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ELGIN CITY COUNCIL

Economic Development UpdateJune 27, 2012

Michael Shales, Shales McNutt ConstructionBoard Chair, Elgin Area Chamber

Carol Gieske, President, Elgin Area Chamber

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HIGHLIGHTS

American NTN Bearing Manufacturing Corp. Expansion

NTN began its seventh expansion this year since coming to Elgin in 1975. The new project will add 75,000 s.f. to the

130,000 s.f. Holmes Road facility which opened in November, 2010. The new addition is expected to be finished by November. NTN employs nearly 600

people and plans to add several more employees in the next 12 months.

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Pancor: 160,000 sf Spec Building Development

PanCor, taking advantage of a special non-cash incentive program developed by the

EDG and City, is constructing a 160,000 s.f. modern industrial building on

Madeline Lane. The $10 million project is scheduled to be completed in August

and 50,000 s.f. of it has already been leased to an

Elgin company interested in expanding their operations.

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HIGHLIGHTS

Elgin was chosen over two other communities as the new headquarters location for the 44 year-old firm

Oakbrook

St. Charles

ELGIN

Mueller and Company began operations in 1968 as a small Elgin CPA firm. Since then, Mueller has grown into the 20th largest accounting firm in the Chicago area with offices in Elgin, St. Charles, Oakbrook Terrace, and Chicago. The firm has chosen to consolidate its St. Charles office into its Elgin office. The move required Mueller to seek additional space and allow room for expansion. The Sanfillippo Building meets Mueller’s space requirements and provides them with visibility from I-90. Twenty-three positions will be added to the Elgin office, bringing the total employee count to approximately 80. The $1 million office build-out is scheduled to be completed in November. The project is estimated to have an annualized economic benefit of $11.8 million.

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Bystronic North American Headquarters Grand Opening

Switzerland-based Bystronic celebrated the official grand opening of its new North American Headquarters in early May. Approximately, 550 people attended the multi-day event, including civic leaders, Bystronic customers, suppliers, friends, and family, and representatives from industry trade associations. Bystronic’s new 48,300 s.f. build-to-suit facility includes a 14,000 s.f. equipment show room as well as space devoted to training, spare parts, and logistics. The new building on Airport Road is the marketing, sales, and training headquarters for North America. Total investment in the project is nearly $20 million. The new headquarters is on track to generate 1,500 – 2,000 hotel room nights this year. The Swiss company is a leading supplier of high quality laser cutting and water jet cutting systems.

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Senator Durbin Visit

Switzerland-based Bystronic celebrated the official grand opening of its new North American Headquarters in early May. Approximately, 550 people attended the multi-day event, including civic leaders, Bystronic customers, suppliers, friends, and family, and representatives from industry trade associations. Bystronic’s new 48,300 s.f. build-to-suit facility includes a 14,000 s.f. equipment show room as well as space devoted to training, spare parts, and logistics. The new building on Airport Road is the marketing, sales, and training headquarters for North America. Total investment in the project is nearly $20 million. The new headquarters is on track to generate 1,500 – 2,000 hotel room nights this year. The Swiss company is a leading supplier of high quality laser cutting and water jet cutting systems.

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HIGHLIGHTS

EDG Website : elgindevelopment.com

EDG’s website went live earlier this year. Websites

have become the most significant economic

development marketing tool for influencing site selectors, brokers, and corporate real

estate decision makers. Given the importance of

foreign direct investment to Elgin, sections of the website

have been translated in German, French, Japanese,

and Mandarin

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Manufacturers’ Roundtable

“Helping You Find a Skilled Workforce” was the focus of a May manufacturers’ roundtable hosted

by EDG and Elgin Community College. Dr. Jeff Boyd, Dean of

Sustainability, Safety, and Career Technologies provided an overview of ECC’s advanced manufacturing training opportunities to our local

employers who had limited knowledge of the depth of skill-

building opportunities at ECC. The event also featured a tour of the

recently renovated Industrial Training Center lead by Chris Sikora, Professor of Computer Automated

Design and Manufacturing.

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Business Recruitment and Retention

Local prospects - 37 projects

Statewide prospects - 12 projects

With its transportation infrastructure, convenient access to North American markets, workforce,

lower operating costs and proximity to Chicago, Elgin is a preferred location for many companies.

So far this year, EDG has worked with 37 companies who have expressed an interest in expanding or locating in Elgin. The EDG also

provided information to area brokers and developers regarding 12 DECEO statewide search

projects.

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Connecting Businesses Worldwide

The Elgin Development Group (EDG), a division of the Elgin Area Chamber, was formed in 2010 to strengthen the vital role of

economic development for the City of Elgin. The EDG is a unique and historic public-private partnership consisting of the City, the Elgin

Area Chamber and Downtown Neighborhood Association. Funding for the economic development partnership is provided by fees from

the City’s business licensing program which was adopted with Chamber Support.

Contact us at info@elgindevelopment.com to learn more about doing business in Elgin.