Princeton: Unemployment projections for 2009? (La Salle, Lee: hotel, house, unemployment rate)

[TootsieWootsie]

Does anyone have that information? I can find it for other cities, but not Princeton, so I was hoping maybe your media there said something. I found nothing on the net myself, but maybe I wasn't looking at the right things.

[linicx]

Princeton is a quaint, small town near 1-90 & IL 29 in Northern Illinois. Since the US economy is in shambles the prognosticaters are quiet. All bets are off through the second quarter. If you are looking for a job, the best way to get it is to apply in person.

[linicx]

Moderator cut: link removed, linking to competitors sites is not allowed

The word projection didn't work well. Google " job growth" the next time. I don't know how often little towns like Princeton are statistically evaluated. I am quite sure it is not significantly better off, as a whoel, than any other town its size in the state. There may be a small tourist or location advantage but overall, it won't make a lot of difference in the economy if people are not traviling and visitors are not buying.

[linicx]

The newest job data I could find is from 2007 indicates the unemplyment rate in this town of less than 8,000 population is 4.10 percent and jobs increased 0.30 percent. House values increased 10 percent, student to teacher ratio was low, and the weekly grocery bill was less than the national average. It should be. The Illinois grocery tax is 1% on all food items except deli and convnient stores.

[MisterTwisty]

Princeton has seen a stall in its small industrial center (who hasn't?), with the most recent development coming in June, when rumors circulated wildly that LCN Closers (a Princeton plant that produces commercial door closers) would be laying off workers, and possibly closing the plant. Local papers have not been able to get a clear indication from management as to what the future could hold. The plant is in Princeton, and employs about 400 people.

Also, a steel mill owned by Arcelor Mittal, located about 15 miles south of Princeton closed last year, causing about 200 union steel workers to be laid off. Also, I know that Champion (a plant in Princeton that manufactures air compressors) was doing one-day-a-week furloughs this spring. That plant is in Princeton.

Princeton also has a Huge Ace Hardware distribution center which employs several hundred workers. As of June 2009, no word on whether there could be layoffs there.

On the whole, Princeton's location along Interstate 80 gives it better positioning for growth in logistics than many other towns its size in Northern Illinois. The Logistics, Technology, Big Box warehousing areas are where city leaders seem to have their hopes pinned.

Also Notable is the fact that Princeton has a predominantly aging population, with several large scale retirement homes and a large county hospital. Health Care workers would find work in Princeton easily.

Princeton city leaders have spent a TON of money on Technology. They put in a groundbreaking fiber optic project which is an anchor feature of a large Tech Park the city has developing. Unfortunately, only one local industry has moved to the Tech Park. And that was a local business which the city gave incentives to stay in town. In addition, the city owns its own electrical plant, which enabled the city electric department to put into place a groundbreaking city-wide broadband over powerline system.

The city's BPL gives local residents and local businesses unique, cheap access to high speed internet which is similar to WiFi. Not many towns Princeton's size have it. Unfortunately, all the techno capabilities have not led to jobs coming to princeton.

Princeton is unique in that it has two downtown strips; one on the north end of its mainstreet, and one on the south end of main street near the courthouse square. Also, it has a middling strip near I-80, which is anchored by a Wal-Mart Supercenter and a Tractor Supply Co. They have a nice, new AmericInn hotel, and a Industrial Park north of the Interstate which is zoned to accomodate Logistics/big box warehousing.

Time will tell if Princeton workers see a growth in jobs, or if new jobs would serve to bring in commuters from nearby towns. At any rate, most of the town's industry and its commerce seems to be directed towards the north end of town, away from its old business sector. In small towns, this is nothing new.

[gardener34]

I hope they do well, it is a very nice smaller town.

[ndfmnlf]

I like Princeton. I've been to Prime Quarter a few times - love their steaks!

[MisterTwisty]

According to a story Last week in Princeton's local paper, Princeton's LCN Closers (a division of Ingersoll Rand that manufactures door closers) plans to lay off 44 workers. That could be at least 15 percent of its work force.

So there's a indication of unemployment in Princeton.

No word on what the future could hold for the plant, or whether workers laid off will be re-hired. Some plant workers had indicated earlier that LCN's Princeton plant could be shipping out part of its operations, but management characterized those statements as "rumors."

[linicx]

Princeton is a unique little town with some wonderful people who live there. It will survive because of location and tax advantages.

[bunsterj]

Princeton, Illinois does not have a large community hospital. It is a small one at best, which is under some sort of Medicare agreement to remain small and reserve its no longer used beds for a health crisis...like the flu, bad weather restricting discharges, etc. Generally they are to have 25 or less inpatients, but are licensed to go up to 89 under certain conditions. They have not recently had many full time positions posted. Today the only full time nurse position is for surgery, with experience preferred.The general Illinois Valley area has a rather high unemployment rate. Bureau County itself is OK at 8.8%, but one must consider the surrounding communities. LaSalle County is at 12.4%, Putnam County is at 14.1%. On April 30, 2009 the Heartfield Alliances named La Salle, Bureau, Putnam, and Lee Counties to its "Poverty Watch List."

That being said, Princeton is a lovely town. I wouldn't mone there until I had a decent job lined up.