Have you heard the news?! Quincy was ranked number eight on Forbes magazine's list of the 15 "Best Small Cities to Raise a Family." The recognition doesn't come as a surprise to those of us who are raising our own families in our beloved city. As Economic Developers we naturally looked at how this ranking translates into business retention and attraction. Here's a look behind the numbers and at why Quincy is both an award-winning place for family life and an exceptional place for business.
BEHIND THE NUMBERS
Forbes compared 126 cities with a population under 100,000 and ranked them on five quality-of-life measures. Twelve of the 15 cities chosen are in the Midwest but Quincy was the only city chosen in Illinois.
Short Commute Times
Forbes ranked Quincy seventh in the nation in commute times. 2000 Census data shows that the average commute time is just over 13 minutes with 83% of workers commuting less than 20 minutes.
Family: More time working parents get to spend at home with their families.
Business: Less time on the road between facilities and a shorter distance to the nearest four-lane highway when shipping products.
Percentage of Adults with a High School Degree
ESRI forecasted nearly 40% of the Quincy population over 25 attaining a high school education in 2009 with over 20% attending some college and nearly 30% receiving Associate, Bachelor's or Graduate degrees.
Family: Educational attainment is a reliable measure of the quality of a community's school system.
Business: A skilled workforce is essential for growing a business. In addition to a great public and private school system, Quincy boasts a Community College, 4-Year University and technical schools.
Median Household Income
At the 2000 Census, the median household income for Quincy was $31,238. ESRI forecasted that it reached $38,974 in 2009.
Family: When combined with our low cost of living (ranked fourth out of all small cities), this median income makes supporting a family easy.
Business: When the cost of living is low, so is the cost of doing business. Average salaries are much lower here than most in major metros, without sacrificing workers' quality of life.
Rate of Home Ownership
Over half the housing units in Quincy are owner occupied.
Family: 61% of residents own their home. That's a good thing.
Business: The same infrastructure and institutions which make it possible for individuals to own a home are also available to entrepreneurs looking to start a small business.
Housing Affordability
The median home value in Quincy was $68,768 in 2000 and was expected to rise with the median household income.
Family: Our rural, Midwestern location keeps housing prices affordable, even for families just starting out.
Business: The same factors that keep housing affordable keep the costs for building and leasing commercial and industrial space affordable.
A combination of many factors plays into the decision to expand or relocate a business. No community can rank first in every category and Quincy is no exception. But our community offers a well-balanced and diverse economy that, in the end, makes Quincy and Adams County a great place not only to raise a family, but also to grow a business.
