the October 2022 | Volume 35 | No. 10
VOTE TO ADOPT FLAT TAX
MARKETING TIPS FOR SMALL BIZ
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of the rockford business community
Disruptive Economics
FALL ON THE FARM AT LOCKWOOD PARK
Dealing with an ever-changing supply chain
By Andrew Wright, Rockford Chamber of Commerce While the big talk about the economy right now is inflation, anyone who remembers the classic film “Ferris Bueller’s Day Off ” may recall Ben Stein talking about the Laffer Curve. While Stein bored his class to sleep with his talk of “voodoo economics,” the idea that supply and demand affect inflation is a concept we’re all learning about in real time once again. Between the COVID-19 pandemic, a spike in fuel costs, a global economy and a changing workforce, the demand for consumer goods is outstripping the ability of companies to meet that demand.
According to FTI Consulting (fti consulting.com), The Federal Reserve Bank of New York reported all-time highs in the Global Supply Chain Pressure Index, with spikes in early 2020 and again through late 2021. This is representative of all-time high global shipping costs, a global spike in the price of food and construction materials. And think about the built-up demand for production as economies return to pre-COVID activities. After months of staying put in homes, consumers have spotted every issue they have with their kitchen; they’ve repurposed spare rooms into offices; and they’ve been keeping building contractors busy. How are those contractors keeping up with demand?
Tied to housing market According to Jon Minnaert, president, Aetna Building Solutions in Rockford, Illinois, about 20% of the economy is tied to the demand in the housing market. At one point, materials for kitchen cabinets were projected to take up to 20 weeks for delivery. Delays were related to demands on domestic trucking and rail, unreliable overseas suppliers and other COVID-related factors. “While we’ve been meeting the needs of our regular customers, we’ve had to say no more in the last 24 months than any time we can remember. And we (continued on page 6)
GUEST COLUMNIST
Voting—It’s the American way
What impact does low voter turnout have on our November 8 is the next opportunity political for citizens to weigh in on the future of landscape? By Claire Flynn McIntyre, co-president, League of Women Voters of Greater Rockford and member of Go Vote 815
democracy. Voters will have the chance to make their preference known as to which candidates running for Congress, Illinois Statehouse and local offices will guide local communities and the nation. Surprisingly, few citizens take the time to participate in this most fundamental of American exercises. Elections, particularly the mid-term and spring consolidated elections, are often decided by an extremely low number of votes. THE VOICE IS PUBLISHED BY
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The Voice is online at rockfordchamber.com
According to the Brennan CLAIRE FLYNN Center for MCINTYRE Justice at New York University School of Law, a nonprofit law and public policy institute, low turnout isn’t just a problem of fewer people exercising their right to participate Should the Greater Rockford in democracy. Low turnout can skew the Area be concerned about electorate, making it older, richer and, low voter turnout? with the exception of recent presidential In a word, yes. In the June primary, elections, whiter than America as a whole. only 17.3% of Rockford’s registered Are you willing to let voters participated, while a mere 22.5% others make important of Winnebago County voters turned out. decisions for you? Boone County had slightly more with To address low turnout, the League 26% of its voters going to the polls. Some of Women Voters of Greater Rockford, Rockford precincts had less than 10% voter in cooperation with more than 20 local, participation. While those areas are of nonpartisan organizations, has mounted a particular concern, a turnout of 17% shows (continued on page 6) the problem is area wide.
Rockford Park District’s scenic Lockwood Park will host “Fall on the Farm,” October 8, 15, 22, and 29, from 10 a.m. to 4 p.m., rain or shine, at 5201 Safford Rd, Rockford, IL. Visitors can pick their own pumpkins, visit the petting zoo, ride a pony, paint a pumpkin, play games, explore a corn maze, enjoy concessions and many other activities. Kids will love interacting with the horses and animals on the working farm. Admission to enter the park is free, but there may be a charge for certain activities.
MARK YOUR CALENDAR! BUILDING A CULTURE OF BELONGING IN THE WORKPLACE TUESDAY, OCTOBER 18 8:45 A.M. - NOON UW HEALTH SPORTS FACTORY For more information, see page 23
2023 GOLDEN APPLE TEACHER AWARD NOMINATIONS Nominations are now open for the 2023 Golden Apple Teacher Award. Anyone can nominate a teacher who is currently teaching pre-K through fifth grade at a public or private school in Winnebago or Boone County. Deadline is Oct. 13, 2022. Nomination forms at goldenappleofrockford.com.
SUCCESSFUL ANNUAL DINNER On September 15, the Rockford Chamber welcomed 430 guests to Tebala Event Center for an evening of wonder, presented by OSF Healthcare. Harris, III delighted guests with his illusions and inspired them to reignite wonder in their work. Guests enjoyed a fabulous meal catered by Greenfire Restaurant. Our Citizen of the Year, Jennifer Furst, FurstStaffing, was honored with a standing ovation. We thanked our outgoing board chair, Dan Ross, Community Foundation of Northern Illinois, and welcomed our new chair, Jean Crosby, Berkshire Hathaway Home Services, Crosby Starck Real Estate. Pictures of the event taken by Mindy Joy Photography are on page 18. Thanks to all who attended.