GBEDC INVESTORS...programs: Craftspeople with Character, Rock Internship, and Blackhawk Makers and Scholars. Strategic Planning Committee Jerry Klobucar, Chair 2018 was another exciting

Greater Beloit Economic Development Corporation

ANNUAL REPORT

2018

ABC Catalog Division

ABC Supply Co., Inc.

AccuLynx

Advia Credit Union

Avid Pallet

Alliance Development Corp.

Alliant Energy

Allied Games, McBain Enterprises

Amcraft Building Products

American Aluminum Extrusion Company

American Construction Metals

Angus Young Associates

Ayres Excavating

Axium Foods/McCleary

Beloit Box Board Co.

Beloit College

Beloit Daily News

Beloit Health System

Beloit Hotel Group

Beloit Professional Baseball

Beloit Property Managers Association

Beloit Special Machining

Blackhawk Bank

Blackhawk Technical College

Blackhawk Transport & Logistics

BMO Harris Bank

Brabazon Title

Brian Mark Funeral Homes

Bud Weiser Motors

Central Christian Church

Chicago Fittings

City of Beloit

City of South Beloit

Coldwell Banker Commercial/McGuire Mears

Comply365

Commercial Property Group

Community Health System

Corporate Contractors

Culvers and The Rock

DuPont

Edward Jones

Electrol Specialties Company

Fairbanks Morse Engine

Finley Buick GMC

First National Bank & Trust

For HIM, Inc. (Homes thru Financial Freedom)

Frito Lay

Gateway Community Bank

Geronimo Hospitality Group

Gilbank Construction

Greater Beloit Chamber of Commerce

Harris Ace Hardware

Hendricks Commercial Properties

Hendricks Holding Company, Inc.

Henry Technologies

Ho-Chunk Nation

Hormel Foods

Johnson Bank

J.P. Cullen & Sons

Kerry

Klobucar Construction

Mid States Concrete

Mule-Hide Products

Nowlan & Mouat

North American Tool

NorthStar Medical Radioisotopes

Pratt (Beloit Corrugating)

R. H. Batterman & Co.

Regal, Durst

Rick Barder

River’s Edge Foundry

Rock Energy Cooperative

School District of Beloit

School District of Beloit Turner

Seven Waters

Shorewest Realtors- MGP Real Estate

Siepert & Co.

Snyder’s Lance, Kettle Brands

Southwest Wis. Workforce Development Board

Stainless Tank & Equipment

Stan’s LPS Midwest Stateline Copy Products

Stateline Boys & Girls Club

Stateline Community Foundation

Stateline Family YMCA

Summit Machine Works

The Morse Group

Toledo Molding & Die

Town of Beloit

Tricor Insurance

Visit Beloit

Welders Supply Company

Western Container

GBEDC INVESTORS

Greater Beloit Economic Development Corporation

100 State Street | Beloit, WI 53511608.364.6748

[email protected]

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As 2018 comes to a close, we can celebrate another productive year for the Greater Beloit Area as economic growth, new opportunities, and new and sustained partnerships continue to drive results. These partnerships include the private sector working in collaboration with the local governments, and volunteers, in a relentless effort to continue adding upon the many successes we have shared. We remain optimistic as we look ahead to 2019 with projects already in the works, projects on the horizon, and those we know will present themselves in the coming year.

It only takes a glance at the surrounding area to see new and renovated buildings, companies that have chosen to make the Greater Beloit Area their home, and a buzz of anticipation for what is next to come. It takes a great deal of teamwork and willing partners to create, and take advantage of opportunities like we have experienced in 2018.

None of this would be possible without the dedicated work of the entire community, but I would like to point out the following organizations as being instrumental in our success: The Greater Beloit Chamber of Commerce, Visit Beloit, The Downtown Beloit Association, Beloit 2020, and, of course, Rock County 5.0 and all those who are involved from a county level, in particular James Otterstein from Rock County.

Thank you for allowing me to serve as Board Chair of the Greater Beloit Economic Development Corporation for 2018; it has been my distinct privilege. Lastly, I would like to personally thank Andrew Janke and Stephanie Bailey for their tireless efforts, dedicated service, and persistent, positive approach to all they do. Join me in celebrating our shared successes in 2018, and remain determined to make 2019 even better.

Brian

Brian Anderson 2018 Board Chair

DEAR FELLOW INVESTORS Brian Anderson, 2018 Board Chair

STAFF MEMBERS

Andrew Janke Executive Director

Stephanie Bailey Administrative Assistant

Keith Kruse (Immediate Past Chair), Todd James (Secretary/Treasurer), Tom Finley (Loan & Finance Committee Chair), Bill Lock (Investment/Recruitment Committee Chair), Aimee Thurner (Ex-Officio), Jerry Klobucar (Strategic Planning Committee Chair), Lori Luther (Local Government Jurisdiction), Brian Anderson (Board Chair), Ted Rehl (At-Large Rep.).

EXECUTIVE COMMITTEE MEMBERS

Vision StatementWe will be a broad-based, public/private partnership that creates a common focus for economic development activities in Greater Beloit.

Mission StatementThe mission of the Greater Beloit Economic Development Corporation (GBEDC) is to act as the primary organization coordinating, facilitating and implementing economic development activities in the Greater Beloit area.

Greater Beloit Economic Development Corporation | 100 State Street | Beloit, WI 53511 | 608.364.6748 | [email protected] | www.greaterbeloitworks.com

* Year-to-date as of 9/30/18

2018 Actual* $132,512

2019 Proposed $148,300

REVENUES

Investor Dues Crop Lease

Rental Income Other

2018 FINANCIALSBALANCE SHEET(As of September 30, 2018)

ASSETS—CURRENTChecking/Savings Blackhawk Bank Escrow ........................................15,485.52 CD #2 ..........................................................................................................................50,906.62 Checking #2—BMO .....................................................................57,776.65 Money Market—BMO ...................................................103,073.34Total Checking & Savings ...........................................227,242.13Accounts Receivable Accounts Receivable ...........................................................2,349.00 Total Accounts Receivable .................................2,349.00Other Current Assets Prepaid Insurance ................................................................................ 960.37 Total Other Current Assets .......................... 960.37

Total Current Assets ...............................................$230,551.50

ASSETS—FIXED520 E. Grand—Office Equipment..........................6,612.74Accumulated Depreciation ...............................(165,657.32)Building Improvements— 520 E. Grand (at cost) ....................................197,268.00Building—520 E. Grand (at cost) ............140,000.00Computers & Related Items .......................................6,185.96Land—520 E. Grand (at cost).................................25,000.00Land—Gateway .................................................................................3,061,297.56Software....................................................................................................................20,000.00Vision Beloit—Office Furniture ........................7,175.48Total Fixed Assets ...............................................$3,297,882.42TOTAL ASSETS .................................................................$3,528,433.92

LIABILITIES & EQUITYCurrent Other Liabilities Accrued Income Taxes ....................................................5,896.00Total Current Other Liabilities...........................5,896.00Long-Term Liabilities N/P—City of Beloit .........................................................................4,575.00 N/P—FNB ................................................................................................................97,223.55Total Long-Term Liabilities ......................... 101,798.55

Total Liabilities ..........................................................................$107,694.55Equity Retained Earnings ...........................................................3,357,542.11 Net Income .....................................................................................................63,197.26

Total Equity ...............................................................................$3,420,739.37TOTAL LIABILITIES & EQUITY ..........................................................................................$3,528,433.92

* Year-to-date as of 9/30/18

2018 Actual* $70,224

2019 Proposed $166,305

EXPENSES

Administrative & General Staff Advertising & Marketing

Special Projects Business/Ed Initiatives Other

3


funds, the ever-evolving and challenging CDBG HUD regulations, recent increased risk exposure, and the fact that the fund balance had fallen below $31,000, it was time to suspend the program.

As the Committee will not be considering any future applications nor administering the fund going forward, it has decided to re-brand itself as the Finance and Audit Committee. To reflect this new role, the Committee is recommending a series of Bylaws amendments for the Board’s consideration at its 2018 Annual Investors meeting. Assuming these recommendations are accepted, the Committee will focus in the future on budget development, engaging and conducting the annual budget, and reviewing and updating the organization’s financial policies.

Business & Education Partnership Committee Rob Hendrickson & Anthony Bonds, Co-Chairs

Our Committee continues to look for ways to build strong partnerships between the private sector and local educators. We have been working to identify all of our Greater Beloit Area Talent Pipelines in order to ensure efficiency as well as identify gaps that need attention. We’ve grown as a committee over the past several months adding representatives from Hendricks CareerTek, School District of South Beloit, and Beloit Turner School District. Shown below are some examples of student engagement over the past year:

• Planned and executed a Reality Store event at Beloit Memorial High School in May. This financial literacy initiative featured local businesses interacting with students. While the store featured local business support we will be collaborating with Beloit Turner for the 2019 school year to limit the burden on businesses while providing the same services.

• The Committee supports the Literacy for Life Program that was introduced in 2018.

• Encouraged businesses to register and use the Inspire Rock County by linking “on-line” with a student that has an interest in the same career field as a business professional.

• The Mock Interview Program has changed its name to the Practice Interview Program. This program is for all Juniors at Beloit Memorial High School regarding interview preparation, resume building, and a practice interview with a local business professional.

• Planning discussions have begun for a 2019 Business Education Summit.

• Introduced community leaders to PENCIL: Public Education Needs Community Involvement and Leadership. This program is a non-profit out of Nashville, TN and may have replication possibilities in the Greater Beloit Area.

• Worked closely with Blackhawk Technical College, Hendricks CareerTek and Southern Wisconsin Workforce Development Board to form partnerships with local business so students can obtain on the job training opportunities in the following learn and earn programs: Craftspeople with Character, Rock Internship, and Blackhawk Makers and Scholars.

Strategic Planning Committee Jerry Klobucar, Chair

2018 was another exciting year for the Greater Beloit Area. It’s refreshing to see so much activity and development. At the strategic planning level, we continue to evaluate and make adjustments to our strategic plan.

Just as the Beloit and surrounding area is changing, so must our strategic plan. So, in the upcoming year, the committee will continue to make refinements and will likely begin the process to develop an entirely new plan as our existing plan is due to retire at the end of 2019.

With so much recent success we also face the challenge of having an adequate land to offer to potential businesses. Expanding our access to available land will need to be a strategy that involves all of our municipal partners.

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5

COMMITTEE REPORTS

Business Development Committee John Franks, Chair

The committee continued to build on and carry over opportunities from the previous year as well as undertake several new initiatives.

New Initiatives:• Update of the website and search engine

optimization — a primary and critical marketing tool for Greater Beloit Area for business development. The fresh, new website is now live. This consumed a majority of the committee’s budget this year.

• The committee encouraged a water line extension in the Gateway Business Park to position that area

for future single-family home sites.• The committee voted to solicit bids on building out

15 acres designated for multi-family in Gateway Park. Negotiations are ongoing with one bidder.

• The committee voted to explore the possibility of re-delineating the wetland designation area on the prime rail access property in Gateway Business Park.

Ongoing Activities:• The Anaerobic Digestion Project has had difficulty

getting traction, but the committee still feels the project is worthy of further investigation.

• Made recommendations on roof issue at the Beloit Art Center.

• Provided recommendations on farmland leases for areas in Gateway Park.

In summary, the economic business environment is robust, and we have seen growth beyond Gateway on both sides of the state line.

Loan & Finance Committee Tom Finley, Chair

Earlier in the year we reported that the City of Beloit had notified the Greater Beloit Economic Development Corporation that it would be reallocating the existing loan fund balance and future loan proceeds to other eligible CDBG programs. This, along with lack of demand for the

77Total

Investors

5New

InvestorsAdvia Credit UnionAyres Excavating

Beloit Hotel GroupEdward Jones

Town of Beloit

NEW WEBSITE

Investment Recruitment Committee Bill Lock, Chair


bankruptcy in 2000. The company provides support to the pulp and paper industry and has been located in Machesney Park, IL for many years. The company recently purchased and renovated a 12,000 square foot building at 16200 Woodmint Lane in South Beloit. Along with supporting the pulp and paper industry the South Beloit facility will provide the design and building of fixtures, gages, tooling, and quality machining services to aerospace, food, automotive, and other markets. The company employs 17 people and hopes to grow that number in the near future. The City of South Beloit and School District of South Beloit are currently working to finalize a tax abatement package to support this project.

HCP SPEC BUILDING II/SEAL-RITE DOOR

Seal-Rite Door Seal-Rite Door, which designs and fabricates high-performance, residential doors, is relocating its operations from Illinois to Beloit, where it will open a state-of-the art facility to accommodate its growing business. The company, a subsidiary of Palmer-Donovan Co., will open a 105,000 square foot facility in HCP spec building II, located in the 28 acre Wisconsin Stateline Industrial Park. The company is investing $16 million into the expansion project and will be creating 84 new jobs. The City of Beloit provided the site to HCP for $1.00 and WEDC has awarded Seal-Rite with a $250,000 in state tax credits over the next three years.

Fairbanks Morse (FM) FM is constructing a new 18,000-square-foot facility on their main campus at 701 White Avenue. The new building will house a new diesel engine paint shop. FM also recently completed constructing a new security office as a separate project. Combined the company is investing $2,750,000 into these projects.

Kerry Connect Earlier in the year Kerry Group announced that it would be headquartering its North America Phase of its Kerry Connect Program in Beloit. This is the last of over 70 program rollouts that have already taken place across the globe. The Program involves the standardization of business processes and data via a global computer Systems, Applications, Products (SAP) system. The Program is one of the most significant capital investments that Kerry has ever undertaken. The Kerry Connect Team will be occupying a newly renovated space of approximately 30,000 square feet in the Ironworks complex. Joining this team will be 120 staff and third party consultants who started moving into their new space in September and will be fully phased in through 2019. The program is expected to run into 2021.

NORTHSTAR MEDICAL RADIOISOTOPES

NorthStar Medical Radioisotopes LLC In February NorthStar announced that it had gained approval from the USDA to produce radioisotopes in their RadioGenix System. This is a significant step

(CONT. ON NEXT PAGE)

360New Jobs

23Projects

452,404Square Footage

$896,563,400Total

Investment

7

2018 THE YEAR IN REVIEWAndrew Janke, Executive Director

As we look back on a full and active year we can celebrate another year of diverse and significant economic activity. As I meet

regularly with local companies it is clear the economy is strong in all sectors and companies in the region are healthy and well positioned to meet the future. The one common issue facing all employers, however, is the critical need to retain and attract workers. Clearly, the nation as a whole and the Greater Beloit area are facing a workforce crisis that looks to be the economic development challenge for many years to come. The GBEDC spent a great deal of time and effort in 2018 to meet the workforce challenge head on. New workforce development programs were launched such as the Rock County Internship Program and Craftspeople with Character Program. Both of these programs were so well received that they will be expanded in 2019. As you will learn later in this report much effort has been made by the Business Education Partnership Committee to create greater awareness and efficiencies of the existing workforce development resources that are available to local companies through its Talent Pipeline Program. This program too will be refined and expanded next year.

Despite these challenges, economic activity in the region continues to be robust. As you will see Beloit had an unprecedented year regarding hospitality projects with three new hotel projects either completed or under construction. Also on the hospitality side a significant milestone was made on the Beloit Casino Project that could see that project breaking ground sooner than expected. City Center redevelopment activity remained strong which will leverage new residential and commercial development downtown as well. Manufacturing activity continues to be strong with existing companies expanding and more companies interested in locating here than there is space available. This is evidenced by the fact that in the last two years two 100,000 square foot buildings built on speculation were fully leased before they were even complete.

Even legacy companies such as Fairbanks Morse continue to grow; earning new contracts and adding new capacity to its Beloit facility. We were all thrilled when we learned that due in a large part to Fairbanks Morse’s legacy of producing

engines for the US Navy the next Littoral Combat Ship currently under construction will be named USS Beloit. Clearly having a United States warship named after the city of Beloit is a great honor a great way to round out the year. As they say a rising tide lifts all boats and for Greater Beloit it seems our tide is rising too. Below is just a sampling of some of the years more compelling projects:

Casino Project A significant milestone was reached in November when the U.S. Department of Interior Bureau of Indian Affairs announced that it had published a notice of the availability of a Draft Environmental Impact Statement (EIS) for the Ho-Chunk Nation’s proposal to develop a Casino Project in Beloit. At this time a date was also set to conduct a public hearing on the merits of the EIS which has been set for December 11th at 5:30pm at Aldrich Middle School. Both of these steps are indication of significant progress towards the Nation’s efforts to gain final approval of the Project. The proposed Project will include a casino-hotel resort that will include a convention center, water park, retail and restaurant facilities. The proposed casino-resort would be built on a 33-acre site adjacent to I-39/90 that is owned by the Ho-Chunk Nation. The Project is expected to create thousands of construction jobs and 1,500 full-time jobs. This past June the GBEDC Board of Directors approved a Resolution supporting the Project.

PMP Americas PMP Americas was originally a subsidiary of the Beloit Corporation that was bought by PMP Poland as part of the Beloit Corporation

CASINO PROJECT


forward in the company’s ultimate plans to develop a production facility in Beloit to produce USP Tecnetium-99m that are used in medical imaging procedures. NorthStar completed construction on its initial 50,000 SF facility in 2016 and with this USDA approval announced their plans to build a 20,000 square foot addition. The company expects to have 165 employees on-site by the end of the year with more jobs being added as the company grows. Along with research and engineering, the Beloit facility will serve as a hub for processing, distribution, and recycling of radioisotopes. Construction is fifty percent complete on this $9 million project.

WEST RIVERSIDE ENERGY CENTER

West Riverside Energy Center Alliant Energy’s 730-megawatt, natural gas-fired West Riverside Energy Center in the town of Beloit is making great progress. It is expected to go into service by the end of 2019. The adjacent solar garden will be built starting in early 2020, with operation by the fall of that year. As of early November, the West Riverside Energy Center construction employed more than 700 workers, which included a night shift totaling about 50 workers that started in mid-September. The night shift includes primarily electricians and pipe fitters. More than 1.3 million total work hours have been spent on site, the project engineering is completed and the overall construction is nearly 60 percent finished.

The American Transmission Company (ATC) substation and transmission line needed for the generating station is on schedule for a spring 2019 completion.

In late September into early October, a herd of 80 to 100 goats made their first of several scheduled appearances on a 10-acre plot of Alliant Energy’s town of Beloit property. It’s an environmentally friendly, efficient way to clear weeds from a

wetland and river area where using equipment would be a challenge. It also removes the need to spray weed killer and other harmful chemicals near the Rock River. Once the weeds are removed, which could take roughly a year; the company will start seeding native plants and grasses on the property.

HOTEL GOODWIN AND VELVET BUFFALO CAFÉ

Hotel Goodwin and Velvet Buffalo Café Hendricks Commercial Properties (HCP) announced in November 2017 that it was planning on renovating 419 Pleasant Street into a new 34 room boutique hotel to be named the Hotel Goodwin. This new downtown destination includes a new restaurant named the Velvet Buffalo Café that provides a ground level main dining room, in-room dining seven days a week and catered events in the rooftop meeting space. This $5.2 million dollar project involved the renovation of 35,000 square feet on three floors of this historic landmark building. The project created 40 construction jobs over an 8 month period and 20 new permanent hospitality jobs. Construction is complete and the hotel and restaurant opened in September. The City of Beloit was able to secure a $250,000 Community Investment Grant from the Wisconsin Economic Development Corporation to support the project.

THE POWERHOUSE

The Powerhouse The Beloit College has completed its planning and capital campaign for the Powerhouse project (pictured on the cover) and has formally entered

(YEAR IN REVIEW CONT.) the construction phase of this $38 million renovation. The College plans to adaptively reuse the former Blackhawk Generating Station into a student union and resource center that will include flexible meeting space, complete fitness/wellness center, food service, and a lecture hall/movie theater. The project will take advantage of state and federal New Market Tax Credits and Historic Tax Credits to support the project and is expected to open in 2019. In November Beloit College announced that the projects architect, Studio Gang Architects, had won top prize at the World Architectural Festival.

IRONWORKS

Ironworks The Beloit Ironworks Campus on-going $38,100,000 renovation to make it a state-of-the-art mixed-use facility continues to make great strides including recent notable projects such as:

• Kerry Connect Program• Ebates Expansion• First National Bank Expansion• Expansion of IronTek

200 WEST GRAND AVENUE APARTMENTS

200 West Grand Avenue Apartments HCP started demolition of the former Kerry manufacturing facility located at 200 West Grand Avenue. HCP plans on renovating the entire 133,000 square foot facility into a 72-unit luxury apartment building. One, two, and three bedroom units along with studio units will be offered. Special featured amenities include: Indoor parking, in-apartment laundry, private balconies, unique floor plans with

exposed brick, steel, and concrete. Common amenities include: gourmet kitchen, business conference center, dog wash station, patio and grilling area. The facility could see its first tenants move in in 2019. Total project cost is estimated at $12 million.

Town of Beloit Residential ProjectsBlackhawk Run: located just east of Turner High School and contains a mix of duplex and single-family homes. Three units are currently under construction, with approximately 50 units remaining.Courtney Condos: a duplex condominium development located just east of Turner High School. They have recently completed construction on their 5th building. Construction on building 6 of the 14 total buildings is expected to begin in the spring of 2019.Glen Hills Plats 6 & 7: has been approved and will begin construction of infrastructure and homes in the spring of 2019. The 36 single-family lots contained in Plats 6 & 7 will complete the Glen Hills development which was started in the mid-90s.River Bay Estates: located on the Rock River just north of Preservation Park, contains a mix of single-and multi-family lots. The first of the 26 buildings started construction in September.

HOLIDAY INN EXPRESS

Milwaukee Road Corridor Hotel Projects Beloit Hotel Group has completed construction on a 102-room 64,000 square foot Hilton Home 2 hotel to be located on Cranston Road south of the Hampton Inn. The project cost was $11.2 Million. KDN Hospitality plans on building a 124 room, 6 stories, 84,000 square foot Holiday Inn Express on the former Wickes Lumber Site. Construction is underway with a targeted completion date of late summer.

Casey’s General Store Casey’s Marketing Company opened its second location in Beloit on November 9. The 4,700-square-foot (CONT. ON NEXT PAGE)

9


RCEBD

Rock County Entrepreneurial Business Development

Leverage the Rock County Entrepreneurial Business Development

program to accelerate, plan, validate and transform your concepts into reality.

WHAT IS THE RCEBD?The Rock County Entrepreneurial Business Development

(RCEBD) program is a regional resource that assists start-ups

and small businesses located in Rock County, WI.

We help you evaluate your business concepts, sales and

marketing needs, operations requirements as well as your

current and future organizational priorities.

Our goal is to assist you in developing a sustainable business

through coaching, mentoring, technical assistance and

connecting you to the resources you need to be successful.

PHASE #1

IDEA GENERATIONAND VALIDATION

PHASE #2 PHASE #3 PHASE #4

BUSINESSPLANNING

PREPARATIONAND SCALING

ENTERPRISE LAUNCHAND SUSTAINABILITY

Eligibility – If you are an entrepreneur, early-stage or second stage company located in Rock County, then complete the program’s online application by visiting RockCountySmallBiz.com.

In-Take & Entry Level Review – During this one-on-one exchange, your current and/or proposed business concept(s), product/service and related ideas will be discussed. Next, a formal GrowthWheel® Assessment will be generated to provide a visual, analytic road map.

Strategy Development & Connections – Per your GrowthWheel® Assessment, key opportunities and challenges; resource and technical assistance identification; and implementation steps will be outlined and prioritized.

Coaching & Mentoring – Periodic reviews and status updates will be scheduled to ensure that milestone progress is occurring. When / where appropriate, strategic pivots and additional resource recommendations will be identified and evaluated.

1.

2.

3.

4.

Follow these Steps:

Explore, Focus & Navigate Your Business Concepts and Growth Opportunities.

17

15

2

1

Rock County Entrepreneurial Business Development Program

Client Locations

Client Demographics

Business Type

Manufacturing

Distribution

Professional Services

Personal Services

Retail

Total

6

2

11

7

10

36

Total %

17%

6%

30%

19%

28%

100%

Established

2017 Launch

Pending11

916

Total #

1

RCEBD













PHASE #1



BUSINESSPLANNING







1.

2.

3.

4.

Follow these Steps:


17

15

2

1


Client Locations

Client Demographics

Business Type

Manufacturing

Distribution


Personal Services

Retail

Total

6

2

11

7

10

36

Total %

17%

6%

30%

19%

28%

100%

Established

2017 Launch

Pending11

916

Total #

1

RCEBD













PHASE #1



BUSINESSPLANNING







1.

2.

3.

4.

Follow these Steps:


17

15

2

1


Client Locations

Client Demographics

Business Type

Manufacturing

Distribution


Personal Services

Retail

Total

6

2

11

7

10

36

Total %

17%

6%

30%

19%

28%

100%

Established

2017 Launch

Pending11

916

Total #

1

RCEBD













PHASE #1



BUSINESSPLANNING







1.

2.

3.

4.

Follow these Steps:


17

15

2

1


Client Locations

Client Demographics

Business Type

Manufacturing

Distribution


Personal Services

Retail

Total

6

2

11

7

10

36

Total %

17%

6%

30%

19%

28%

100%

Established

2017 Launch

Pending11

916

Total #

1

Rock County Entrepreneurial Business Development Program - Dashboard Report

Engaged:200 :100%

PROMOTIONANDENGAGEMENT

Actual:300+Goal: 200

EntryLevel:26 :72%

StrategicDevelopment:3 :8%

OngoingAssistance:7 :20%

ENTREPRENEURS/EARLY-STAGEBUSINESS CLIENTS SERVED

Launched:9 :100%

NEWBUSINESES LAUNCHED

Full-Time:11 :44%

Part-Time8: 32%

RemainingToGoal:6 :24%

JOBCREATION

Debt:$850,000:27%

LinesofCredit:$125,000:5%Equity:

$1,850,000:68%

CAPITALACCESS CLIENTCOMPANYREVENUES(EstimatedAnnual)

$12,500,000

Goal:25 Actual:36 Goal:8 Actual:9

Goal:25 Actual:11 Goal:$2,000,000 Actual:TBD

11

convenience store located on the northeast corner of Prairie Avenue and Inman Parkway offers patrons gas as well as food such as donuts, subs, pizza, and an option for delivery. Casey’s General Store has more than 2,000 locations, including locations in Roscoe, Rockton, Machesney Park, and Janesville.

Major Strategic Initiatives and Collaborations GBEDC spent time and effort on in the past year include:

• Refresh of the GBEDC’s website and SEO Re-engagement

• Continue to conduct Business Retention Expansion Visits (BR&E)

• Coordinated and re-branded the Practice Interview Program

• Launch of the Rock County Internship Program• Continued to explore the possibility of

developing an Anaerobic Digester that would use bio feedstock from local food processors to create marketable bio gas

• Designation of two federal Economic Opportunity Zones in Beloit

• Provided staff support to the Gateway Business Park Association

• Continuation of the Rock County Entrepreneurial Business Development (RCEBD) Program

• Development of a video series that offer testimonials of working in Greater Beloit

• Release of an RFP to solicit proposals to develop a 15 acre multi-family parcel in the Gateway Business Park that attracted one qualified proposal that is currently under consideration

• Launch of the Craftspeople with Character Program

• Relaunch of the Reality Store Program• Continuation of the Gateway Business Park

Marketing Campaign targeting the Chicago market

• Identifying and marketing sites for single and multi-family housing development

• Development of a quality of life video

Infrastructure Development Projects of note that begun or were completed in 2018 include:

• Construction work continues on the widening of 45 miles of I-39/90 from 4 to 6 lanes from the Stateline to Madison. The project will include the reconfiguration and reconstruction

of the I-39/90 and I-43 interchange into a diverging diamond interchange configuration. Construction activity is expected to be continuous now through the projects scheduled to be completed a year early in 2021.

• Completion of the Milwaukee Road Corridor Improvements and realignment of Branigan Road.

• Completion of the reconstruction of Oak Grove Avenue in South Beloit from Blackhawk Boulevard to the rail road track.

• Completion of the reconstruction and repavement of Town Hall Road.

• Start of construction on the City of South Beloit’s $34 million new Wastewater Treatment Plan due to be completed in 2020.

• Start of Construction on the School District of Beloit’s new $5.5 million Welcome Center due to be finished in the summer of 2019.

HAWK’S RIDGE APARTMENTS

EAGLE’S RIDGE DRIVE SINGLE-FAMILY

Other Development Projects that carried over from 2017, were announced, or are under construction in 2018 will add an additional 360 new jobs, result in the private investment of $896,563,400 and add an additional 452,404 square feet. Some of these projects include:

• DuPont PII• G5 Brewing Co.• The Rock Bar and Grill Improvements• Cornerstone Credit Union Expansion• Ironworks Pedestrian Bridge• First National Bank & Trust Expansion• Hawk’s Ridge Apartments• Townhall Substation• IPMPC• PBC Linear• Truk’t Street Tacos/Blue Collar Coffee

(YEAR IN REVIEW CONT.)

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GBEDC INVESTORS...programs: Craftspeople with Character, Rock Internship, and Blackhawk Makers and Scholars. Strategic Planning Committee Jerry Klobucar, Chair 2018 was another exciting