Waterloo suffered in the agricultural recession of the 1980s; its major employers at the time were heavily rooted in agriculture. John Deere, the area's largest employer, cut 10,000 jobs, and the Rath meatpacking plant closed altogether, losing 2,500 jobs. It is estimated that Waterloo lost 14% of its population during this time. Today the city enjoys a broader industrial base, as city leaders have sought to diversify its industrial and commercial mix. Deere remains a strong presence in the city, but employs only roughly one-third the number of people it did at its peak.
Waterloo suffered in the agricultural recession of the 1980s; its major employers at the time were heavily rooted in agriculture. John Deere, the area's largest employer, cut 10,000 jobs, and the Rath meatpacking plant closed altogether, losing 2,500 jobs. It is estimated that Waterloo lost 14% of its population during this time. Today the city enjoys a broader industrial base, as city leaders have sought to diversify its industrial and commercial mix Deere remains a strong presence in the city, but employs only roughly one-third the number of people it did at its peak.