Greater Beloi oit Econom omic Develop opment GBED EDC Annual - - PDF document

12/12/2018 1

Greater Beloi

• it Econom
• mic

Develop

• pment

GBED EDC Annual Investors Meeti eting Decem ember er 12, 2018

2

12/12/2018 2

• 132,000 SF Office Expansion
• New 4 story building
• $30,500,000 Investment
• 270 Associates will work there initially

with projected growth up to 600

3

ABC Supply ply Expa pansion

New Office 4 Story Office Building

12/12/2018 3

New Office 4 Story Office Building New Office 4 Story Office Building

12/12/2018 4

New Office 4 Story Office Building New Office 4 Story Office Building

12/12/2018 5

9

• Manufacturer of High-Performance Residential Doors

relocating from Rockford, IL

• Leasing 105K SF Spec Building II
• 16 Million Dollar Project
• 84 New Jobs
• WEDC Providing a $250K Tax Credit

10

Seal-R l-Rit ite Door

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• Provides Support to the Pulp and Paper Industry
• Former Beloit Corp. Subsidiary
• Recently purchased and rehabbed 16200 Woodmint Lane in South Beloit –

Relocated from Machesney ey Park

• 12K Building
• 17 Employees

11

PMP Americas

• Significant Milestone

Achiev eved

• November Announcement
• Department of Interior

published the EIS in the Federal Register

• Public Hearing held

December 11th

• ETA for Federal Approv
• val –

April 2019?

• Governor Review

ew <12 Months

12

Beloit Casino Project

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City Center/ r/ Redevelo lopme pment Activity ity

Iron

• nwor
• rks Pe

Pedes estrian Bridge comp mpleted ed and dedica cated ed to the public

12/12/2018 8

• 500 Public Avenue
• 34 Room Boutique

Hotel

• Velvet Buffalo Café
• Rooftop Meeting

Space

• 35,000 SF

Renovation

• $5.2 Million Project
• Open

Hotel Goodwin win

• $5.5 Million Dollar Project
• 26,000 SF
• Construction scheduled to be completed by Summer 2019

BMHS Master Plan - Phase I - Welcome Center Administration Offices

12/12/2018 9

Continued Redevelopment of the Ironw nworks

IronTek Expansion 8K SF - Complete

(35 companies currently - waiting list of 18)

Ebates Expansion 25K-35K SF - Complete Acculynx Expansion 12K-22K SF – Complete First National Bank & Trust 22K SF - Complete

• Plannin

ing and fundrais isin ing phases compl plete - $38 Millio ion

• 150,0

,000 SF compl plete renovatio ion

• Offic

icia ial demo/buil ildin ing phase began last summer

• Constructio

ion through 2018 - Compl plete by fall 2019

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• Former Kerry manufacturing site
• Vacant 10+ years
• HCP is transforming the building

into a 72-unit upscale apartment building

• Studio, One, Two and Three-

Bedrooms will be available

• Unique floor plans, amenities, and

materials (brick, steel, etc.)

• $12 Million Investment
• Construction starts 2019

200 West Grand Avenue ue

Photo provided by the Beloit Daily News

Truk’t Street Tacos

• 443 East Grand Ave.
• International Tacos
• Tequila & Whiskey Bar
• Open

Blue Collar Coffee

• 408 Pleasant St.
• Unique/Specialty Coffees & Teas
• Craft Pastries
• Open

Combined creates new 50 jobs

Truk't Stree eet Tacos and Blue Colla lar Coffee fee

12/12/2018 11

Indust strial rial Develo lopme ment nt

• Implementation of the North American Phase with over 70

rollouts already taken place across the globe

• Program involves the standardization of business processes and

data via a global computer (SAP) System

• One of Kerry’s most significant capital investments ever

undertaken

• 120 additional staff members and 3rd party consultants
• Program will be headquartered in Beloit with the Kerry Connect

Team occupying 25,000 SF at the Ironworks Complex (SAP)= System, Applications, Products

Kerry Group

Kerry Connect Program

12/12/2018 12

• Recently gained approval from the USDA to produce radioisotopes in

their RadioGenix System

• Radioisotopes are used in 10 Million medical diagnostic procedures a

year in the US

• Construction on Phase II including a 20,000 SF 50% complete
• $9 Million Investment (building only)

NorthS hStar Medical cal Radioi

• isot
• top
• pes

A Pa Pacific Bearing Company

• $10 Million Expansion Project of South Beloit Campus
• 66,000 SF New Building
• Manufacturing
• Office / Support
• Cafeteria
• $6.25 Million
• New Machinery & Equipment
• $3.75 Million
• 2 Year Project
• 70% Complete

12/12/2018 13 Alliant Energy pro roposed natural gas-fueled generating station-

Town of Beloit Riverside Energy Center

• 730 Megawa

watt

• $700 Million investment
• 60% Complete
• Current onsite labor force
• ver 700
• Fully Operational by early

2020

Riverside Energy Cent nter

• New 18,000 SF Engine Paint Shop
• New Security Center
• $2,750,000 Investment

Fairb rbank nks Morse

12/12/2018 14

LCS 29 TO BE NAMED USS BELOIT

Graphic provided by the U.S. Navy

This graphic illustration shows the future Independence- variant littoral combat ship USS Beloit. The new ship was announced October 9th by U.S. Sen. Tammy Baldwin, D-Wis., and recognizes a partnership between Fairbanks Morse in Beloit and the U.S. Navy since 1938.

MARCIA ANDERSON

• Retired U.S. Army Major General
• Beloit Native
• First Black Woman Promoted to Army Major General
• Will participate in milestones in the life of the ship
• Keel laying
• Launching
• Commissioning
• Maintains a lifelong relationship with the ship and crew

USS BELOIT SPONSOR

12/12/2018 15

COMMERCIAL AL/ RETAIL IL ACTIVIT VITY

30

Casey’s Genera ral St Store Town

• wn of Beloit
• 4,700SF
• Corner of Prairie

Avenue and Inman Parkway ay

• Opened Nov
• vember 9th

12/12/2018 16

31

G5 Brewing Company

Craft micro brewery- restaurant/bar/beer garden 50-70 full and part-time employees 9,750 SF facility $2.8 Million Inv nvestment Construction underway March opening

• New Holiday Inn Express Hotel
• 6 Stories/84K SF
• 124 Rooms
• 3022 Ford Street (former Wickes Lumber site)
• Outlot Development Opportunities
• Under Construction – Open April 2019

KDN Hospital italit ity

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Belo loit it Hotel Gro roup LLC

• Hilton Home 2

(Extended Stay Hotel)

• 102 Rooms/64K SF
• Adjacent to Hampton Inn

(Cranston/Milwaukee Road)

• $11,200,000 Investment
• Out lot Development

Opportunities

• Open

Other Notable Commercial Projects ts

• Bryden Quick Lube
• Cornerstone Credit Union South

Beloit

• The Rock Bar and Grill -Outdoor

Venue Amenities

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Resid identia ial Develo lopment nt

Town of Beloit Residen denti tial Deve velopm pment

Black ckhawk Ru Run

• Single family and duplex mix
• 3 units under construction
• 50 available

Courtney Condos

• s
• Duplex condos
• 5 buildings constructed
• 6-14 expected in 2019

Glen en Hills

• Plat approved
• Infrastructure and home construction to

begin spring

• 36 single-family lots

River er Bay Estates es

• Mix of single and multi-family units
• 1 under construction
• 25 available

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Single Family

Eagles Ridge Subdivision

• n (Gateway)
• New Leaf homes continues to pull

permits and build homes

• 3 homes under construction
• New home values range from

$154,000 to $206,000

• Construction on Phase III (22 lots)

and extension of Eagles Ridge Drive

• n hold for winter
• 4 Buildings
• 18 Units (Multi-Family)
• 28,500 SF
• Under Construction
• Leasing first 6 unit building underway
• Ribbon cutting September 20th

Elm Grove ve Esta tate Condos

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• 1 new building
• 58 units
• $11.4M Assessed Value
• Construction underway
• Construction of a 7th building being considered

Hawk wk’s Ridge Apartment nts

Major Infr frastr tructu ture Proje jects ts

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• Funded and under

construction

• Project being advanced by

1 year

• Most local work will take

place 2019-2021

• Complete by 2021

including new interchange

I- I-39/9 /90 Expansio sion

Town Hall Road Reconstr tructi tion

• Town

wnhall Road from Gateway Blvd going south to near the rail ilroad tracks

• Compl

plete reconstructio ion

• New pavement & base
• Curb & gutter
• Ditches & sidewalk
• Lightin

ing

• Re-pa

pavement from rail ilroad tracks ks to curve

• Constructio

ion compl plete

12/12/2018 22

Gateway Water Extension

• Creates loop/

p/resil ilien iency in system

• Prepa

pares the Dougan Meadows ws site for future single-f

• family resid

identia ial

South Beloit Wastewater Treatment Plant

• June 2018

Groundbreakin king

• $34.7

.7 Millio ion

• 20% Compl

plete

• Operatio

ional 2020

12/12/2018 23

STRATEG EGIC IC INITIA IATIVE IVES

Gateway Housi sing Mast ster Planning and Marketing

• 15

15 acres es Multi-Fami mily

• Master

er Plan prepa pared ed

• Re

Reques est for Propos posals issued ed

• 1 propos

posal Forward Constructi ction

• n Grou
• up,

p, LLC

12/12/2018 24

Concept Plan Vision Beloit

• Vision Beloit Partners gave up space at 500 Public Ave. to

support space needs for the Hotel Goodwin Project.

• Currently exploring several options for reestablish new Vision

Beloit offices

• Existing facilities
• Existing with additions
• New build

12/12/2018 25

ECONOM ONOMIC IC INDIC ICATORS RS

12/12/2018 26

Unemployment for the City of Beloit

Month/Year Rate Rank October 2017 3.7% 29 November 2017 3.7% 30 December 2017 3.2% 29 January 2018 3.6% 28 February 2018 4.2% 31 March 2018 4.2% 31 April 2018 3.5% 31 May 2018 3.6% 30 June 2018 5.0% 31 July 2018 4.4% 30 August 2018 4.5% 29 September 2018 3.2% 28 October 2018 3.3% 29

*Source: Wisconsin Department of Workforce Development, Bureau of Workforce Training – Labor Market Information Section

Economic Development Activity

Number of Jobs New Square Feet Value Total

183 366,404 $842,063,400

Number of Jobs New Square Feet Value Total

4,191 4,805,558 $1,582,691,595

Summary of Economic Development Activity Since 1999 Summary of Current Economic Development Activity

12/12/2018 27

Questions/Comments?!