Rockford is the trade, processing, and shipping hub of an extensive agricultural region as well as an important manufacturing center. Agricultural products include corn, wheat, soybeans, cattle, and hogs. Transportation equipment, machinery, electronics, furniture, and food products are produced.
The Rockford economy has suffered since the decline of the manufacturing industry in the late 1980s. Once a national leader in manufacturing and industry, the focus of the local economy has been forced to change. Many of the "family-owned" companies that once inhabited Rockford were bought out by larger companies, the larger companies then relocated the products being made to lower wage parts of the United States or sent them overseas altogether. The city's new focus relies on high-technology businesses, tourism generated by outstanding museums and a great park system, and the westward growth of the Chicago metropolitan area.
When the Northwest Tollway was constructed in the 1950s, many commercial businesses relocated from the city's center to the new thoroughfare six miles east. As a result, the downtown area is not the bustling center of commerce expected from a city of its size. The commercial center of Rockford is currently on East State Street, and more recently, Perryville Road, which boast closer proximity to the highway.
As of 2006, new commercial and residential development is taking place in the downtown area. The city is also considering plans for a Convention Center, Casino, and Riverwalk. The Main Street Corridor (Illinois Route 2) is expected to redevelop. Construction from the downtown area, south to US Highway 20 is expected to begin in 2007. Plans for 2007 also mark a major renovation of the MetroCentre in downtown Rockford.
|