Presentation to Rotary Club of BeloitNovember 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

• Uploaded to website• Print copies

available

Marketing Kit Complete

New real estate signs have been produced and

installed

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)

September Real Estate Broker & Developer Open House

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

City Center(Downtown)

ECONOMIC DEVELOPMENT ACTIVITY

Phoenix Project

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

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

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

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

Beloit Inn Renovation(Ironworks Hotel)

Location: 655 Third St.

$38 million renovation YMCA may relocate to

the south end In August the Board of

Appeals approved flood plain variance

Ironworks Redevelopment

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

Universal AETManufacturer of Acoustic, Emission, and

Filtration Systems

New gas station and convenience store at corner of Broad Street and Park Avenue

New 2,230 square foot building $1,200,000 Investment

Clark Station

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 1st 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

Milwaukee Road(Highway Service)

ECONOMIC DEVELOPMENT ACTIVITY

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

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

December 2013

Beloit Health System Cancer Center

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

Qdoba Mexican Grill

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

McBain Enterprises Strip Center Development

Industrial Development

ECONOMIC DEVELOPMENT ACTIVITY

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

DuPont (Genencor) Expansion

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

Beloit Precision

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

CCI/Blackhawk Transport H.Q. Project

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.

General Commercial Developments

(City-Wide)

ECONOMIC DEVELOPMENT ACTIVITY

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

Woodman’s Markets

Corner of Cranston and Shopiere

4,353 Square Feet $2 Million Investment Project approved and

permits issued Ground was broken

on October 18, 2013

Casey’s General Store

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

Piggly Wiggly

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

Cherry Tree Assisted Living

• 4 acre development• Project will create 60

new jobs• $5,000,000 private

investment• Still pending approval

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

Associated Bank

BUSINESS RETENTION AND

EXPANSION ACTIVITIESROCK 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

Program – Rock County

Business Retention & Expansion

Increasing Market Share of Company’s Key Products

2009 to Sept., 2012

Sept. 2012 to present

Business Retention & Expansion

Companies planning to launch new products.

2009 to Sept., 2012

Sept., 2012 to present

Business Retention & Expansion

Companies with expansion plans

2009 to Sept., 2012

Sept., 2012 to present

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

Number of Jobs

New Square Feet Value

Total 356 314,160 $219,967,000

Number of Jobs

New Square

Feet Value

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

Summary of Economic Development Activity Since 1999

Summary of Current Economic Development Activity