Post on 19-Jun-2015
description
elgindevelopment.com
ELGIN CITY COUNCIL
Economic Development UpdateJune 27, 2012
Michael Shales, Shales McNutt ConstructionBoard Chair, Elgin Area Chamber
Carol Gieske, President, Elgin Area Chamber
elgindevelopment.com
HIGHLIGHTS
American NTN Bearing Manufacturing Corp. Expansion
NTN began its seventh expansion this year since coming to Elgin in 1975. The new project will add 75,000 s.f. to the
130,000 s.f. Holmes Road facility which opened in November, 2010. The new addition is expected to be finished by November. NTN employs nearly 600
people and plans to add several more employees in the next 12 months.
elgindevelopment.com
HIGHLIGHTS
Pancor: 160,000 sf Spec Building Development
PanCor, taking advantage of a special non-cash incentive program developed by the
EDG and City, is constructing a 160,000 s.f. modern industrial building on
Madeline Lane. The $10 million project is scheduled to be completed in August
and 50,000 s.f. of it has already been leased to an
Elgin company interested in expanding their operations.
elgindevelopment.com
HIGHLIGHTS
Elgin was chosen over two other communities as the new headquarters location for the 44 year-old firm
Oakbrook
St. Charles
ELGIN
Mueller and Company began operations in 1968 as a small Elgin CPA firm. Since then, Mueller has grown into the 20th largest accounting firm in the Chicago area with offices in Elgin, St. Charles, Oakbrook Terrace, and Chicago. The firm has chosen to consolidate its St. Charles office into its Elgin office. The move required Mueller to seek additional space and allow room for expansion. The Sanfillippo Building meets Mueller’s space requirements and provides them with visibility from I-90. Twenty-three positions will be added to the Elgin office, bringing the total employee count to approximately 80. The $1 million office build-out is scheduled to be completed in November. The project is estimated to have an annualized economic benefit of $11.8 million.
elgindevelopment.com
HIGHLIGHTS
Bystronic North American Headquarters Grand Opening
Switzerland-based Bystronic celebrated the official grand opening of its new North American Headquarters in early May. Approximately, 550 people attended the multi-day event, including civic leaders, Bystronic customers, suppliers, friends, and family, and representatives from industry trade associations. Bystronic’s new 48,300 s.f. build-to-suit facility includes a 14,000 s.f. equipment show room as well as space devoted to training, spare parts, and logistics. The new building on Airport Road is the marketing, sales, and training headquarters for North America. Total investment in the project is nearly $20 million. The new headquarters is on track to generate 1,500 – 2,000 hotel room nights this year. The Swiss company is a leading supplier of high quality laser cutting and water jet cutting systems.
elgindevelopment.com
HIGHLIGHTS
Senator Durbin Visit
Switzerland-based Bystronic celebrated the official grand opening of its new North American Headquarters in early May. Approximately, 550 people attended the multi-day event, including civic leaders, Bystronic customers, suppliers, friends, and family, and representatives from industry trade associations. Bystronic’s new 48,300 s.f. build-to-suit facility includes a 14,000 s.f. equipment show room as well as space devoted to training, spare parts, and logistics. The new building on Airport Road is the marketing, sales, and training headquarters for North America. Total investment in the project is nearly $20 million. The new headquarters is on track to generate 1,500 – 2,000 hotel room nights this year. The Swiss company is a leading supplier of high quality laser cutting and water jet cutting systems.
elgindevelopment.com
HIGHLIGHTS
EDG Website : elgindevelopment.com
EDG’s website went live earlier this year. Websites
have become the most significant economic
development marketing tool for influencing site selectors, brokers, and corporate real
estate decision makers. Given the importance of
foreign direct investment to Elgin, sections of the website
have been translated in German, French, Japanese,
and Mandarin
elgindevelopment.com
HIGHLIGHTS
Manufacturers’ Roundtable
“Helping You Find a Skilled Workforce” was the focus of a May manufacturers’ roundtable hosted
by EDG and Elgin Community College. Dr. Jeff Boyd, Dean of
Sustainability, Safety, and Career Technologies provided an overview of ECC’s advanced manufacturing training opportunities to our local
employers who had limited knowledge of the depth of skill-
building opportunities at ECC. The event also featured a tour of the
recently renovated Industrial Training Center lead by Chris Sikora, Professor of Computer Automated
Design and Manufacturing.
elgindevelopment.com
HIGHLIGHTS
Business Recruitment and Retention
Local prospects - 37 projects
Statewide prospects - 12 projects
With its transportation infrastructure, convenient access to North American markets, workforce,
lower operating costs and proximity to Chicago, Elgin is a preferred location for many companies.
So far this year, EDG has worked with 37 companies who have expressed an interest in expanding or locating in Elgin. The EDG also
provided information to area brokers and developers regarding 12 DECEO statewide search
projects.
elgindevelopment.com
Connecting Businesses Worldwide
The Elgin Development Group (EDG), a division of the Elgin Area Chamber, was formed in 2010 to strengthen the vital role of
economic development for the City of Elgin. The EDG is a unique and historic public-private partnership consisting of the City, the Elgin
Area Chamber and Downtown Neighborhood Association. Funding for the economic development partnership is provided by fees from
the City’s business licensing program which was adopted with Chamber Support.
Contact us at info@elgindevelopment.com to learn more about doing business in Elgin.