Elgin City Council Presentation, June 27, 2012

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a brief economic update on some highlights and on-going initiatives of our EDG partnership. The projects highlighted tonight are a tribute to the EDG partnership which played a significant role in bringing them to fruition.

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Elgin City Council Presentation, June 27, 2012

  1. 1. elgindevelopment.com ELGIN CITY COUNCILEconomic Development Update June 27, 2012Michael Shales, Shales McNutt Construction Board Chair, Elgin Area ChamberCarol Gieske, President, Elgin Area Chamber
  2. 2. elgindevelopment.comHIGHLIGHTS 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. American NTN Bearing Manufacturing Corp. Expansion
  3. 3. elgindevelopment.comHIGHLIGHTS 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. Pancor: 160,000 sf Spec Building Development
  4. 4. Elgin was chosen over two elgindevelopment.com other communities as the new headquarters location for the 44 year-old firm HIGHLIGHTS 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 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 beSt. Charles 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 Oakbrook estimated to have an annualized economic benefit of $11.8 million.
  5. 5. elgindevelopment.comHIGHLIGHTS 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.
  6. 6. elgindevelopment.com HIGHLIGHTS Senator Durbin VisitSwitzerland-based Bystronic celebrated the official grand opening of its new North American Headquartersin early May. Approximately, 550 people attended the multi-day event, including civic leaders, Bystroniccustomers, suppliers, friends, and family, and representatives from industry trade associations. Bystronic’snew 48,300 s.f. build-to-suit facility includes a 14,000 s.f. equipment show room as well as space devoted totraining, spare parts, and logistics. The new building on Airport Road is the marketing, sales, and trainingheadquarters for North America. Total investment in the project is nearly $20 million. The new headquartersis on track to generate 1,500 – 2,000 hotel room nights this year. The Swiss company is a leading supplier ofhigh quality laser cutting and water jet cutting systems.
  7. 7. elgindevelopment.comHIGHLIGHTS 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 EDG Website : elgindevelopment.com of the website have been translated in German, French, Japanese, a nd Mandarin
  8. 8. elgindevelopment.com HIGHLIGHTS “Helping You Find a SkilledWorkforce” was the focus of a Maymanufacturers’ roundtable hosted by EDG and Elgin Community College. Dr. Jeff Boyd, Dean of Sustainability, Safety, and CareerTechnologies 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 Manufacturers’ Roundtable Automated Design and Manufacturing.
  9. 9. elgindevelopment.com HIGHLIGHTS Local prospects - 37 projects Business Recruitment and Retention With its transportation infrastructure, convenientStatewide access to North Americanprospects - markets, workforce, lower operating costs and12 projects 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.
  10. 10. 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 ofeconomic 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. Fundingfor 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.

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