Our businesses have invested $13.2 million in new construction, additions and renovations for their business facilities from 2006 to 2009. This figure does not include the investment they have made in new equipment, machinery and technology upgrades. These figures are based only on those construction projects approved under our Neighborhood Revitalization Program.
The leader in this has been Farmway Co-op with the renovation of a rail car loading facility in Glen Elder; construction of two new flat storage facilities that provide nearly 2.5 million bushel of storage capacity; a 470,000 bushel grain storage facility in Beloit and a 50,000 s.f., state-of-the-art chemical, lubricant an seed distribution facility in Beloit.
At the same time, Sunflower Manufacturing, a division of AGCO expanded their manufacturing facilities in Cawker City and added to their main building in Beloit. They also purchased new automated welding equipment and other advanced manufacturing technology.
Great Plains Manufacturing in Tipton also invested in upgrading their buildings and equipment. One of their new key investments was a new paint system.
Between October 2006 and October 2009 there were 40 commercial building construction projects approved under the Neighborhood Revitalization Program in Mitchell County. There was nearly $5 million in housing construction and renovation work during that same time period.
On top of all this our community is stepping forward firmly. Since 2005 we have embarked upon two major renovations of our hospital. The first provided three new surgical suites and other renovations. The latest expansion project, underway now, will create all new private patient rooms and upgrade other areas of the hospital. The two projects combined cost nearly $25 million for construction and new equipment.
Expanding or establishing a new business can be a difficult decision. We offer a variety of incentives to help make the transition smoother and successful. These include, but are not limited to:
- Enterprise Zones
- Property Tax Abatements
- Revolvign Loan Funds
- Tax Exemptions & HPIP
- Grants and Revenue Bonds
- Workforce Opportunity Tax Credits
- Job Creation Tax Credits
- Neighborhood Revitalization Tax Rebates
In these difficult economic times we are working to let businesses know what we have done as a community, the investment our businesses have made in our community and in our future. These investments demonstrate a confidence in our future that can benefit businesses today and tomorrow.
