Greater Beloit Community and Economic Development Update GBEDC - - PowerPoint PPT Presentation

Greater Beloit Community and Economic Development Update

GBEDC Annual Investors Meeting December 9, 2015

Project Announcement

Ebates/FatWallet Expansion

• Lease executed – Ironworks
• 18,538 SF
• $2.5M investment
• Construction underway
• Turnkey buildout on interior
• Façade improvements
• New roof with skylights
• Occupancy scheduled for February 2016

Ironworks Redevelopment

New Location: 525 3rd Street, Suite C

Industrial Development

Economic Development Activity

Axium Foods

• Significant expansion at South

Beloit Oak Grove facility

• 50,000 square foot addition
• $15 Million capital investment
• 25 new jobs
• City of South Beloit providing TIF

funded tax abatement incentive and major interchange infrastructure reconstruction

• Construction to begin in spring of

2016, complete in 2017

Altra Industrial Motion

• Renovation of South Beloit

Gardner Street location

• $4 Million capital

investment

• 30 new jobs
• Adding new Research

and Development capabilities

Frito-Lay Expansion Project

• 2810 Kennedy

Road

• New potato chip

line

• 30,000 SF addition
• Construction

underway

• Target

Completion- 2nd Qtr. 2016

Riverside Energy Center

Alliant Energy proposed natural gas-fueled generating station- Town of Beloit Riverside Energy Center

• 650 Megawatt
• $750 Million investment
• 200-300 Construction jobs
• ver 2 years
• Additional long-term
• perational positions

If approved by the PSC-

• Construction to begin

summer of 2016

• Completed early 2019

Alliant Energy Solar Project

• Alliant Energy & Hanwha Q Cells USA

Collaboration

• 2.25 Megawatt Solar Field Installation
• Rock River Energy Center Town of Beloit
• Hanwha will design, construct, and operate

the facility and Alliant will purchase the clean power

• Construction to begin later this year
• Go online in the first half of 2016

Pratt Industries

• Construction of a new corrugated

container board manufacturing facility

• 360,000 SF Facility
• $52 Million Private Capital

Investment

• 140 New “Green Collar” jobs
• Production Machinery being

installed

• Full Production by end of March

2016

Ecolab

• Entered into a long

term lease for the former SEC building at 1630 Apex Dr.

• 244,233 SF
• Warehouse

distribution facility

• $2.5 Million capital

investment

• 50 new jobs

Medical Radioisotopes

• Company plans to

develop a production facility linear accelerators to produce isotopes used in diagnostic medical imaging

• 50,000 SF facility

completed

• Phase 1 will create 12

new jobs

• Phase II to spring 2016

Former Cub Foods Building

• 20 Park Avenue
• Repurpose of former

grocery store into light industrial

• 57,745 square foot

renovation

• Removal of parking lot

and landscaping improvements

DuPont Expansion

• Significant production

capacity expansion

• Building addition 3,000 SF
• Parking lot

reconfiguration and expansion

• 8 new jobs
• $16.5 million investment

ConAgra Foods

• Signed a long-term lease to occupy

140,000 SF at the former Alcoa building

• Warehouse/distribution
• Also planning a major expansion to

its South Beloit cookie factory facility

• $15 Million
• 100-200 New jobs
• Target completion March 2016
• City of South Beloit and School

District of South Beloit providing a tax abatement incentive

A.M. Castle

• Former Alcoa Building
• Temporary lease of 49,500

SF through 12/31/2015

• Storage
• Training

OTHER NOTABLE PROJECTS

BELOIT SENIOR HOUSING

• 2250 West Hart

Road

• 44-100 units

being proposed

• 5 acre

development

• Project will

create 24 new jobs

• $5,000,000

private investment

• Under

construction Proposed New Assisted Living Residential Complex

Noodles & Company

• New Restaurant

at 2900 Milwaukee Road (Former Arby’s)

• Total Investment

$800,000

• Renovations

underway

• Plan to open early

2016

Major Infrastructure Projects

Milwaukee Road Improvements – Phase I

• Sidewalk

improvements

• New crosswalks
• Signal updates
• Landscaping
• Construction to

begin 2016

I-39/90 Expansion

• Widening Project scheduled to start in 2018

and expected to be completed in 2022 (project delayed-subject to change)

• Final I-39/90-I-43 interchange alignment

determined (construct 2019-2021)

County G (Prairie Avenue)

• Reconstruction from Huebbe Parkway North to WIS

11 West

• Construction underway expected to be completed

by mid-December 2015.

Inman Parkway Extension County HWY BT

• Construction on

connecting link from Hwy G (Prairie Ave.) to County S (Shopiere Rd.)

• Construction

paused for winter

• Expected to be

completed in 2016

GBEDC Committee

Highlights/Activity

Gateway Master Planning

• Plan for future potential

expansion

Land Sales Crop Income

• Identify land/ownership
• Zoning/Other land use constraints
• 208 Planning Area
• Boundary Agreement
• Availability Infrastructure
• Prioritization Exercise

Business Retention and Expansion Program

239 Interviews conducted to date

RLF Update

• Loan Portfolio Update
• 4 loans
• $118,476 lent out
• Funds Available
• $273,490.37

Investors Update

• Paid Investors YTD: 71
• Past Due: 0
• New Investors YTD: 7
• Beloit Property Managers Association
• Central Christian Church
• Chicago Fittings
• For HIM, Inc. (Homes Thru Financial

Freedom)

• NorthStar Medical Radioisotopes
• Pratt Industries
• Professional Testing Service
• Budgeted Income: $65,000
• Income YTD: $65,816.95

Preferred Vendor List

Updated & Published

New Investors brochure Designed & Published

• Tool to support new investors campaign printing costs
• Supported by a Alliant Energy’s 2015 Partnership Program grant

Economic Indicators

Economic Indicators & Trends (Rock County)

• Sales Tax Collections
• Residential Activities
• Electric Meters & Usage
• Investments & Projects
• Industrial Vacancies
• Unemployment Rates
• Bankruptcies
• Foreclosures

Detailed information, view the 2015 Rock County Economic Report and/or Rock Ready Indices online at www.RockCountyAlliance.com.

Unemployment for the City of Beloit

Month/Year Rate Rank October 2014 7.4% 3 November 2014 7.4% 2 December 2014 6.3% 3 January 2015 7.4% 3 February 2015 7.8% 2 March 2015 7.6% 2 April 2015 6.5% 2 May 2015 6.8% 3 June 2015 6.9% 3 July 2015 6.7% 3 August 2015 5.8% 3 September 2015 5.0% 3 October 2015 5.2% 3

*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

449 545,456 $889,760,000

Number of Jobs New Square Feet Value Total

3,437 4,260,404 $1,438,228,195

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

Participation reminder Greater rock county Salary & benefits survey http://astronsolutions.net/surveys/bhra/ Deadline 12/21/15

Thank You!