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New Arcola restaurant to spur further growth downtown [Video]

ARCOLA, Ill. (WCIA) — Arcola welcomed in a new one-stop shop for all of your favorite tasty treats, and it’s got many people excited for economic growth downtown.

La Michoacana Rústica celebrated their grand opening on Thursday. The family-owned restaurant offers food, ice cream, and more. The city closed a portion of Main Street for bounce houses and open walking to welcome the new business.

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Mayor of Arcola Jesus Garza says this is a great addition to spur further growth downtown.

“The rest of the community sees what happened when we tried to help in a business — how they growing, how they’re going to continue growing,” Garza said. “And that way we can motivate to get more business in town.”

The city helped make it happen through tax increment funding. The restaurant is located on East Main Street in downtown Arcola.

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How China Is Rewiring Its Faltering Economy [Video]

Xi Jinping has a plan to fix his country’s faltering economy and offset the pain caused by the property crisis. The goal is to move up the value chain. Out with dirty, low-end manufacturing and in with new industries like solar and electric vehicles. The problem, however, is Chinese consumers aren’t spending. Also, Beijing faces a tense trade and geopolitical landscape with the US and Europe.00:00 Introduction 01:05 China’s growth story 01:54 Solar firm GCL 02:50 Hi-tech sectors04:05 Tariffs and weak consumption07:09 Model of success If you want to read more on China’s “great rewiring,” click here: https://trib.al/25srtVZFor more on Xi Jinping’s plans for the Chinese economy, click here: https://trib.al/4zPyDoh Sign up here for the Next China newsletter to get Bloomberg’s weekly dispatches from Beijing: https://trib.al/kX4Zyws--------Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginalsBloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.