Plans to grow Illinois’ economy could also help REALTORS® attract international investors according to guest speakers Wednesday at the Global Business Council session during the Illinois REALTORS® Public Policy Meetings in East Peoria.
Matthew Bragg (left) is introduced by Global Business Council Chair Maurice Hampton.
Matthew Bragg, Director of Data and Policy, Illinois Science and Technology Coalition, explained how his organization measures, connects and advocates for innovative companies in Illinois. For example, the coalition works with Fortune 1000 companies to identify their innovation needs, fosters interest in Science, Technology, Engineering and Math (STEM) careers for Illinois students (high school and college) and facilitates safe, professional online mentorships between professionals and those students.
The coalition also measures the growth of innovative research conducted by Illinois universities, and the types and numbers of jobs offered when ideas are converted into employment opportunities, whether they remain in Illinois or not, Bragg says. Illinois universities produced the most data science management graduates, second most computer science graduates and the fifth most STEM graduates in the nation. He said it is surprising to note the employers hiring the most STEM grads aren’t high-tech companies.
On a more local level, Randon Gettys, Director of StartUps, Greater Peoria Economic Development Council, talked about how his organization supports local startup companies in their early stages. He gave examples about local startup successes in the last two years and outlined plans for the establishment of an innovation center in downtown Peoria.
In a separate presentation, REALTOR Vito Zivoli, Managing Broker/Owner, USA Real Estate Ltd., in Arlington Heights, gave a review of the value of gross rental multipliers and market cap rates and how they can be added together to estimate market values of commercial properties. Understanding these terms and the internal rate of return can be particularly valuable when helping international investors, he said.
