Study Reports Peoria is a Resurgent City
According to the December 2009 issue of Profitwise News and Views, a publication of the Federal Reserve Bank of Chicago, Peoria was identified as one of ten US resurgent cities. Rick Mattoon, a Federal Reserve Bank of Chicago senior economist and economic advisor, cited a study from the Boston Fed entitled, "Reinvigorating Springfield's Economy: Lessons from Resurgent Cities." The report stated that across the ten cities, industry mix, demographics, and geography were not the dominant factors in their renewal. Rather, the principal factor is social capital - leadership from government, nonprofit, and business sectors.
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