15
August , 2018
Wednesday

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Cook County Commissioners approved eight proposals from President Toni Preckwinkle’s Bureau of Economic Development (BED) that will provide tax incentives to businesses in Cook County.

The incentives, which will either create new or save existing jobs, were approved in the following communities:  Blue Island, Hodgkins, Hoffman Estates, Markham, Rolling Meadows, Schiller Park and South Holland.

As a result of redevelopment activities, these incentives should support the creation of an estimated 325 new private sector full-time jobs, retain an estimated 717 full-time jobs and support 180 construction jobs.

“The companies receiving these incentives have demonstrated their commitment to our communities and residents,” Preckwinkle said. “I’m pleased that we are able to use our tax incentive tools to either keep or expand businesses in Cook County.”

Details on the incentives follow, listed by municipality:

  • Business Name: SMS Realty, 3000 W. 139th St.,  Blue Island

Type of Business:  Scrap metal processing

Project Description:  Work includes steel mill services, intermodal truck container and railcar dismantling; also ship and oil rig recycling and trailer leasing operations.  Incentive allows scrap metal processing at this location to continue.

Type of Incentive: Class 6b SER (Sustainable Emergency Relief)

Estimated: 100 full-time jobs retained.

  • Business Name: Santa Fe Industrial Investors, 7335 & 7435 Santa Fe Drive, Hodgkins

Type of Business: Industrial warehousing

Description: The applicant plans to lease the subject property to an industrial user for industrial use-manufacturing, distribution and light assembly.

Type of Incentive: Class 6b – TEERM (Temporary Emergency Economic Recovery Modification)

Estimated: 100 full time jobs created.

  • Business Name: Plum Grove Printers, 2160 Stonington Ave., Hoffman Estates

Type of Business: Printing

Description: Print production industrial facility, printing marketing and promotional products.  Planning new water service and expansion of facility.

Type of Incentive: Class 6b SER (Sustainable Emergency Relief)

Estimated: 5 full-time jobs created; 24 jobs retained.

  • Business Name:  Royal Crane Services, 3950 W. 155th St., Markham

Type of Business: Crane rental company

Description: Relocating business to new location with option to expand on adjacent vacant lot. Applicant is a crane rental company that has been serving the Chicago metro area, Dallas, Columbus, Ohio, St. Louis and Louisville since 1985.

Type of Incentive: Class 8

Estimated: 2 full-time jobs created; 40 construction jobs supported.

  • Business Name:  2550 West Golf LLC, 2550 West Golf Road, Rolling Meadows

Type of Business: Commercial space management

Description: The applicant will substantially rehabilitate the property by gutting each floor and rebuilding the office space to meet each new tenant’s specifications.

Example: The applicant is currently negotiating a lease that will occupy three floors, or 80,000 square-feet, of the ten story building

Type of Incentive: Class 7b

Estimated: 200 full-time jobs created; 400 Jobs retained; 50 construction jobs supported.

  • Business Name:  KTR Illinois LLC d/b/a Prologis, 4136 United Parkway, Schiller Park

Type of Business: Industrial Warehousing

Description: Will be leasing space to industrial tenants.  Negotiations are underway.

Type of Incentive: Class 6b – TEERM (Temporary Emergency Economic Recovery Modification)

Estimated: 10 full-time jobs created; 81 jobs retained; 40 construction jobs supported.

  • Business Name:  GBG Leasing, 15523 S. LaSalle St.,  South Holland

Type of Business: Manufacturer of commercial laundry cleaning products, wastewater chemicals and chemical dispensing systems.

Description:  Company is expanding its existing industrial business into the adjacent subject property, which it will redevelop and occupy.

Type of Incentive: Class 6b

Estimated: 5 full-time jobs created; 105 full-time jobs retained; 40 construction jobs supported.

  • Business Name:  Valerie Rietveld/Ken-Rich Concrete Lifting, 15510 South Wentworth Ave., South Holland

Type of Business: Concrete raising and foundation repair services.

Description: Company is expanding. Ken Rich Concrete is a 61 year old family owned and operated business for more than 30 years. The company specializes in concrete raising and foundation repair services in the Chicago metro area and Northwest Indiana.

Type of Incentive: Class 6b

Estimated: 3 full-time jobs created; 7 full time jobs retained; 10 construction jobs supported.

For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment.

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