Patrick Rea, regional administrator of the Small Business Administration, is starting to present the findings of a report called “21st Century Jobs and Entrepreneurship in the Midwest” around the six-state region that includes Illinois.
The report takes a broad look at the region’s strengths and weaknesses as well as the future of the Midwest’s economy. Among the region’s strengths, Rea listed industry clusters, such as the auto industry, which are expected to continue generating jobs. He also said the area’s research universities and business organizations will help create new businesses.
Rea said education, particularly kindergarten through 12th grade, was identified as one of the region’s biggest weaknesses due to low graduation rates and the nation’s low quality of education compared to other developed nations. While the U.S. has the best universities, that advantage is likely to shrink, he said. The report should be posted within the next week on the SBA regional Web site (www .sba.gov/region5).