Business Facilities - March 2008 - (Page 53)

CORPORATE MOVES Illinois By Karim Khan I mperial Manufacturing Group, a Imperial’s vice president, U.S. sales Canada-based maker of equipment and operations. for the heating, air conditioning, venImperial Manufacturing Group tilation and building products indus- currently occupies just over half of the tries, officially opened its new U.S. 222,400-square-foot Alton Center II, headquarters in Alton, IL last year in with 5,000 square feet of office space, July. The facility a 30,000-squarehas so far generfoot manufacturated 86 jobs, with ing area, and more expected in a p p rox i m a t e l y the future. The Illi87,400 square feet nois Opportunity of warehouse and Returns program distribution space. made the move The Alton Center possible by grant- Imperial Manufacturing Group officers and officials Business Park is a IL and at the July 12, ing a $655,000 from the city of Alton,at Altonthe state Business Park 150-acre, mixed2007 ribbon-cutting Center business investuse development ment package to Imperial. located at the foot of the Lewis and “The size of the new facility in Clark Bridge at the intersection of Alton will help increase production Illinois Route 143 and Broadway. It and efficiency of sales as well as bene- was a 2001 Phoenix Award winner fit the community with new job for Community Impact at the opportunities,” says Bradley Spencer, National Brownfield Conference. Canadian Company Opens U.S. Headquarters Chicago Keeps a HOT COMPANY I LOCAL MANUFACTURER GETS BIG STATE SUPPORT T PHOTO CREDIT: IMPERIAL MANUFACTURING GROUP; LOGO CREDIT: CAREERBUILDER he state of Illinois is investing $560,000 in Fabritech Inc., an aerospace manufacturing and maintenance, repair and overhaul business that specializes in rotor-wing aircraft. The money will go toward expanding the company’s existing operations at the St. Louis Regional Airport in Bethalto, IL. The company, which is making an almost $1.7 million investment, will create 26 new full-time jobs within two years and retain 46 jobs. Governor Rod R. Blagojevich also announced the certification of a boundary expansion for the Riverbend Enterprise Zone to include Fabritech’s expansion; zone status will give the company income and job creation tax credits. This support comes as a part of Opportunity Returns, the governor’s comprehensive economic development strategy to continue create jobs and expand the economy of Southwest Illinois. Fabritech, Inc. was incorporated in 1992 and currently operates a 25,000square-foot facility at the St. Louis Regional Airport. The company’s expansion project calls for not only refurbishing and remodeling its existing facility, but also doubling the size of the facility. The expansion is expected to be completed by the end of 2008. n February, the Chicago Development Commission approved a plan by CareerBuilder, one of the highest-profile employment services and Internet media companies in the world, to keep and grow its corporate headquarters in Chicago. The plan includes the rehabilitation and reconstruction of office space in order to consolidate some of its 1,415 Chicago employees into a new headquarters building. The state of Illinois has promised over $13 million in Economic Development for a Growing Economy (EDGE) program funding. The $11.6 million project will be supported with $2.9 million in Tax Increment Financing assistance. The company’s renovated 150,000-square-foot headquarters building will initially house 800 employees. CareerBuilder, which employs 2,220 worldwide, will retain 615 positions at three other affiliate offices in Chicago which collectively account for another 105,000 square feet of office space. It will also add 185 jobs in the city over the next two years, for a estimated total Chicago payroll of $105 million by 2010. CareerBuilder had been considering relocating as many as 1,115 of its Chicago employees to Atlanta, GA or Phoenix, AZ. BUSINESS FACILITIES 53

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Business Facilities - March 2008 Contents First Word Snapshots California Seeks Immigration Reform To Spur Economic Growth Outside the Biotechnology Clusters Global Biotech Competition Heats Up Location Is Key To Your Bottom Line New Incentives For New Hampshire Metro Spotlight: Jersey City, NJ Europe's Center For Goods, Real and Virtual Access Your Markets From Pennsylvania Corporate Moves: Illinois Louisiana Upgrades Important Port Road Projects To Accelerate Michigan's Economy Corporate Moves: South Carolina Metro Spotlight: Salt Lake City, UT Advertiser Index Inside LiveXchange

Business Facilities - March 2008

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