Project Phoenix to Benefit Loves Park Area

Posted: 5:35 PM Jul 23, 2010

Loves Park to Benefit from New State Law

An Illinois law aimed at offering tax incentives to potential businesses is now extended. And it's expected to directly impact the Stateline.

Reporter: Tina Stein

This here is what the people of Loves Park consider a field of dreams. A manufacturing company city leaders call "Project Phoenix" is considering moving in to build its world headquarters. Four-hundred high paying jobs will come with the deal.
"We have to get our economy back on track and it's important we use every tool at our disposal to do exactly that," said Governor Pat Quinn while in Rockford Friday.
That tool is the Industrial Jobs Recovery Law, which gives tax incentives to businesses. It got new life today after expiring earlier this year.
"The extension of this legislation is critical due to the geography. One of the competing sites for our project is Wisconsin and there are other incentives we just simply are unable to offer," says Loves Park's Director of Public Works and Development, Dan Jacobson.
Workers comp, property taxes and health care costs make the Land of Lincoln an expensive place to do business.
"Unfortunately overall Illinois is still higher but we have other advantages with our logistics, transportation so if we could at least reduce some of the cost to make us more competitive," says State Senator Dave Syverson.
Which could help keep our residents since they'll have jobs that support a family.
"In the T.I.F. districts there are a lot of construction jobs, all businesses requires electricity and we'll be wiring those buildings," says I.B.E.W. Organizer Charles Laskonis.
Management positions will also be available. Giving opportunities to Stateline residents with various backgrounds.
Machesney Park would also benefit by making the 173 corridor a T.I.F. district. The law was established in 1994 and was extended through the end of 2011. State Senator Dave Syverson says he hopes to work with legislators to rewrite the law that way Illinois will have even more incentives to offer.