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