[PDF] - Featured Economic Development Project 2 1 12/15/2017 NEW PDF Document

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12/15/2017 1

Greater Beloit Community & Economic Development Update

December 13, 2017 GBEDC Annual Investors Meeting

Featured Economic Development Project

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12/15/2017 2 NEW Operations Center

525 Third Street, Suite 300 | IronWorks Campus

Summer 2018

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22,000 sq/ft

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90-95 employees

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$4.5 million

City Center/Redevelopment Activity

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12/15/2017 3

Hotel Goodwin

419 Pleasant Street
34 Room Boutique Hotel
Velvet Buffalo Café
Rooftop Meeting Space
35,000 SF Renovation
$5.2 Million Project
Summer 2018 - Completion

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Vision Beloit Office Renovation - 10 year lease extension

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12/15/2017 4

The Power of the Powerhouse Beloit College’s New Campus Activity Center

Planning and fundraising phases complete
Official demo/building phase began June 9th
$38 Million Dollar Project
Complete by 2019

Continued Redevelopment of the Ironworks

Stateline Family YMCA - Open
First National Bank & Trust -

Operations Center Expansion

Golf Lab – Open
CareerTek – Open
Planned Irontek Expansion – 8,000 SF
Several Pending Project Announcements
Received Real Estate Redevelopment Award from WEDA

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12/15/2017 5

Ironworks Pedestrian Bridge and Ken Hendricks Plaza

Span between Ironworks Campus and Ironworks Hotel/Heritage View
HCP designed, built and funded $1.2M Project
HCP will dedicate the structure to the City of Beloit

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228’ Long Single Warren Truss Span

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12/15/2017 6

CELEB

(Center for Entrepreneurship in Liberal Education Beloit)

Complete renovation/modernization
Houston Building 437 East Grand
Hulburt Building 439 East Grand
Roof Replacement/New skylights
Façade renovations including window replacements
Renovation of 6,000 SF into a new maker space

(innovation design and prototyping)

Expansion of Gallery ABBA
High-tech pitch space – think “Shark Tank”
New elevator

State Collection Services

Relocation and expansion to Eclipse Center
42,000 SF in-bound and out-bound call center
Adding 250 new positions over next 3 years (500+/- total)
$1.9M Investment

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12/15/2017 7

Industrial Development Pratt Industries

Off-site expansion
43,000 SF
4732 Prairie Hill

Road – South Beloit

Warehousing for

material

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12/15/2017 8

Riverside Energy Center

Alliant Energy proposed natural gas-fueled generating station-

Town of Beloit Riverside Energy Center

700 Megawatt
$750 Million investment
200-300 Construction jobs
ver 2 years
Additional long-term
perational positions
Steel erection underway
Fully operational early 2019 or

2020

HENDRICKS COMMERCIAL PROPERTIES SPEC BUILDING PROJECT PHASE II

(State Line Industrial Park)

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12/15/2017 9

PHASE I (Leased)
Initial 105,000 SF building
Fully Operational
PHASE II (Adjacent to Willowbrook Road)
105,000 SF building construction to begin Spring 2018
$6 million capital investment
PHASE III and Beyond
Addition of up to 210,000 SF of building space
$12 million in additional private capital investment

STAPLES ORDER FULLFILLMENT CENTER OFF-SITE EXPANSION

Leasing 142,000 square feet at One

Reynolds Drive (former Alcoa Building)

Expansion of warehouse/distribution

capacity- (large office furniture items)

Long-term lease
8 Jobs
One Reynolds Drive nearly 100%
ccupied

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12/15/2017 10

TRU ASEPTICS INGREDIENTS

New start-up food processing

company Purchased former ADM/Wild Aseptics Building at 2924 Wyetta Drive

Will produce aseptic juices and

ingredients

$9.4 million dollar project
Create 40+ new jobs
GBEDC provided a $100,000 loan

to support the project

Westran Thermal Processing

483 Gardner Street- South Beloit
Produces custom ovens for thermo processing applications
37 employees

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12/15/2017 11

COMMERCIAL/RETAIL ACTIVITY

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G5 Brewing Company

Craft micro brewery-restaurant/bar/beer garden
Employ 50-70 full and part-time workers
9,750 square foot facility
Closed on Gateway site on March 3rd
Construction underway
Spring opening

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12/15/2017 12

Proposed Holiday Inn Express
6 story hotel/84K SF
124 rooms
3022 Ford Street (former Wickes Lumber site)
Outlot Development Opportunities
Spring Construction

KDN Hospitality Beloit Hotel Group LLC

Hilton Home 2 (Extended Stay Hotel)
102 Rooms/64K SF
Adjacent to the Hampton Inn

(Cranston/Milwaukee Road)

Outlot Development Opportunities
Under construction

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12/15/2017 13

Dunkin Donuts
Firehouse Subs

Milwaukee Corridor Retail

2787 Milwaukee Rd.

Beloit Wal-Mart Supercenter

Complete interior/exterior renovation
$700,000+

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12/15/2017 14

Residential Development

Willowick Assisted Living Elderly Care Facility

Assisted Living
1971 Cranston Road
13,750 SF
$2M Investment
26 Beds
Construction Complete

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12/15/2017 15

Single Family

Eagles Ridge Subdivision (Gateway)

Building permits for new homes (and

sales) increasing since great recession

Raven Court Complete – 6 Lots
New home values range from

$154,000 to $206,000

Construction on the Phase III (22

Lots) expected to begin spring 2018

Hawk’s Ridge Apartments

1 new building
58 units
$11.4M Assessed Value
Construction underway

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Kadlec Condos

4 Building
18 Units (Multi-Family)
28,500 SF
Under Construction

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Major Infrastructure Projects

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12/15/2017 17

Town Hall Substati tation

Rock County Cooperative

Infrastructure Upgrade

Colley Road Town Hall

intersection

10 MVA Capacity
$2,000,000 Investment
Site work complete
Energized by end of year
Station will support expansion
f Gateway Business Park

Town Hall Road Reconstr truc ucti tion

Gateway Blvd (N) to UP Rail Road (S)
Complete Reconstruction
Curb/Gutter
Surface
Lighting
Construction start Spring 2018

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12/15/2017 18

I-39/90 Expansion

Funded and under construction!

(Work through December restart Spring)

Complete 2022?

35

Strategic Initiatives

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12/15/2017 19

Retail Leakage Analysis - Complete

Nature at the Confluence

Dedicated June 15th
GBEDC supported through the 2013 Connections Plan

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12/15/2017 20

Beloit Casino Project

Project back on track
2 lobbying trips to

Washington

Anticipate publication

in the Federal Register first quarter - 2018

Public hearing second

quarter - 2018

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BMHS Master Plan- Phase I Welcome Center Approved

$5.5 Million Dollar Project
Construction scheduled to be completed by 12/1/18

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12/15/2017 21

Rock County Entrepreneurial Business Development Program

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Metrics

Workforce Development

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Community Concierge Program

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Provides a link between employers looking to hire professionals and prospects looking for employment and a community to live. Customized services include:

Community Tours
Neighborhood and Home previews
School Tours
Community Orientations
Meet & Greets

Funded into 2018

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2017 Data & Statistics gathered by Maggie Littlefield

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12/15/2017 24

Anaerobic Digester Project Feasibility Study Transform bio-waste into bio-gas

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Marketing Activity

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12/15/2017 25

Marketing Print Campaign targeting Chicago Market continues…

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Chicago Industrial Properties
Stateline Business Journal

Replacement and installation of new Gateway Real Estate Marketing Signs

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Cost shared between City (TID#10) and GBEDC

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12/15/2017 26

Earned Media

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Badger Institute Magazine MSNBC Internet Video Clip

GBEDC Programming Updates

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12/15/2017 27

RLF Update

Loan Portfolio Update
3 loans active
$128,393 lent out
Funds Available
$67,530.84

Investors Update

Paid Investors YTD: 74
New Investors YTD: 3
Budgeted Income: $70,000
Income YTD: $74,446.43

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12/15/2017 28

Business Retention and Expansion Program

279 Interviews

in Rock County conducted to date

Economic Indicators

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12/15/2017 29

57

Unemployment for the City of Beloit

Month/Year Rate Rank October 2016 4.9% 3 November 2016 4.6% 5 December 2016 4.4% 6 January 2017 5.6% 31 February 2017 6.2% 31 March 2017 5.7% 32 April 2017 4.8% 32 May 2017 4.7% 32 June 2017 5.2% 31 July 2017 4.6% 30 August 2017 5.1% 30 September 2017 3.9% 29 October 2017 3.6% 29

*Source: Wisconsin Department of Workforce Development, Bureau of Workforce Training – Labor Market Information Section

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12/15/2017 30

Economic Development Activity

Number of Jobs New Square Feet Value Total

332 361,899 $894,613,400

Number of Jobs New Square Feet Value Total

3,921 4,701,303 $1,575,641,595

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

Questions/Comments? Thank you!

http://www.msnbc.com/your- business/watch/beloit-wi-transforms-its- main-street-1093081155967