For now it is being referred to as the project “Special K”. According to Rochelle’s director of economic development, a fortune 500 company is considering building a distribution center just south of town.
Right now the Logisticenter Industrial Park is mostly land waiting to be developed, but if this deal goes through it would mean 300 more jobs in Rochelle. That means more people traveling to the Hub City.
“If not moving to the area, commuting to the area which brings more people into town, more sales at gas stations, more sales at convenience stores, grocery stores, its a great project,” says Economic Development Director Jason Anderson.
But the unnamed company is looking at one other location in Illinois. Tuesday night the Ogle County Board unanimously voted to wave 45% of property taxes the company would have to pay over the next 5 years. The county board hopes the $73k tax break will be enough incentive to attract the company.
“When it comes down to picking the two communities its going to come down to economic development incentives, that’s why the tax abatement approval by 100% of the taxing bodies is so critical,” says Anderson
Without a tax cut the company almost certainly would choose to build elsewhere. In that case Ogle County would continue to collect just 250 dollars a year for the undeveloped land.