All Economy Content

All Economy Content

Local governments' finances getting back to pre-recession levels

It took a while, but the three biggest local governments in Champaign County either have finally regained their financial footing from the recession of 2008, or they expect to do so this year.

Home sales, prices up in February from year earlier

CHAMPAIGN — February home sales in the Champaign County area were up 13.5 percent from a year earlier, the Champaign County Association of Realtors reported.

The association's Multiple Listing Service said 109 single-family homes were sold in February, up from 96 homes in February 2012.

Jobless crisis dwarfs debt's urgency, expert says

Economist worried over long-term effects on young unemployed

CHAMPAIGN — The United States faces an unemployment crisis that demands more immediate attention than the nation's debt problem, Nobel Prize-winning economist Peter Diamond said.

Flash Index dips in February

URBANA — An indicator of economic growth in Illinois has declined for the month of February.

The University of Illinois Flash Index for February dropped slightly from 104.9 to 104.8 last month. After reaching the highest level in almost five and a half years in January, the leveling off indicates continued moderate growth in the Illinois economy, according to the university.

Volition's 'Red Faction' franchise up for sale -- again

CHAMPAIGN — The "Red Faction" video-game franchise will go up for sale — again.

THQ Inc., which sold off many of its assets in a bankruptcy-related auction in January, announced Tuesday that it plans to sell off several remaining assets, including the "Red Faction" franchise.

Tom Kacich: Kraft a mainstay from a boom year for C-U

Could there have been a better year for the Champaign-Urbana economy than 1963?

Kraft mulls expanding Granite City plant

GRANITE CITY, Ill. (AP) — Kraft Foods is weighing whether to spend $40 million to expand a southwestern Illinois plant if the city and state provide about $400,000 to widen a road in front of the site.

Business roundup: Village Inn Pizza closes; family business for sale

URBANA — Village Inn Pizza has closed after 47 years of operation, and the business is up for sale, according to a release from the family-owned company.

Report: State at risk of skid into recession

SPRINGFIELD — Poor state finances and a weak housing market threaten to send Illinois back into recession, according to an economic outlook prepared for the Legislature's Commission on Government Forecasting and Accountability.

Work on Rantoul plant progressing inside now

RANTOUL — With the shell up on the Easton-Bell Sports plant west of Rantoul, work is progressing on the interior.

Village Inspector Dan Culkin told the village board at its February study session this week that the steel work inside the building is "three-fourths of the way done."

"It's interesting when you stand on the east end and look west, it's a lot of steel," Culkin said.