After a rough year of bankruptcies and store closures in 2024 — some of which have been felt in Galesburg — some experts believe retail may face an even steeper uphill battle in 2025.
Within the last three months, Big Lots, Pet Supplies Plus and JOANN Fabrics have announced hundreds of store closures due to financial struggles — including stores here.
Ken Springer, president of the Knox County Area Partnership for Economic Development, joined WGIL's Jay Redfern and Tyler Gumm on Galesburg's Morning News to talk about the future of retail.
The conversation also covers:
- National Railroad Hall of Fame Visitors Center: Potential for economic development in Galesburg.
- KCAP's 2024 Annual Report: Highlights the significance of the year as the most important since its founding 9 years ago.
- Economic Development Momentum: The importance of maintaining momentum in 2025 with new strategies and priorities.
- Housing Issues: Multiple community partners, including KCAP, are addressing the significant issue of housing, suggesting a need for a focused starting point.