Forward Janesville - TheReport - Fourth Quarter 2020

As the calendar turns to December, we start making plans for a new year. I am going to embrace the idea that 2021 will be a year of economic recovery and steady progress in the fight against COVID-19. Let’s begin with a look back on the last year to establish a reference point for what might be possible in 2021. What a strange year it has been. The Coronavirus has affected the local business community, Forward Janesville’s members, and our organization. Looking at the numbers, the local economy has held up remarkably well. Retail sales have been particularly strong, setting a new record through the first three quarters of 2020. In fact, the third quarter represented the highest quarter of sales ever. The residential real estate market is very hot, with homes selling briskly and average sales prices topping out higher than any quarter in history. Over 200 new apartment units have come onto the market in 2020, and 100 more are under construction. Unemployment jumped to 15.8 percent in April, and like many people, I worried the number of people out of work would remain high until the pandemic subsided. However, by September, the unemployment rate had fallen just as fast as it increased. The September rate came in at 5.2 percent. As of this writing, there are 466 job openings listed on the JobsInRockCounty.com website. The pain of the pandemic has really been severe in the hospitality, personal services, and transportation sectors. Restaurants and bars are struggling to survive until a vaccine is widely available. My holiday wish is that you will consider giving friends and family members gift certificates from local bars, restaurants, and personal services businesses. They need our support. Like most non-profits, the pandemic has impacted Forward Janesville. We have had to cut costs, cancel events, and accept that some members cannot continue to support us as they have in the past. Our membership numbers are off approximately 8 percent. We have done our level best to provide valuable services and information to help you manage your business successfully through this challenging operating environment. Thankfully, some members have had a very prosperous year and have increased their support of Forward Janesville. Finally, we are very fortunate to have talented; thoughtful business leaders serve on our Executive Committee and Board of Directors. They have found numerous ways to help guide us through the economic turbulence this year. When 2020 started, I thought I would step aside in June so a new president could lead Forward Janesville. COVID-19 changed those plans. It appears at this juncture that the leadership transition will happen in early 2021. I would like to extend one final thank you to the Forward Janesville Board of Directors for giving me the opportunity to serve and a special thanks to you, our members, for supporting me for the past 20 years. I have sat in this seat through the 911 attacks, the Great Recession, and now, a pandemic. Despite those historically significant hurdles, we always found a way to come back and make significant improvements to our community. After more than a decade of lobbying, the $1.2 Billion interstate highway expansion project is nearly finished. We have essentially rebuilt our public school infrastructure over the past 20 years. When the recession knocked out our largest employer and 30 other companies in 2008-10, we methodically executed a plan to diversify the economy and create new opportunities for our citizens. And most recently, we worked in partnership with the City to complete the first phase of a remarkable reimagining of the heart of the City. I am proud of this community. I am proud of this organization. I will profoundly miss the slow current of community development that has been the center of my life for two decades. 4 • W W W . F O R W A R D J A N E S V I L L E . C O M John Beckord • President, Forward Janesville • johnb@forwardjanesville.com Embracing 2021