My Perspective – Letters to the Rockford Region
What’s Up With Property Taxes
This visual depiction of property taxes is part of the work from the Rockford Area Economic Development Council’s Leadership Council. A part of the team’s goal is educating our region on the challenges our community faces with regard to low/dropping Equalized Assessed Value.
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The RAEDC and the Rockford Region
The RAEDC, as the Economic Development Agency for the region is also the data collection agency on all new capital investment in the area, retained and created jobs, and new or renovated space. As we enter into our Rockforward20/20 strategic plan, we will be informing all of you on project wins for our region as well as projects that we are working on with our various regional partners.
Regional Impact Measurements
These figures represent the collective successes during the new Rockforward20/20 campaign. The campaign began in January 2016 and will continue through December 2020.
The results shown below are for the first 6 months of the 60 month Rockfordward20/20 strategic plan.
Two project wins were recorded in June for the Rockford Region. The retention of the Winnebago County division of a national manufacturing company, with the potential for increased investment in its facility, and the expansion of a food processing company which is expected to create 15 jobs initially with additional growth anticipated within two years.
* This figure has been amended since the May 2016 President’s Newsletter to more accurately reflect the new or renovated space.
Regional Economic Measurements
These figures represent data from May 2016.
These figures represent data from April 1 – June 30, 2016.
Succession Planning is Success Planning
The future isn’t a sure thing and leaving the destiny of your company to chance isn’t the best way to ensure success. The RAEDC hosted a succession planning event featuring subject matter expert Lisë Stewert, founder of Galliard, Inc., a consulting service for family-owned and closely-held businesses.
The Rockford Area Economic Development Council’s primary mission is to cultivate opportunities for primary job growth that increase the economic well-being of our region. Retail is a very important component to our community and local economy as it generates a tremendous amount of tax dollars for our local municipalities.
Rise of the Rest
Jimsi Kuborn, Vice President of Investor Relations recently nominated Rockford for the Rise of the Rest, an opportunity for a local entrepreneur to win $100,000. The Rockford Register Star caught up with her to discuss the opportunity.
How Levies are Calculated
(Part 2 of a series with Rockford Area REALTORS)
A tax levy is the amount of money a taxing body budgets to cover their mandated service that needs to be raised from real estate taxes for that year. There is a process that is used by each taxing body and when this is complete the levy is transmitted to the Winnebago County Clerk.
The Board of Success
Business owners of small to medium sized companies can leverage advisory boards to support business growth through effective decision making. Advisory boards may have a broad focus and provide feedback on general business decisions.
Mortenson Selected to Lead the Largest Construction Project in Rockford History
Mortenson Construction will be serving as the builder for Mercyhealth’s new $485 million healthcare project in Rockford, IL. Construction on the project broke ground June 6, with both facilities scheduled for substantial completion in January, 2019.
WNIJ Interviews UTC Aerospace Systems
Chase Cavanaugh from WNIJ News spent some time with UTC Aerospace Systems to find out what makes Rockford, IL an aerospace powerhouse.
WNIJ Interviews Brent Johnson from Midwest Aero Support
Have you heard the interview on WNIJ with Brent Johnson, president & owner of Midwest Aero Support? If not, you should!
International Business Developer, Linnea Bengtsson to Continue Her Work in Rockford, IL
The County of Skaraborg, Sweden, has approved continued funding for an additional three-year period, beginning in 2017, for the International Business Developer position serving as a liaison between the Rockford Region, Madison, WI and Lidköping and the County of Skaraborg, Sweden.
Savant Capital Management Named as One of the 2016 Best Places to Work in Illinois
Savant Capital Management announced today that it has been named as one of the 2016 Best Places to Work in Illinois. The awards program began in 2006.
No Hesitation: Investment in Rockford Region Made Strategic Sense
RAEDC Chairman of the Board, Sagar Patel discusses why there was no hesitation when selecting the Rockford Region for expansion with REJournals.
Annual Meeting & Dinner: Wednesday, November 16th
The Annual Meeting and Dinner has been confirmed for Wednesday, November 16th at Giovanni’s Restaurant & Conference Center. The RAEDC Board of Directors and Staff are proud to welcome Mr. David Storch, Chairman, President and Chief Executive Officer of AAR, as the keynote speaker.
AAR is a leading provider of diverse products and value-added services to the worldwide aviation/aerospace and government/defense industries.
Sponsorship opportunities are available. For more information contact Jimsi Kuborn, Vice President of Investor Relations at 815-969-4259 or JKuborn@RockfordIL.com.
Keynote Presenting Sponsor
Baker Tilly, First Northern Credit Union, Mercyhealth, Meridian, Nicor Gas, PCI Pharma Services, Inc., Woodward
Rockforward20/20 represents a bold vision for our future, this aggressive plan will cultivate opportunities to create and retain over 10,000 jobs and significantly increase capital investment in the region.
The RAEDC welcomes these new investors to Rockforward20/20
- Bourn & Koch, Inc. – Bourn-koch.com
The RAEDC often works behind the scenes due to the confidential nature of business projects. Plus, big deals take time: The average time from start to completion on the 24 project wins in 2015 was 329 days.
We are committed to persistence and continuity in our work: We market the Rockford Region to the world, influencing companies to locate or expand here. We support and promote growth within targeted industries through regional public-private collaboration. We assist prospective and existing companies by connecting them to resources for workforce development, available buildings, supply chain partners, incentives and more.
Together, we will continue the momentum into 2016 for an even stronger, more sustainable economy. Together, we will Trailblaze, Inspire Action, Align, Seed and Serve!
Michael Nicholas, President
ABOUT THE RAEDC
The role of the Rockford Area Economic Development Council (RAEDC) is to collaborate with regional stakeholders to cultivate opportunities for primary job growth that increase the economic well-being of our region. The RAEDC markets the region to attract new capital investment, while assisting existing business with resources for sustainable growth. The RAEDC works closely with many partners to improve the competitiveness of the region by taking what it learns from the region’s employers and engaging the community in the daily work of economic development. As the economic development organization for the region, the RAEDC also serves as the area’s data collection agency on all new capital investment, retained and created quality jobs, and renovated commercial/industrial space.