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In the words from a Hollywood Movie from 2010/2011, Moneyball:

"Billy, what's the problem? In response, Billy says "You're not even looking at the problem."

The research about Peoria, Illinois (former Headquarters of Caterpillar is easily known with various search engines. What's the real question?

What 1 or 2 additional 'things of business' can and will boost local economic output and value? Boosting, in theory, overall real estate valuations coupled with econimic 'greater than standard of living' job growth and, in turn, incremental population growth, thus reducing the state of Illinois 'wealth gap' between 'rich' and 'poor'?

The answer, perhaps, is found with the founder and company - Automation Anytime

Illinois wealth gap from 1980-2026

The population of Peoria, Illinois, has experienced a long-term, slow decline since its peak around 1970 and 1980, trending in the opposite direction of the United States national average, which has seen consistent, though fluctuating, growth. While the U.S. population increased by over 40% between 1980 and 2020, Peoria’s city population decreased, falling from over 124,000 in 1980 to roughly 110,000–112,000 by 2026.

Population Trend: Peoria vs. USA (1980–2026)

1980–1990 (Significant Decline): Following a peak in the 1970s, Peoria experienced a dramatic population drop of almost 9% during this decade, driven by industrial downturns (Caterpillar restructuring) and the closure of major breweries. In contrast, the US population grew by nearly 10% in the same period.
2000–2010 (Minor Growth/Stability): Peoria experienced a slight increase of 1.85%, growing to about 115,000, while the national population grew much faster at 9.63%.
2010–2020 (Resumed Decline): The population decreased by 1.85%, falling to 112,942 by the 2020 Census. The US population grew by 7.18% in this same period.
2020–2026 (Continued Decline): The city has continued to see a slight downward trend. The 2026 estimated population is 111,696, representing a -1.1% drop since the 2020 Census.
2026 Snapshot: While the U.S. population has recovered to grow at nearly 1% annually (2023-2024), Peoria is currently estimated to have a very slow, small decrease or, by some estimates, a minimal 0.45% annual growth, which is still generally outpaced by national growth trends.

Correlation to National Averages

Divergent Trends: Peoria’s population changes have frequently been inverse to national averages. When the U.S. has seen growth, Peoria has often seen stagnation or decline.
Local Factors: The decline is heavily attributed to regional factors, including manufacturing job losses (Caterpillar) and outmigration to neighboring suburbs (Washington, Germantown Hills), a trend known as the "last one out of Peoria" period.
Illinois Context: Peoria's population loss mirrors that of other Illinois industrial cities, as the state has struggled with population retention compared to Southern and Western states.

Key Data Points

Timeframe

Peoria Population (City)

US Population Trend

1980

~124,000

Growth (11.5%)

1990

~113,500

Growth (9.8%)

2000

~112,900

Growth (13.2%)

2010

115,007

Growth (9.7%)

2020

112,942

Growth (7.2%)

2026 (Est)

111,696

Growth (approx 0.8-1% annually)

Illinois wealth gap from 1980-2026

The wealth and income gap in Illinois has widened significantly since roughly 1980, tracking closely with national trends of rising inequality. Data indicates a "squeeze" on the middle class, a stagnation in income for the lowest earners, and a sharp, consistent accumulation of wealth among the top 1% to 20% of households. As of 2024–2025, Illinois ranks among the states with higher income inequality, with the top 5% of households earning 14.6 times more than the bottom 20%.

Key Trends in Illinois (1980–2026)

1980s–2000s: The Rising Gap: Following 1980, income inequality began a steady rise. By the late 1980s, the richest 20% of Illinois families had average incomes 6.3 times greater than the poorest 20%; by the mid-2000s, this ratio grew to 7.5.
Middle Class Squeeze: The share of middle-income households in Illinois fell from nearly 60% in 1970 to below 50% in the post-2008 recession era. Middle-class wealth was severely impacted by housing debt, with net worth declining, particularly leading up to 2016.
Income Concentration: Income inequality in Chicago and surrounding areas more than doubled between 1970 and 2010, with the steepest increases occurring between 1980 and 1990.
Impact of Tax Structure: Illinois's flat tax system has been noted for exacerbating the wealth gap, with studies suggesting it benefited the top 3% of earners by billions over two decades while disproportionately impacting Black and Hispanic households.
2020–2026 Outlook: While pandemic-era fiscal policy caused a temporary dip in national inequality in 2020-2021, the trend rebounded sharply. By 2024–2025, Illinois remained a high-inequality state, and national data shows the top 1% of households reaching record shares of wealth, exceeding 30%.

Factors Contributing to the Gap

Declining Unionization: The long-term decline in union membership has reduced wage growth for working-class families.
CEO Pay & Financialization: Exorbitant growth in executive pay and income from capital gains (stocks/investments) has driven up the share of income for the top 1%.
Educational Divide: Growing disparities in earnings between those with college degrees and those without.

Racial Wealth Gap

The racial wealth gap is a significant component of Illinois's inequality, with Black and Hispanic households in the state facing barriers to wealth accumulation, such as lower homeownership rates and lower-valued assets, compounded by tax policy.

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Peoria Illinois Research : Real Estate Valuation Data From 1980-2026