Presentation to Rotary Club of Beloit November 26, 2013

Larry N. Arft, City Manager 608-364-6614

UPDATE ON RECENT ECONOMIC DEVELOPMENT ACTIVITY: On-Going and New Projects

Slides provided by Greater Beloit Economic Development Corporation

Gateway Business Park Marketing Update

Marketing Kit Complete

• Uploaded to website • Print copies available

New real estate signs have been produced and installed

September Real Estate Broker & Developer Open House

September Real Estate Broker & Developer Open House

  70+ Attendees  Attorneys, Accountants, Architects, Appraisers, Bankers, Brokers, Contractors, Developers, Engineers, Lawyers, etc.

Highlights  Development Team, Trends & Opportunities  Brokerage Agreements included in packets  New RE & Development Video (RC is Ready, Are You?)  Follow-Up & Preparation for O’Hare/Chicago Event (’14)

Print Ad Campaign

 Targeted to the Chicago Market  Chicago Industrial Properties  Midwest Real Estate News  6 Month Campaign  Print  Website Banner E-Blasts

UPDATE ON RECENT ECONOMIC DEVELOPMENT ACTIVITY:

On-Going and New Projects

ECONOMIC DEVELOPMENT ACTIVITY

City Center (Downtown)

    

Phoenix Project

Hendricks Commercial Properties (Hendricks) purchased the site in December 2011 A public-private partnership will physically and economically transform the 400 block of East Grand Avenue Hendricks is constructing a new, four story, 40,000 sq. ft. building on the site  Three stories of residential  Street level to be retail/service businesses Completion scheduled for the fall Negotiating with several qualified tenants Photo source: Beloit Daily News

First National Bank & Trust Annex Building

    1,500 Sq. Ft. addition 2,000 Sq. Ft. renovation $800,000 investment Completion by the end of the year

Beloit Inn Renovation (Ironworks Hotel)

 Project Includes:  Remodeled exterior and interior, including rooms, conference center and common areas  New registration desk  New covered entry way  Total renovation cost $3,800,000

Ironworks Redevelopment

    Location: 655 Third St.

$38 million renovation YMCA may relocate to the south end In August the Board of Appeals approved flood plain variance

Universal AET

Manufacturer of Acoustic, Emission, and Filtration Systems       Has been leasing 30,000 square feet at the Ironworks Recently leased an additional 106,000 square feet May lease an additional 67,000 square feet 12 year lease Create up to 50 jobs $3,000,000 Investment

Clark Station

   New gas station and convenience store at corner of Broad Street and Park Avenue New 2,230 square foot building $1,200,000 Investment

Former KFC at SE corner of Broad Street and Park Ave.

 Developer has taken out a Conditional Use Permit to open a Domino’s pizza franchise at this location.

• • • • • •

The Castle at 501 Prospect

Wittnebel Family purchased the former 1 st Presbyterian Church Street in November 2012 Renovation work underway Gift shop/box office open this year Music classes begin soon Root Cellar Café open by the end of the year Bell Tower Lounge and Reception (Banquet) Hall open in 2014

ECONOMIC DEVELOPMENT ACTIVITY

Milwaukee Road (Highway Service)

U.S. Cellular Corporate Retail Store

   U.S. Cellular Corporate retail store under construction at corner of Milwaukee Road and Freeman Parkway (former BP gas station) 3,000 square feet Completed by end of the year

Beloit Health System Cancer Center

   18,000 square feet $11.6 Million investment Construction scheduled to be complete by December 2013

Qdoba Mexican Grill

    New strip center at Cranston and Milwaukee Roads Total of 5,700 square feet Qdoba Mexican Grill will occupy 2,500 square feet Balance of square footage will be occupied by a yet to be determined tenant

McBain Enterprises Strip Center Development

     2850 Milwaukee Road New 9,000 square foot strip center Arby’s will occupy 3,000 square feet of the center The existing Arby’s will be renovated to accommodate a new tenant $1,800,000 investment

ECONOMIC DEVELOPMENT ACTIVITY

Industrial Development

DuPont (Genencor) Expansion

       Expansion of production capacity Adding 128,500 square feet $30M in Capital Investment Created 3 new jobs GBEDC closed on $100,000 loan to support the project Wisconsin Department of Commerce providing tax credit allocation Two phase project  Phase II- to be completed by the end of the year

Beloit Precision

     Has an accepted offer to purchase a 3.4 acre site from the City of Beloit.

The site is immediately adjacent to their Beloit I-90 Industrial Park site Plan to begin construction on a new 18,000 square foot production facility this fall Project will create 3-4 jobs Site will accommodate future expansions

CCI/Blackhawk Transport H.Q. Project

    New H.Q. building for both businesses To be located on Townhall Road (East of Gateway) 2 Story 16,000 square foot office building $1,760,000 construction cost

   Medical Radioisotopes Long term plan to develop a production facility in The Gateway Business Park that utilizes linear accelerators to produce isotopes used in diagnostic medical imaging Company is currently looking for an interim facility for office/warehouse.

Project continues to evolve and more details will be provided as they become available .

ECONOMIC DEVELOPMENT ACTIVITY

General Commercial Developments (City-Wide)

Woodman’s Markets

     Warehouse expansion 21,546 square foot addition Project includes a new gas station, car wash and convenience store Construction expected to be completed in 2014 $3,5000,000 Investment

Casey’s General Store

     Corner of Cranston and Shopiere 4,353 Square Feet $2 Million Investment Project approved and permits issued Ground was broken on October 18, 2013

Piggly Wiggly

      Will occupy 50,000 SF of the 84,000 SF former K-Mart building Tenant space has been created $4 Million in private investment Over 100 jobs Pioneer Construction of Wisconsin was selected contractor in early September Permits have been issued and construction is underway

  

Cherry Tree Assisted Living

72 total units located between Schuster Drive and Cranston Road 48 Residential Care Units 24 units will be in a Community Based Residential Facility with a Memory Care Center • 4 acre development • Project will create 60 new jobs • • $5,000,000 private investment Still pending approval

    

Associated Bank

Expanding and constructing a new building 3,831 square feet Out lot at the north end of the Eclipse Center Construction began in August, 2013 $2,600,000 investment

BUSINESS RETENTION AND EXPANSION ACTIVITIES ROCK COUNTY

Business Retention & Expansion Program – Rock County

    159 total visits 132 Original (1 time) visit 27 Repeat visits Survey Says……(since March ’12 Report)  Increased Mergers, Acquisitions & Divestiture Activities  Increased Market Share  Slight decrease in New Product & Expansion Plans  Workforce Recruitment Challenges both increased and decreased

Business Retention & Expansion

2009 to Sept., 2012 Sept. 2012 to present Increasing Market Share of Company’s Key Products

Business Retention & Expansion

2009 to Sept., 2012 Sept., 2012 to present Companies planning to launch new products.

Business Retention & Expansion

2009 to Sept., 2012 Sept., 2012 to present Companies with expansion plans

EDUCATION/WORKFORCE DEVELOPMENT INITIATIVES

       Mock Interview Program Reality Store Business Education Summit Support Challenge Day Inspire Rock County - “Live” System (October 2013)  54 Company Profiles Registered  59 Career Coaches Identified   125 Work-Based Learning Activities Catalogued 200+ K-16 Personnel Trained  All RC Districts & Higher Education Engaged Work Today Program

Economic Development Activity Summary of Current Economic Development Activity Total Number of Jobs

356

New Square Feet

314,160

Value

$219,967,000

Summary of Economic Development Activity Since 1999 Number of Jobs New Square Feet Value Total

3,670 3,969,695 $1,393,641,712