Verschoore Passes Legislation to Expand Economic Development in Quad-Cities
To promote economic development and cooperation in the Quad Cities, state Rep. Pat Verschoore (D-Milan) passed legislation out of the House today to add five additional counties to the Quad Cities Regional Economic Development Authority Act.
“The Quad Cities Regional Economic Development Authority Act was created to promote local development, by expanding to more counties we can help more facilities and businesses,” said Verschoore. “It is my goal to promote development and expansion in the Quad Cities area to make sure we are getting businesses and jobs to the region.”
The Quad Cities Regional Economic Development Authority (QCREDA) was created in 1987 and encompasses the counties of Rock Island, Henry, Knock, and Mercer. QCREDA has the power to issue tax and tax-exempt bonds on behalf of companies for development within the four counties. Verschoore’s legislation would expand the boundaries of QCREDA to include JoDaviess, Carroll, Lee, Whiteside, and Stephenson counties with the approval of the respective counties boards.
As part of Senate Bill 1755, the authority would also expand the board of directors for QCREDA to oversee the expanded development authority. Currently, the board is made of six members who are appointed by the governor with the consent of the Senate, four members appointed by each of the counties involved and the Director of the Department of Commerce and Community Affairs serving as an ex-officio member. The measure would allow each of the new counties to appoint a representative of their county to the board.
“We have seen the authority be successful with projects like the additions and renovations to the Twin Rivers YMCA and I hope we can accomplish more,” said Verschoore. “Economic Development is a local process that is best served by members of the community who know when to invest in projects that are going to promote the region. I am working to give the area the tools they need to continue to invest in the region.”
The legislation passed the Senate 59-0 and the House by 113-0 and now moves to the governor for further consideration. For more information on this or any of Rep. Verschoore’s legislation, please contact his constituent services office at (309) 558-3612.