade
No associated conference(s)
Regional Industry Analysis
Eighteenth Annual Automotive Outlook Symposium
June 2, 2011 to June 3, 2011The Federal Reserve Bank of Chicago hosted its eighteenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
More...
Seventeenth Annual Automotive Outlook Symposium
June 3, 2010 to June 4, 2010The Federal Reserve Bank of Chicago hosted its seventeenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
More...
After the Perfect Storm: Competitive Forces Shaping the Auto Industry
May 10-11, 2010
The U.S. auto industry has recently experienced its worst downturn in memory as all major markets around the world slowed down at the onset of the global recession. Two of the Detroit carmakers were near death until the U.S. government rescued them. As conditions return to normalcy, this conference focuses on the question of which factors will shape the industry's competitiveness going forward.
Sixteenth Annual Automotive Outlook Symposium
June 4, 2009 to June 5, 2009The Federal Reserve Bank of Chicago hosted its sixteenth annual Automotive Outlook Symposium. The topics included the consensus outlook of symposium participants.
More...
Fifteenth Annual Automotive Outlook Symposium
June 5, 2008 to June 6, 2008The Federal Reserve Bank of Chicago hosted its fifteenth annual Automotive Outlook Symposium. The topics included: a review of the Detroit Three–UAW labor contracts; the vehicle sales outlook from the OEM (original equipment manufacturers) perspective; medium- and heavy-duty truck industry outlook; dealers' and suppliers' perspectives on the sales outlook; and the consensus outlook of symposium participants.
More...
Using Payment Innovations to Improve Transportation Networks
June 12, 2007The Federal Reserve Bank of Chicago and Chicago Metropolis 2020 co-sponsored a one-day workshop on transportation networks. The purpose of this workshop was to understand how pricing schemes, public–private partnerships and emerging payment mechanisms can be used to address congestion and efficiency in urban commuter networks.
More...
Transitions: The State of the Automotive Industry
June 12, 2007The Federal Reserve Bank of Chicago hosted a conference on the U.S. automotive industry, which is in the midst of dramatic changes. There has been a movement away from production by the Big Three automakers to production by foreign nameplate companies with plants in the U.S. This conference focused on automotive manufacturing in the U.S. and around the world to examine what is driving these transitions.
More...
Fourteenth Annual Automotive Outlook Symposium
May 31, 2007, to June 1, 2007The Federal Reserve Bank of Chicago hosted its fourteenth annual Automotive Outlook Symposium. The topics included: the view from Wall Street, the vehicle sales outlook from the OEM (original equipment manufacturers) perspective, medium- and heavy-duty truck industry outlook, dealers' and suppliers' perspective on the sales outlook and the consensus outlook of symposium participants.
More...
Regional Labor
Automotive Communities and Work Force Adjustment
October 8-9, 2009This conference will gather experts and policymakers from academia, foundations, nonprofits and government to discuss the knowledge foundations of various work force adjustment assistance policies along with planned and ongoing work force and human capital initiatives. More...
Regional Midwest Economy
Midwest Economy: Outlook for 2012 and Beyond
December 1, 2011The Regional Programs team hosted a conference to discuss the outlook for the Midwest. More...
Automotive Communities and Work Force Adjustment
October 8-9, 2009This conference will gather experts and policymakers from academia, foundations, nonprofits and government to discuss the knowledge foundations of various work force adjustment assistance policies along with planned and ongoing work force and human capital initiatives. More...
Regional State and Local Fiscal
State Budgets under Stress: Paths to Sustainability
June 24, 2011This program will look at the current state of budgets and long-term challenges.
More...
Charting Illinois's Fiscal Future
June 17–18, 2010Talk of budget cuts and assessing how Illinois's revenues are spent have been a hot topic in the news media. Join us at our conference on Charting Illinois's Fiscal Future:Dealing with Structural Deficits and the Implications of High Levels of Future Debt to hear the ideas of experts on this topic. More...
Assessing the State and Local Sector—Where Will the Money Come from?
May 12, 2009Conference co-sponsored by the Chicago Fed, National Association of State Budget Officers and National Tax Association to consider funding challenges faced by the state and local sector.
More...
2009 Health Care Leader Forum
March 30-March 31, 2000The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber are co-sponsoring a forum at the Federal Reserve's facilities in Detroit. This year's program will analyze the role of employers in creating value in the health care industry.
More...
2008 Health Care Leader Forum: The Value Chain Approach—Maximizing Value
April 14–April 15, 2008The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber co-sponsored a forum at the Federal Reserve's facilities in Detroit.
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Facing the Challenge of Retiree Health Care: Liabilities and Responses of State and Local Governments
March 12, 2008The Federal Reserve Bank of Chicago and the Civic Federation host a forum on retiree health care for state and local governments.
More...
Future State Business Tax Reforms: Perspectives from the Business, Government and Academic Communities
September 17, 2007The Federal Reserve Bank of Chicago, Ernst & Young and the Office of Tax Policy Research at the Ross School of Business at the University of Michigan co-hosted a program examining developments in state business taxation. The program examined the complete range of business taxes including income, sales, property as well as value added and gross receipts taxation. The program also discussed recent business tax reforms in Ohio, Texas and Michigan. Presenters included business, government and academic tax experts.
More...
2007 Health Care Leaders Forum: The Value Chain Case for Health Care Reform
April 24–April 25, 2007The Federal Reserve Bank of Chicago's Detroit Branch and the Detroit Regional Chamber co-sponsored a forum at the Federal Reserve's facilities in Detroit.
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New Developments in State Business Taxation
April 4, 2007The Federal Reserve Bank of Chicago and the National Tax Association of the University of Illinois Institute of Government and Public Affairs will co-sponsor a half-day conference on state business taxation. The program will examine both recent changes and proposed changes to business taxation by the states, particularly the gross receipts tax, expanded service taxation and other business-oriented fees.
More...
A Forum on Medicaid and State Budgets
March 15, 2007The Federal Reserve Bank of Chicago co-sponsored a forum with the Civic Federation to consider the impact of Medicaid on state budgets. The forum, which was held at the Federal Reserve, brought together top researchers and government leaders to discuss funding and policy issues as well as best practices. Former U.S. Secretary of Health and Human Services Tommy Thompson gave a keynote address.
More...
Regional Urban
No associated conference(s)
