PRESS RELEASE
Contact:
Billy Tyus,
Assistant City Manager, City of Decatur
(217) 424-2753
David Fishel, Jr.,
Director of Marketing and Communications, Greater Decatur Chamber of Commerce
(217) 422-2200
March 4, 2010
FOR IMMEDIATE RELEASE
Decatur’s Housing Outlook Among Nation’s Best
DECATUR, IL - The City of Decatur ranks in the top 10 nationwide in terms of expected growth in property values over the next decade, according to the March 2010 issue of U.S. News & World Report.
Decatur’s housing prices are expected to rise nearly 5 percent per year over the next ten years. This forecast is even rosier than the 3.4% annual increase first projected by the magazine’s online edition in June 2009. U.S. News & World Report compiled the top 10 housing market list based on data from Moody’s Economy.com, a worldwide financial services firm providing financial analysis for government and commercial organizations. Moody’s projects home prices based on factors including job growth, unemployment rates, and potential for income growth.
“This ranking is proof positive that all of the hard work that various groups are doing each and every day for our community is starting to pay off and that people across the country are starting to take notice,” said Decatur Mayor Mike McElroy. “Cities nationwide are having a tough time economically these days but the important thing is that we continue to build momentum now for when things start to turn around.”
“If you think about all of the great things happening in this community it should be obvious that Decatur is building that momentum.”
Decatur’s emerging position as a "key player in the green energy industry” contributed to the city’s top 10 status. Luke Mullins, the article’s author, cites the city’s ability to leverage its “crop-rearing expertise” as a factor in its ranking. Mullins quotes Greater Decatur Chamber of Commerce President Randy Prince in referencing Decatur as “America’s agribusiness center.”
The Decatur community has made significant strides towards developing a green economy and positioning itself as a leading promoter of green initiatives. The Midwest Geological Sequestration Consortium is constructing an $84.3 million carbon sequestration facility at Decatur’s Archer Daniels Midland plant. This facility will reduce greenhouse gas emissions by capturing and storing carbon dioxide from the company’s ethanol plan in porous rock below the earth’s surface. Secure Energy Inc. recently broke ground on an $809 million coal-gasification plant in Decatur, which will convert 1.5 million tons of coal per year into synthetic natural gas with zero net emissions.
The City of Decatur is now developing a communitywide sustainability plan to coordinate efforts between the various groups now working to make Decatur more environmentally friendly, addressing sustainable practices within city government facilities and throughout the community at large while identifying areas needing improvement.