Quincy, IL
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City of Quincy’s 45x30 Economic Vision
The City of Quincy’s 45x30 plan aims to utilize multiple financial incentives and initiatives to increase the city’s population from about 40,000 residents today to 45,000 by the year 2030. Local business and industry leaders estimate there are about 1,000 unfilled jobs in Quincy currently and that there could be as many as 3,200 unfilled jobs in the future, prompting the need to bring more people to Quincy.
There are four aspects to the 45x30 Plan: Talent, Tourism, Retail, Return
TALENT: Comprehensive Talent Development, Attraction, and Retention program to increase population and workforce.
- Development – Adams County Works Teams + Scholarships & Training
- Attraction – Live Quincy + Strategic Marketing + Relocation Incentive
- Retention – Community Connections Investment & Strategic Plan Implementation
TOURISM: Targeted Marketing + Underwriting to grow revenues by using visitor spending while attracting workforce.
- Targeted Marketing – Quincy-specific campaign to increase visitor spending & overnight stays
- Entertainment Underwriting – Live music and special entertainment acts for the community.
RETAIL: Incentives Encouraging In-Fill growth of specific retail needs to increase various tax revenues.
- Retail Incentive Programs – Sales Tax Reimbursement + Forgivable Loans
- Retail & Workforce Marketing – Promoting Quincy at Industry-Specific Events
RETURN: Attract people to fill available jobs to grow our population and economy.
- 3,500 People – Fill available jobs and capture $15,000 in per-year annual spending
- $52,500,000 – 3,500 people = $52.5-million/year into our economy (not including other revenues).
Implementation of City of Quincy’s 45x30 Economic Vision
Since the 45x30 Plan was first proposed in the fall of 2019, the City of Quincy has adopted several initiatives aimed directly at accomplishing the goals of the 45x30 plan:
Strategic Marketing Initiative
A goal of the City of Quincy’s 45x30 Program is to foster workforce development and attract talent to fill current and future job vacancies. The goals of the city’s Strategic Marketing Initiative are to:
- Encourage Quincy natives and those with ties to Quincy who moved away to come home.
- Showcase how Quincy’s quality of life (top-notch schools, low cost of living, reduced commutes, expanding entertainment) makes it ideal to live, work, and raise a family
- Spotlight how Quincy goes against the perception many have that Illinois is a high-tax state that is not friendly to businesses.
Retailing Marketing & Recruitment Initiative
A goal of the City of Quincy’s 45x30 Program is to expand retail opportunities by providing incentives that encourage in-fill growth of specific retail needs, thus increasing various tax revenues. The city’s Retail Marketing & Recruitment Initiative will allow the city to work with NextSite, a national commercial development firm that specializes in identifying and connecting development opportunities to communities, tenant representatives and end-users.
NextSite has connected and supported more than 20-million square feet of commercial development projects in the past five years, resulting in more than $4.1-billion in investment. The investments have included shopping centers, hospitality, entertainment, mall redevelopment, grocery, and mixed use facilities.
A goal of the City of Quincy’s 45x30 Program is to increase tourism and to attract new residents and visitors to the community. The city’s Tourism Marketing Initiative aims to promote Quincy as a travel destination, targeting leisure travel & group travel.
The Quincy Area Convention & Visitors Bureau estimates a visitor to Quincy spends $250/night for each night they stay in this community. Based on that calculation, QACVB Executive Director Holly Cain estimates that $111-million was spent by visitors to Adams County in 2019, adding that tourism spending is new money being generated in the local economy.
A goal of the City of Quincy’s 45x30 Program is to increase tourism and to attract new residents and visitors to the community. The city can aid those efforts by providing financial support for local entertainment events. The potential benefits include more people eating in local restaurants, shopping in local stores, and staying in local hotels, which equates to more jobs, an increase in tax revenue and a reduced burden on local taxpayers.
The Bring Events To Quincy (BET on Q) Grant Program is the mechanism for providing financial support for local events. The city of Quincy will invest a portion of the revenue from the 1% food/beverage tax it collects into the BET on Q program.