Investment Continues in Resilient Whiteside Carroll Enterprise Zone
Morrison, IL (October 22, 2020) - Activity in the Whiteside Carroll Enterprise Zone continued at a good pace, with five new projects approved in the third quarter. This brings the number of projects up to 15 for the first three quarters of the year, and a total investment of $40.7 million for Enterprise Zone projects. This compares favorably to full year 2019’s 19 projects and $38.6 million, and 2018’s 13 projects and investment of $10.5 million. Projects have been approved in Fulton, Mt. Carroll, Prophetstown, Rock Falls and Sterling, and vary in size and sector. It is estimated that 279 jobs that will be created or retained in the region. The Enterprise Zone has been considered one of the region’s most effective local incentives.
Enterprise Zone Administrator Gary Camarano said, “Our region has been fairly resilient. Investment in existing businesses continues, and many are hiring. With about dozen potential projects in our pipeline we remain cautiously optimistic about our region’s economic health. We’re concerned about the health of our smaller businesses, especially those in retail and hospitality, given the enhanced COVID-19 restrictions that were put in place on October 3, 2020.
For those businesses impacted by COVID-19, we suggest they explore the second round of the State’s BIG (Business Interruption Grant) program. Information can be found on-line at https://www2.illinois.gov/dceo/smallbizassistance/pages/c19disadvantagedbusgrants.aspx or from their local municipality or economic development entity. A total of $220 million will be made available for small businesses, and funding may be used to help businesses with working capital expenses, including payroll costs; rent; utilities; and other operational costs.”
Camarano added, “There are still a number of businesses hiring, and a virtual job fair geared towards manufacturing jobs has been scheduled for Wednesday, October 28, 2020, hosted by Sauk Valley Community College (SVCC). Additional information and be found at https://www.svcc.edu/community/business-training/job-fair.html or by contacting Dana Charon, Career Services Coordinator at SVCC.”