New GLCEDC Fan Page on Facebook

The GLCEDC has created our very own Fan Page on Facebook. If you are a user of FB, you can "Like" us and we will be able to keep you up to date on our programs and initiatives via Facebook. You will also be able to network and connect with other local business leaders and stakeholders. This link will take you to the new page.

http://www.facebook.com/pages/Pontiac-IL/Greater-Livingston-County-Economic-Development-Council/161094397287102

Our "Group Page" will eventually be deleted, as a "Fan Page" better suits our needs.

New Businesses and Member Investment Hi-light April Board Meeting

Celozzi, LLC Loan

The Board approved a $100,000 loan for Celozzi, LLC to open and operate a used car sales and service center at the site of the former Dempsey Chrysler Jeep Dodge Dealership in Dwight. The GLCEDC, Bank of Pontiac, and FREESTAR Bank are each participating in a $200,000 loan to fund the new dealership. Celozzi, LLC is finalizing the permitting and licensing requirements of the State of Illinois and plans to open for business this summer. They will offer over 100 used cars at various price points, including many late model Chrysler and Dodge automobiles. The dealership plans to hire 22 full-time employees. Funds for the loan program were provided as a grant to GLCEDC from the Livingston County Board.

Membership Report

The municipalities of Dwight, Cullom, Fairbury, Forrest, and Pontiac each increased their investment in the GLCEDC for 2011. Cullom and Forrest both tripled their investment level from 2010. Dwight, Fairbury and Pontiac each doubled their investment level. OSF St. James increased their investment from $15,000 to $25,000 for 2011. Other members increasing their investment level include Pontiac Township High School District #90, Dave's Market, Dwight Township, T&T Cartage, and LPL Financial/Tock Family in Dwight.

New members so far in 2011 include R.R. Donnelley - Pontiac ($2500), Consolidate Grain and Barge ($1000), and Indian Grove Township ($694).

2011-12 Work Plan

The Board approved the Work Plan for 2011-12 and reorganized the committee structure in order to more effectively fulfill the objectives of the Work Plan. Three committees were formed and include the Membership Committee, Business Retention Committee, and the Entrepreneur Development Committee. Each committee will meet more regularly and be assigned specific tasks and goals based upon the Work Plan. Members will be asked to join a committee of their interest in an upcoming email. The Work Plan and committee structure will be hi-lighted in the upcoming Spring Issue of the EDvocate.

EVT Global Incentive Agreement

The GLCEDC Board reviewed the previously approved incentive agreement with EVT Global of Fairbury. The agreement stipulates that the GLCEDC will provide a low-interest mortgage in the amount of $500,000 to EVT Global so they can build a new 20,000 square foot building for their production facility. The agreement will provide the GLCEDC with over $400,000 of revenue to fund future business ventures. The initial $500,000 came to the GLCEDC from a grant from the Livingston County Board. EVT projects to hire 12 full-time employees.

Annual Wind Conference and Trade Show

The GLCEDC will be participating with the Illinois Department of Economic Opportunity and the Illinois Development Council at the annual Wind Conference and Trade Show in May. The GLCEDC will share a booth with other Illinois agencies and have an opportunity to market Livingston County to suppliers and manufacturers in the wind energy industry.

The next meeting of the Board of Directors will be on July 20 at 5:00 p.m.

Tax Break for New Hires

"Put Illinois to Work" Program continues through June 30, 2011.

Has your small business (50 or fewer employees) created a new full time job between July 1, 2010 and June 30, 2011? If so, you still have time to receive a $2,500 per person tax credit. Please check out the attachment and link below to learn more about this tax credit, it is easy, fast and saves your business money.

John Whalen john.whalen@illinois.gov -309-663-7528

Tony Rolando anthony.rolando@illinois.gov -309-647-5896

website--http://jobstaxcredit.illinois.gov

Tax Break for Illinois Small Business EXPANDED

Eligible wage now $10/hr; Encourages hire of “Put Illinois to Work”-ers

Businesses Hiring Put Illinois to Work-ers

• Any-size business that hires a participant in 2010 “Put Illinois to Work” program

Eligible Jobs

• Position filled by 2010 “Put Illinois to Work” worker-trainee

• Created between 7/1/10 - 6/30/11

• Position pays no less than $10/hour or equivalent with minimum $18,200 annually.

• Position sustained for at least one year.

• Withholding tax goes to Illinois.

• Hourly or full-time, but not partners or independent contractors.

Tax Credits

• Certificate at six months and one year

Small Businesses

• Eligible if, as of June 30, 2010, you employed 50 or fewer full-time employees (counting all locations)

Eligible Jobs

• Created between 7/1/10 - 6/30/11

• Position pays no less than $10/hour or equivalent with minimum $18,200 annually.

• Position sustained for at least one year (not necessarily held by the same individual for the year).

• Withholding tax goes to Illinois.

• Hourly or full-time, but not partners or independent contractors.

Tax Credits

• Certificate after one year

“Business owners can go online and register for their tax credits, provide

substantiating data, and print out their credit certificates, without ever having to leave their office. This law gives employers a strong incentive to continue providing good jobs for workers who need it most. ”

- Governor Pat Quinn

Visit http://JobsTaxCredit.illinois.gov

Email JobsTaxCreditProgram@illinois.gov

Call (800) 252-2923

Connecting with your Future Workforce

Career Connects:

Connecting with your future workforce

DATE: Friday, April 29, 2011

TIME: 8 - 9:30 a.m.

LOCATION: Joliet Junior College, Building J, Room J-0006,
1215 Houbolt Road, Joliet

A concern for any business is attracting "top talent" for their company. Learn how you and your business can get involved with Career Connects Will & Grundy to impact our future workforce.

Your business will:

• Increase visibility in the community
• Actively build and develop a future workforce
• Highlight Will and Grundy counties as a great place to work
• Establish your company as a leader in Will and Grundy Counties

Attend the launch event for Career Connects Will & Grundy, a new online program which connects students and job seekers with local businesses.

Registration is requested: Please RSVP to (815) 280-1501 or careerconnects@jjc.edu. A continental breakfast will be served.

Free Business Counseling

The GLCEDC has partnered with the Small Business Administration's SCORE program to offer free business planning and counseling to local entrepreneurs. Currently, our area is being served by the McLean County Office. A counselor works out of our office in Pontiac every 3rd Wednesday of the month from 9:00 a.m. to noon. Feel free to stop in or call 815-842-2900 to schedule an appointment. You can find more information about SCORE by visiting their website.

Eventually, we would like to have our own SCORE program for Livingston County. If you have an interest in assisting local entrepreneurs succeed, please consider volunteering with SCORE. SCORE needs individuals to assist in all facets of business including accounting, human resources, planning, sales, and marketing. Please contact us if you would like to discuss this opportunity further.

The 11 Harsh Realities of Being an Entrepreneur

The Entrepreneurship website OnStartups.com recently published an article about some of the harsh realities and misconceptions about starting your own business. Read the list below and follow this link to the article for more insight.

1. Your First Iteration of an Idea Will Be Wrong
2.Your Friends And Family Won't Understand What You Do
3. You Will Make Less Than Normal Wages For A While
4. Everything Takes Twice As Long...If It Even Happens
5. Titles Mean Nothing. You Will Be a Janitor
6. There Is No Silver Bullet
7. Customers Will Frustrate You
8. You Can't Do It All Yourself
9. There Is No Such Thing As An Overnight Success
10. Building A Team Is Hard
11. There Are Forces Outside Your Control

Also, don't forget about the GLCEDC partnership with SCORE to provide business advising to Livingston County small business owners and entrepreneurs. Visit the GLCEDC website for more information and contact our office to set up a business advising appointment.

Now Available - Illinois Small Business Tax Credit

Small Business Tax Credit now available

Small businesses that grow by creating a new position now through June 30, 2011, are likely to be eligible for the Small Business Job Creation Tax Credit. The web site at http://JobsTaxCredit.illinois.gov is an easy-to-use site for small businesses to register and apply for the tax credit without leaving the office - it also contains the statute, an FAQ and has contact information for further questions.