May 18 Executive Committee Meeting Summary

At their May 18, 2011 meeting, the Executive Committee took the following actions:

Loan Approved for Spuds, Inc.

The Executive Committee approved a loan participation request from Spuds, Inc. of Dwight. The GLCEDC will participate along with at least three member banks - Bank of Pontiac, FREESTAR Bank, and State Bank of Graymont - in a $272,000 mortgage on the building owned by Spuds, Inc. The GLCEDC will use funds from their Revolving Loan Fund that was funded by a grant from the Livingston County Board. Spuds will use the loan proceeds to fund the hiring of staff, the purchase of machinery and the purchase of raw materials. Spuds, Inc. specializes in the design and production of children's tableware made from potato resin. The company plans to hire 45 employees in Dwight.

GLCEDC Office Moving to Downtown Pontiac

The Executive Committee approved a lease for a new headquarters for the GLCEDC at 210 W. Water Street in Pontiac. The new location will provide the GLCEDC better proximity to the County offices and a more visible location among the downtown Pontiac businesses. The GLCEDC will occupy the ground level of the western side of the building. Staff plans to begin the transition to the new office on June 1. The GLCEDC will continue to host seminars and board meetings at the Farm Bureau. The Executive Committee wishes to recognize the Farm Bureau for their support as a generous landlord for the past 2 1/2 years.

2nd Annual Golf Outing is Set for September 14

Please save the date. The 2nd Annual Golf Outing is scheduled for September 14. Please mark your calendars and look for additional information and sponsorship opportunities in the coming weeks.

Dwight Area Projects Moving Ahead

Joe Celozzi poses with his Illinois Dealer plates. Celozzi and his partners plan to open a used car sales and service operation at the former Dempsey dealership at Rt. 17 and I 55. The GLCEDC, along with the Bank of Pontiac and FREESTAR Bank, is providing a line of credit to fund start-up and operating costs for the new business. Celozzi plans to offer 100 used cars at all price points and employ 26 full-time employees. Eventually, the group hopes to attract a new car dealership to Dwight.

Consolidated Grain & Barge continues construction of their $17 million project on Rt. 17, two miles east of Dwight. The project will contain a 100-car rail siting terminal and be ready to accept grain this fall. The GLCEDC assisted CG&B in obtaining property tax abatements from the County and the Dwight School Districts. The abatements helped to offset the extraordinary infrastructure costs associated with bringing electricity to the site. CG&b plans to attract other industrial users to their 160 acre site in the near future.

Site work has begun on the site of the new Love's Travel Center at the intersection of I-55 and Rt.47. The travel center and restaurant will open this fall. The project will create 45 jobs. The Village of Dwight attracted the business by offering a sales tax rebate that will be used to reimburse Love's for improving the intersection with turn lanes and a traffic signal.

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.