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12/12/2018
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Greater Beloit EconomicDevelopment
GBEDC Annual Investors MeetingDecember 12, 2018
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12/12/2018
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• 132,000 SF Office Expansion
• New 4 story building
• $30,500,000 Investment
• 270 Associates will work there initiallywith projected growth up to 600
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ABC Supply Expansion
New Office 4 Story Office Building
12/12/2018
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New Office 4 Story Office Building
New Office 4 Story Office Building
12/12/2018
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New Office 4 Story Office Building
New Office 4 Story Office Building
12/12/2018
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• Manufacturer of High-Performance Residential Doorsrelocating from Rockford, IL
• Leasing 105K SF Spec Building II
• 16 Million Dollar Project
• 84 New Jobs
• WEDC Providing a $250K Tax Credit
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Seal-Rite Door
12/12/2018
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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 Park
• 12K Building
• 17 Employees
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PMP Americas
• Significant MilestoneAchieved
• November Announcement
• Department of Interiorpublished the EIS in theFederal Register
• Public Hearing heldDecember 11th
• ETA for Federal Approval –April 2019?
• Governor Review <12 Months
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Beloit CasinoProject
12/12/2018
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City Center/Redevelopment Activity
Ironworks Pedestrian Bridge completed and dedicated to the public
12/12/2018
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• 500 Public Avenue
• 34 Room BoutiqueHotel
• Velvet Buffalo Café
• Rooftop MeetingSpace
• 35,000 SFRenovation
• $5.2 Million Project
• Open
Hotel Goodwin
•$5.5 Million Dollar Project
•26,000 SF
•Construction scheduled to be completed by Summer 2019
BMHS Master Plan - Phase I - WelcomeCenter Administration Offices
12/12/2018
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Continued Redevelopment of the IronworksIronTek 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
• Planning and fundraising phases complete - $38 Million
• 150,000 SF complete renovation
• Official demo/building phase began last summer
• Construction through 2018 - Complete by fall 2019
12/12/2018
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•Former Kerry manufacturing site
•Vacant 10+ years
•HCP is transforming the buildinginto a 72-unit upscale apartmentbuilding
•Studio, One, Two and Three-Bedrooms will be available
•Unique floor plans, amenities, andmaterials (brick, steel, etc.)
•$12 Million Investment
•Construction starts 2019
200 West GrandAvenue
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 Street Tacos and Blue Collar Coffee
12/12/2018
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IndustrialDevelopment
• Implementation of the North American Phase with over 70rollouts already taken place across the globe
• Program involves the standardization of business processes anddata via a global computer (SAP) System
• One of Kerry’s most significant capital investments everundertaken
• 120 additional staff members and 3rd party consultants
• Program will be headquartered in Beloit with the Kerry ConnectTeam occupying 25,000 SF at the Ironworks Complex
(SAP)= System, Applications, Products
Kerry GroupKerry Connect Program
12/12/2018
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Recently gained approval from the USDA to produce radioisotopes intheir RadioGenix System
Radioisotopes are used in 10 Million medical diagnostic procedures ayear in the US
Construction on Phase II including a 20,000 SF 50% complete
$9 Million Investment (building only)
NorthStar Medical Radioisotopes
A 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
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Alliant Energy proposednatural gas-fueledgenerating station-Town of Beloit RiversideEnergy Center 730 Megawatt $700 Million investment60% CompleteCurrent onsite labor forceover 700Fully Operational by early2020
Riverside EnergyCenter
New 18,000 SF Engine Paint Shop
New Security Center
$2,750,000 Investment
Fairbanks Morse
12/12/2018
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LCS 29 TO BE NAMED USSBELOIT
Graphic provided by the U.S. Navy
This graphic illustration shows the future Independence-variant littoral combat ship USS Beloit. The new ship wasannounced October 9th by U.S. Sen. Tammy Baldwin, D-Wis.,and recognizes a partnership between Fairbanks Morse inBeloit 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
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COMMERCIAL/RETAIL ACTIVITY
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Casey’s GeneralStore
Town of Beloit
• 4,700SF
• Corner of PrairieAvenue and InmanParkway
• Opened November 9th
12/12/2018
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G5 Brewing Company
Craft micro brewery- restaurant/bar/beer garden
50-70 full and part-time employees
9,750 SF facility
$2.8 Million Investment
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 Hospitality
12/12/2018
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Beloit Hotel Group LLC
Hilton Home 2
(Extended Stay Hotel)
102 Rooms/64K SF
Adjacent to Hampton Inn
(Cranston/Milwaukee Road)
$11,200,000 Investment
Out lot DevelopmentOpportunities
Open
Other Notable Commercial Projects
Bryden Quick Lube
Cornerstone Credit Union SouthBeloit
The Rock Bar and Grill -OutdoorVenue Amenities
12/12/2018
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ResidentialDevelopment
Town of Beloit Residential DevelopmentBlackhawk Run• Single family and duplex mix
• 3 units under construction• 50 available
Courtney Condos• Duplex condos
• 5 buildings constructed• 6-14 expected in 2019
Glen Hills• Plat approved• Infrastructure and home construction to
begin spring• 36 single-family lots
River Bay Estates• Mix of single and multi-family units
• 1 under construction• 25 available
12/12/2018
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Single Family
Eagles Ridge Subdivision (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 Driveon 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 Estate Condos
12/12/2018
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1 new building
58 units
$11.4M Assessed Value
Construction underway
Construction of a 7th building being considered
Hawk’s Ridge Apartments
Major InfrastructureProjects
12/12/2018
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Funded and underconstruction
Project being advanced by1 year
Most local work will takeplace 2019-2021
Complete by 2021including new interchange
I-39/90Expansion
Town Hall Road Reconstruction
Townhall Road fromGateway Blvd going southto near the railroad tracks
Complete reconstruction New pavement & base Curb & gutter Ditches & sidewalk Lighting
Re-pavement from railroadtracks to curve
Construction complete
12/12/2018
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Gateway Water Extension
Creates loop/resiliency in system Prepares the Dougan Meadows site
for future single-family residential
South Beloit Wastewater Treatment Plant
June 2018Groundbreaking
$34.7 Million
20% Complete
Operational 2020
12/12/2018
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STRATEGICINITIATIVES
Gateway Housing Master Planning and Marketing
- 15 acres Multi-Family- Master Plan prepared- Request for Proposals issued- 1 proposal Forward Construction Group, LLC
12/12/2018
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Concept Plan
Vision Beloit
Vision Beloit Partners gave up space at 500 Public Ave. tosupport space needs for the Hotel Goodwin Project.
Currently exploring several options for reestablish new VisionBeloit offices
• Existing facilities
• Existing with additions
• New build
12/12/2018
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ECONOMICINDICATORS
12/12/2018
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Unemployment for the City of BeloitMonth/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
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Questions/Comments?!