European Stars And Stripes (Newspaper) - July 26, 1986, Darmstadt, Hesse Virtually every business in Peoria suffered from Caterpillar s financial woes Tut thing Are looking up again. Resurgence in Peoria by Bob Springer associated Pressi immune to economic hard times through most of ils Long history the midwestern River City of Peoria iii., has Sling led through five years marked by layoffs failed businesses a crippling strike and lagging sales. Now it Hopes it s bouncing Back. Peona s alive insists Mayer Jim aloof 66. A Lormer High school cheerleader elected a year ago on a pledge to brighten the Economy by first improving the cily s Altitude about itself. We re coming Back says the irrepressible Maloof owner of a real estate firm however some of the area s 350,000 residents Lear Peoria s Nea recession proof Era May have vanished things Are better than a couple years ago but it s never coming Back like it was said Paul Hesselberth a technician for nor corp who moved Here 30 years ago and lives with his wife and two Leen agers in a quiet subdivision the Illinois River which widens to two Miles at Peoria to form a Lake helped make Prosperity synonymous with Peoria since the French arrived in 1680 to Harvest the Bountiful animal furs. In part because of the River and its convenient transportation Peoria emerged As the nation s whiskey capital in the late i9lh and Early 20lh centuries for a while Peoria sent More Tan Revenue to Washington than any american City according to peoria1. A a Eccl history published by local newspaper columnist Jerry Klein. When prohibition corked Peoria s whiskey casks in the 1920s, Prosperity settled behind the wheel of a big yellow tractor emblazoned with the logo of Caterpillar tractor co. Now Caterpillar inc. The company which makes Earth moving equipment was incorporated in 1925 and except Tor the depression year 1932, never suffered a financial loss for 50 years. It became one of the stale s largest employers and the foundation of Peoria s livelihood. In 1981, the City uttered a double loss Hiram Walker shut its riverfront distillery and bottling works. Pabst began closing Down ils brewery in Peoria Heights. Midwest manufacturing jobs Pink Ymir in to Yundi of Aba Tho ""1j1lffl and in Laic 1982, the United Aulo workers Sluck Caterpillar. A walkout thai lasted seven months a nil Send Shock Waves through i to local Economy in addition Cal Crillar began Leuling inc Impact of High incr Cal tales and a Strong us Dollar Many Domestic and overseas markets dried up buyers Lumc to inc cheaper machines of Caterpillar s foreign compe tors Caterpillar loss Money $950 million from 198? through ibs the company trimmed ils local work Force by half to about 16.000 area suppliers also folded or Laid off thousands. Virtually every business in Tho cily was Alle Tod Only one Down town department store survived Smice 1978. Tho metropolitan area has loss 34,000 lobs and an estimated 13,000 people according to government surveys Tho hard limes have their own landmarks Caterpillar s unfinished training Center near downtown its abandoned parts warehouse in suburban Morion and 8,500 vacant Homos scattered throughout the area despite the troubles Many remained Scott Caswell a victim of the Hiram Walker closing who was unemployed Lor Throe years now drives a cab i could have gotten a boiler paying Job somewhere else but i Don t want to leave i like said Caswell. 39 it s a Good solid own it s that kind of civic Pride Malool is hoping to capitalize on. Along with a resurgence in Caterpillar s fortunes Caterpillar earned $190 million in 1985. In part because of Cost cutting etl oils and automation Malool. Delighted said he was ready to dance in inc streets i will do anything to make people feel Good Aboul this City he once boasted after showing up in his Robe and pyjamas to serenade customers at the grand opening of a retail store and things Are happening All Over the mayor said sweeping his Arm toward inc downtown riverfront and Industrial Center there More than $300 million in private and Public Money has been spent on development since 1930 the showpiece is a downtown civic Center with a i Heater Lor the symphony and the arts and an Arena Lor conventions concerns Bradley University basketball Andreona s professional hockey team. Other projects include Iwin 29 Story condominium Lowers a new Industrial Park adjacent to downtown and major additions to All three City hospitals and to inc University of Illinois medical school Complex. New Industry has moved in including 3 s20 million korean owned automobile fuel filler plan and a japanese company that manufactures a versatile chemical used in everything from de rusling compounds to plastic containers. And peo rians hungry for work Hope to Benefit from the $600 million Diamond Star motors corp Assembly Plant going up in Bloomi Glori. 40 Miles cast. The Auto Plant owned jointly by Chrysler corp and Mitsubishi motors of Japan is to employ 2,900 and Ercale an additional 9,000 related jobs the Day alter Bloomington was chosen last Del 7 Lor Ine plan Peona s economic development Agency placed ads in automotive Trade journals and lived off Helleis to 4,000 parts suppliers mailing them to locate in the area so far 53 companies have responded and a dozen have toured possible Sites Maloof said. But looming Over All of this optimism Are con race Laiks in Progress since Early april Between inc Law and Caterpillar and the Lear of another devas Lamg strike the centred expires june 27. A a luxe would kill said Maloof. We can t survive another saturday july 26, 1988 the stars and stripes o Page 17
