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Greater Beloit Communityand
Economic Development Update
September 28, 2016GBEDC Quarterly Board Meeting
City Center/RedevelopmentActivity
Continued Redevelopmentof the Iron Works Ebates/FatWallet Expansion
Comply365
AccuLynx
Mastercraft
Stateline Family YMCA(Groundbreaking in April 2016 and Grand Opening isscheduled for November 2016)
Hendricks Career Tek(Construction is underway and scheduled for openingFebruary 2017)
IronworksSouth
Parking LotExpansion
Net New StallsApproximately 90
608.312.4333www.irontek.com
Irontek is a collaborative and dynamicwork space that provides a flexible spacefor growing and start up businesses.Benefits:• 40 co-working desks with individual power source• 8 private offices ranging from $300-$500/month• 2 conference rooms with state-of-the-art technology• Kitchen and rec roomTenants:• Greater Beloit Chamber of Commerce• Resonate Web Marketing• Brownfield Environmental Engineering• The Right Site Search FirmEntrepreneurial Resources• gBETA• Score
Business Incubator | Co-working Space | Tech Hub
The Power of thePowerhouse
Adaptive reuse◦ From a vacant power
generating facility to -◦ A campus activity and
recreation center Fitness
Center/Pool/Track Health & Wellness
Center Flexible Meeting Spaces Lecture Hall/Movie
Theatre Nearing fundraising goal
of $38 million
Beloit CollegePower Houseproject
IndustrialDevelopment
Altra Industrial Motion
• Renovation of SouthBeloit Gardner Streetlocation
• $4 Million capitalinvestment
• 30 new jobs• Adding new Research
and Developmentcapabilities
Riverside Energy Center
Alliant Energy proposed naturalgas-fueled generating station-Town of Beloit RiversideEnergy Center 700 Megawatt $750 Million investment 200-300 Construction jobs
over 2 years Additional long-term
operational positionsApproved by the PSC- Demo work began in May Large scale construction 2017-
2019 Fully operational 2020
ConAgra Foods
• Signed a long-term lease to occupy 140,000 SF at the formerAlcoa 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
DuPont Expansion
•Significant productioncapacity expansion
•Building addition 3,000 SF•Parking lotreconfiguration andexpansion
•4 new jobs•$23 million investment
HENDRICKS COMMERCIALPROPERTIES SPEC BUILDING
PROJECT
(State Line Industrial Park)
31.59 Acre Site
PHASE I (Leased)◦ Initial 105,000 SF building◦ Construction began the end of April 2016◦ Substantial completion December 31, 2016◦ $6 million capital investment
PHASE II (Adjacent to Willowbrook Road)◦ 105,000 SF building construction to beginspring 2017◦ $6 million capital investment
PHASE III and Beyond◦ Addition of up to 210,000 SF of building space◦ $12 million in additional private capitalinvestment
15
Walters/Townline Industrial Park
◦ 85 Acres◦ May be Subdivided◦ Immediately Adjacent to Riverside
Energy Facility◦ Town Owned New Aggressive Incentive Pricing
Strategy
OTHER NOTABLEPROJECT
• $13.8 Million Project• New Hybrid
Operationing Room• 2 Cardiac
Catheterization Labs• 3 Phase Project with
completion in 2017
Hendricks Family HeartHospital & Packard Cardiology Clinic
ResidentialDevelopment
ASSISTED LIVING
Beloit Senior Housing◦ 2250 West Hart Road◦ 44-100 units◦ 5 acre development◦ Project will create 24 new jobs◦ $5,000,000 private investment◦ Construction Complete – Grand Opening - September 24, 2016
Cranston Elderly Care Facility◦ 1971 Cranston Road◦ 20 Units (assisted living)◦ Construction to begin Spring 2017
Multi-Family
Hawk’s Ridge Expansion◦ 3 New 4 Story Buildings◦ 400 Additional Units◦ 441 New parking stalls
Hawk’s Ridge Expansion
Condo Project
Walnut Grove Condos◦ Duplex Condos◦ 6 buildings/12 units◦ Some pre-sold
Single FamilyEagles Ridge Subdivision (Gateway)◦ Building permits for new homes (and sales) increasing since
great recession. 14 since 2012
◦ New Leaf Homes has built 13 of the 14 and has plans toconstruct more including the newly platted Raven DriveSubdivision.
◦ New home values range from $154,000 to $206,000
Town of Beloit Residential Opportunities
◦ Blackhawk Run◦ Cora Court/Lockhart Project◦ Heron Bay◦ Town Owned Incentivized Pricing◦ Potential Combined Impact 137 New homes $22.5 million net tax base 600 New residents
WorkforceDevelopment Activity
Jobs In Rock CountyStreamline your talent recruitment and retention efforts byusing JobsInRockCounty.com, the area’s one-stopemployment and information portal.
Launched March 2016 Robust, Easy-to-Use Online Job Posting Interface Create, Save & Update Posting Templates Job Board, Search Engine & Social Media Compatibility Access Applicant Information in Real-Time Automate & Customize Applicant Communication Share Pre-Qualified Candidates; Access a Trailing Spouse & Lock-
In the Candidate by Leveraging the Community ConnectionProgram
Access Value-Added Community Information & Data Serve as a Resource for Third-Party Recruiters 90 companies signed on 130 job positions Average 1 new posting per day
www.jobsinrockcounty.com
Crafting and delivering an accurate and enthusiasticbrand promise and message (promoting Beloit)
Interacting with HR and recruiting staff Interacting with existing and prospective professional
employees A solid understanding of Beloit and its assets
(knowledge) Making connections with people (engagement) Familiarization of Greater Beloit’s major employers Superb customer relationship skills Community Tours Establish and maintaining a network of local “go to”
resources
Talent Recruitment and RetentionCommunity Concierge Pilot ProgramVision Beloit Partners hire and manage a part-time position toprovide employment candidates customized interaction.
Posting for position began in early Augustand ran through the end of the month
10 Resumes Received
Candidates experience range from PhD. to CollegeFreshman
Partners have selected final candidates to interview
Interviews scheduled and candidate to be selectedin October
Pilot Program Funded$20,000
Initial Investors Hendricks Companies
Kerry
Beloit College
Beloit Health System
First National Bank &Trust
GBEDC
Programming Updates
Business Retention andExpansion Program
254 Interviewsin Rock County
conducted todate
RLF Update• Loan Portfolio Update
• 3 loans
• $85,290 lent out
• Funds Available• $326,021.30
Investors Update
Paid Investors YTD: 75 Past Due: 0 New Investors YTD: 5
Community Health Systems Father & Son’s Cleaning Western Container Kurt Egan – Individual Johnson Bank
Budgeted Income: $66,000 Income YTD: $69,713.75
QUESTIONS?
THANK YOU!
Pratt IndustriesChuck Gregg, General Manager
Facility ToursShort Option – 15 minutesLong Option – 30 minutes