Governor Quinn Signs Senator Jacobs' economic development authority initiative into law

Staff Writer
Aledo Times Record

Legislation sponsored by Mike Jacobs (D-Moline) in the

Senate and Pat Verschoore in the House adds areas to the Quad Cities

Regional Economic Development Authority, Senate Bill 1755, has been

signed into law by Governor Pat Quinn.

"This legislation will add JoDaviess, Carroll, Whiteside and Stephenson

counties to the Quad-Cities Regional Economic Development Authority.

The Authority already includes Rock Island, Henry, Knox, and Mercer

Counties," stated Senator Jacobs.  "This law will allow these additional

counties to benefit from increasing the number of jobs through the work

the Authority is currently doing in the region."

The goal of the Quad Cities Regional Economic Development Authority

(QCREDA) is to promote expansion and enhance employment opportunities

throughout the region.

In the past, QCREDA aided groups from the manufacturing industry to

local community projects.  Whitey's Ice Cream Mfg., Inc, is a

manufacturer of ice cream and frozen yogurt.  The Authority issued a $2

million bond for the expansion of their ice cream manufacturing facility

in Moline. The project helped to expand the business and create an

additional 40 jobs in the community.

Thoms Proestler is a food distributor for Midwest clients that are

located within a 200 mile radius of the Quad-Cities.  Before their

involvement with QCREDA, the company employed 360 people, and now they

have added 75 new jobs to their business.

The Development Authority was also able to assist the Two Rivers YMCA in

Rock Island County.  A $2.2 million dollar capital development campaign

plus an additional $6 million dollars in tax free bonds from the QCREDA

provided funds for renovations and construction of an addition.  This

project created 103 jobs in the community.

In addition, Watts Trucking Company, an independent refuse hauler, was

able to take advantage of QCREDA through a bond in the amount of

$6,500,000 to expanded solid waste disposal operations by upgrading of

an existing landfill, purchased equipment, waste hauling equipment and

related containers.  The Company employs approximately 440 people and

has since paid off their debts to QCREDA.

"These are just some examples of how the Quad Cities Regional Economic

Development Authority has brought additional jobs and services to out

community," stated Senator Jacobs.   "The legislation will uphold that

tradition to ensure so we can continue to draw business and industry to

the 36th Legislative District."