CBER rates local economy

October 27, 2010

How is the local economy really doing?

Many people might say times are bad, but to truly find out the state of things, you need numbers.

The Center for Business and Economic Research (CBER) of the Foster College of Business Administration (FCBA) measures business and economic indicators for the five counties in the Peoria-Pekin Metropolitan Statistical Area (MSA, comprised of Peoria, Tazewell, Woodford, Stark and Marshall counties) to give a local report on economic trends in the Peoria-Pekin MSA.

This ongoing study, funded by the Peoria Journal Star and the FCBA’s Turner Center for Entrepreneurship, releases its data every three months, with an accompanying interpretive report prepared by FCBA Professors Douglas Antola Crowe and Bernie Goitein.

Bradley’s Foster College of Business Administration has housed the CBER study since 1991, which gives Bradley students a valuable opportunity to get involved in the process.

Dr. Goitein, Director of the CBER, said Bradley students play an important role in the query.

“I am a full-time professor, and this is a large and complex data base,” Goitein said. “I need students to take charge of the database to produce the data table.”

Goitein also said the opportunity makes students more marketable.

“They develop skills that they will use later for analysis of business data in real life situations,” Goitein said.

Christine Stoka, an accounting graduate, helped Goitein run regressions, prepare graphs, and maintain the database by updating it regularly.

“Working with Dr. Goitein has provided real world experience and enhanced my computer skills,” Stoka said. “The Scope report is printed in the Journal Star quarterly and it is always exciting to see your work in print.”

So how is the local economy doing?

Relatively well, according to the website.

The CBER research for the summer quarter of 2010 showed that the economic indicators for the area rose 0.7 percent and stands 0.6 percent above last year’s level.
To learn more about the study’s results, go to http://bradley.edu/academic/colleges/fcba/centers/economic/