Hedc news mlspring2016. cdr

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Mayor’s

Column

By Mayor Jay Nolan

Chairman’s Column

By HEDC Chairman Roger Lehmann

P. O. Box 623 • Harvard, IL 60033

[phone]

Need to Know...

Become an

HEDC Member

You can learn more

about the benefits of HEDC

membership and

to find out how you

can play a role in

Harvard’s future at

, or

to

receive a membership kit

by email or regular mail.

call [phone]

www.harvardedc.com

Join us!

The 300-acre former Motorola facility is

in escrow, with a new owner on the

horizon. The 1.5 million square foot facility

was featured on a four-day online auction

which ended on April 21. A bid of $9.3

million was accepted, with the sale subject

to a successful closing.

Sources say that the new owners plan to

convert the building into a multi-user

facility which will be used as an incubator

for companies coming to the United States,

according to

. The auction, originally

planned to run three days, was extended in

Harvard Economic

Development (HEDC) Executive Director

Charlie Eldredge

an effort to reach the seller's minimum.

The massive facility has sat empty for

more than a dozen years. With an opening

bid of $2.7 million, the auction was

expected to attract a lot of attention. The

HEDC and the City of Harvard have both

worked tirelessly over the years to try to

facilitate a sale, but the decision to sell or

lease the property always remained solely

with the property’s current owner, Optima

International. That proved frustrating for

the entire Harvard community.

“Both the City and the HEDC hoped that

the auction would produce a new owner

who was interested in putting the property

The informational

event hosted by the

HEDC on behalf of the

new Harvard-Woodstock

Enterprise Zone was a big

success. Participants

learned first-hand what is

required to be eligible for zone benefits.

A website dedicated to the

enterprise zone is being built which will

offer details, maps and the ability to

obtain and complete forms. In the

meantime, information can be found at

, or on the HEDC

website at

.

It is becoming increasingly harder to

compete with the aggressive business

attraction efforts of the State of

Wisconsin, which is working to lure

expanding companies over the border.

The new enterprise zone is one way to

help keep companies in Illinois.

Community support is another. When

we shop and do business with local

companies, we let Harvard employers

know that their presence is greatly

appreciated.

The vacant parcel located at 105 W.

Front Street is an exceptional

opportunity to invest in downtown

Harvard. Call the HEDC to learn about

new incentives.

www.harvardwoodstock

enterprisezone.com

www.harvardedc.com

H

E

D

C

ARVARD

CONOMIC

EVELOPMENT

ORPORATION

Incubator Company Targets Growth

Elite Ammunition owner Jay Wolf started his company in 2006,

ran it from his home for nine years and is now primed to grow it

significantly in Harvard.

The company, which recently moved into 1,800 square feet at

Harvard's new business incubator facility, manufactures high-grade, high-

tolerance custom ammunition used by the private, military and law

enforcement sectors. A competitive shooter, Wolf developed his expertise

in reloading to design and create a line of ammunition that is favored by

armored car, helicopter pilots and supply personnel worldwide.

Wolf and two other partners own a related company in Michigan which

recently brought a state-of-the-art brass manufacturing press online. The

press will create a steady, unlimited supply of brass which will drive Elite

Ammunition's growth, according to Wolf, who is an engineer by training.

“Finding the incubator space and gaining the manufacturing capacity

both happened at the same time,” he noted. The company employs five

full-time workers and plans to hire an additional eight to 10 entry-level

manufacturing workers during the coming year.

“We really wanted to stay in Harvard,” Wolf added.

“The incubator made that possible.”

Ready For Move In!

Bank Owned Retail/Mfg. Site

FOR LEASE:

FOR SALE:

4,000 sft. in newer building features 18' ceilings,

loading dock, 400 amp power. Affordable, fast move-in: $4/sft

NNN. Call [phone] for details.

Vacant 8.458 acres on McGuire Road, across from

Walmart. Two parcels, zoned B-2, M-2. Ideal for grocery, retail,

multi-use. In city. Access to McGuire Rd. and Frisco Dr. Call Verne

Sisson at Harvard Savings Bank for details: [phone].

The HEDC hosted an

informational event on

April 26 which provided

local businesses,

Realtors and developers

with information on the

new Harvard-Woodstock

Enterprise Zone. The

event, which was held at

the Starline, featured a

presentation by

on the incentives and benefits available to

companies which build or expand within the zone. Those

benefits may include tax abatements and tax credits,

depending on the site.

The former Motorola facility is located within the zone,

as is Arrowhead Industrial Park and other areas which

have fully-improved sites ready for fast-track

development.

HEDC Executive Director Charlie

Eldredge

A mixed-use parcel in downtown Harvard that is

owned by the HEDC and located within the new Harvard-

Woodstock Enterprise Zone is sporting a price reduction

and an enticing new offer: An eligible project that is

developed within two years of purchase may earn 100%

of the $50,000 purchase price back.

The .44-acre site, which includes four lots and is located very close to the Metra station,

is zoned B-2 and adjacent to a 60-vehicle municipal parking lot. The cleared site is also

located in the city’s TIF (tax increment financing) District, has all utilities to the site and is

suitable for mixed use or multi-level retail/office/residential.

“It’s a good buy and hold opportunity for an investor, or an opportunity for a small

business owner to build within two years and get the land for free,” according to

. Other incentives may also be available, subject to

HEDC board approval. Call [phone] for more information.

HEDC

Executive Director Charlie Eldredge

HEDC Hosts Enterprise Zone Event

Harvard

Woodstock

Enterprise Zone

Enterprise Zone

McHenryCounty IL

back into productive re-use,” Eldredge said.

The HEDC plans to reach out to the

prospective new owners to help facilitate

the sale and redevelopment of the site.

“The facility was originally built on the

promise of job creation and we are hoping

to see some of those promised jobs

realized.”

Fast-Track, Shovel-Ready Sites!

Incubator Space for Growing Companies!

Arrowhead Industrial Park has fully improved sites at highly

competitive costs. Call [phone] for details. Site plan online

at

.

1,800 or 3,600 sft. Ideal for office, light

industrial/assembly or distribution-based businesses. Each unit has

separate entrance, 12' overhead door and private bathroom. Units

can be reconfigured to meet specific needs. Call [phone].

FOR LEASE:

www.harvardedc.com

Downtown Development Opportunity

Could Include Free Land

V i s i t o u r w e b s i t e a t w w w . h a r v a r d e d c c o m

.

N

EW

O

WNER ON THE

H

ORIZON

The auction event

for the former

Motorola facility has

produced a potential buyer. It also

created a lot of attention for Harvard.

We are hopeful that a new audience

of companies and investors will now

take a closer look at our community

and all that we have to offer.

Harvard’s new business incubator

is another way that our community is

becoming more competitive with

Wisconsin. Now half full, the facility

in Arrowhead Industrial Park is a

good place for new small businesses

to grow in Harvard.

This year, Milk Days celebrates its

75th anniversary with an extra day of

festivities. Events like this are a good

example of how the Harvard

community works together to support

local events and businesses.

Published Quarterly

A publication of

the Harvard

Economic

Development

Corporation

Vol. 15, No. 2                               May 2016