DAVENPORT, Iowa — A new Davenport business is a sign of a booming local economy and one analyst says it points toward more growth.
Imperial Vending spent the last year getting its new space ready on Northwest Boulevard. It used to belong to Anheuser-Busch. Imperial invested nearly $1 million to make upgrades and add technology to the building.
The investment is already paying off.
John slaughter / imperial vending spokesperson
“We’ve seen about a 10% growth in sales already,” said chief operating officer John Slaughter. “We see that continuing to grow probably 15% to 20% each year for the next four to five years.”
When a vending machine company is doing well it means other businesses are too.
“They’re hiring people, there’s more people eating snacks. There’s more people drinking coffee,” Slaughter said. “So that is a direct correlation with growth for us.”
That means more places for Quad Citians to spend money, according to Quad Cities Chamber of Commerce spokesperson Kristin Glass.
“We wouldn’t have the restaurants and the retail and the hotels because those are the spin-off effects of the primary jobs,” Glass said.
The chamber closely follows these trends. Now they say there’s a new problem.
“With more jobs, more opportunities, comes the needs for more workers,” said Glass.
But she said the solution to the problem circles back to businesses like imperial.
They bring in the business, which builds up the amenities, and those bring in the workers.
“It’s going to create opportunity,” Slaughter said.