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

Economic Development Activity Industrial Development

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- 2 nd 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  over 2 years Additional long-term  operational 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 Proposed New Assisted Living Residential Complex  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

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 Summary of Current Economic Development Activity New Number of Jobs Square Feet Value Total 449 545,456 $889,760,000 Summary of Economic Development Activity Since 1999 New Number of Jobs Square Feet Value Total 3,437 4,260,404 $1,438,228,195

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

Thank You!