Kankakee region ranks in Top 10 for projected millennial spike
The Dallas-based real estate and location advisory firm Site Selection Group (SSG) recently rated the Kankakee Metropolitan Statistical Area (MSA) among the nation’s Top 10 metro areas positioned for growth in the millennial age group.
Predicting robust growth over the next five years, SSG forecasted that the region — which “shares boundaries” with Kankakee County, according to the Economic Alliance of Kankakee County group — will see a 6.1 percent spike in the post-college age population under 35 between 2016 and 2021.
For local business, that bodes well in terms of a strong workforce pool. As baby boomers enter their retirement years, skilled personnel replacement needs are anticipated.
“This analysis is welcome news to our office and community,” Tim Nugent, president/CEO for the Economic Alliance of Kankakee County, said. “Through our many conversations with our existing primary employers as well as industrial prospects, we are acutely aware of the urgency to develop a strong talent pipeline.”
Nugent added that the organization’s goal is to “position our community for sustainable growth.” The Kankakee MSA enters into the equation with strong growth of its own, having witnessed a 15 percent jump in gross domestic product over the past half-decade.
Additionally, the Milken Institute — an independent economic think tank based in Santa Monica, California — ranked the defined Kankakee region as No. 1 in the small metro category for its best-performing cities assessment in three out of the four past years.
The Economic Alliance of Kankakee County is a public-private partnership striving to create jobs and expand the local economy.
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