Cook County Board Approves Tax Incentives to Support Economic Growth
Preckwinkle applauds actions to create, retain jobs in region
Cook County commissioners today approved proposals by President Preckwinkle’s Bureau of Economic Development (BED) that will provide tax incentives to business in six suburban communities, as well as save and create jobs.
A total of eight tax Incentives were approved in the following communities: Bedford Park (two), Bellwood, Bridgeview, Calumet City, Elk Grove Village, Franklin Park and Homewood.
As a result of the redevelopment activities these incentives should yield an estimated 74 new private sector jobs created and 130 jobs retained.
"Helping businesses create and retain good-paying jobs is a major focus of our economic development efforts," said Cook County President Toni Preckwinkle. "The companies receiving these incentives have demonstrated their commitment to their communities and our residents, and deserve our assistance in growing their businesses.”
Details on the incentives follow:
• Traylek Warehouse, 6501 W. 65th Street, Bedford Park
Project Description: Warehouse expansion
Applicant’s Name: Traylek Warehouse, Inc.
Estimated: 18 full time jobs retained
• Universal Logistics Group, LLC, 7373 S. Lockwood Avenue, Bedford Park
Project Description: Applicant purchased property to rehab and occupy with a new third party logistics provider.
Applicant’s Name: Intercontinental Realty LLC
Estimated: 45 full-time jobs created; 3 full-time jobs retained; 13 part-time jobs created; 2 part-time jobs retained; 30 Construction jobs supported
• Majestic Architectural Woodwork, 2150-2154 Madison Street, Bellwood
Project Description: Rehab property to be utilized for woodwork manufacturing for offices, trade shows, reception areas, and the healthcare industry.
Applicant’s Name: PAR Management LLC
Estimated: 6 full-time jobs created; 6 full-time jobs retained; 2 part-time jobs retained; 10-15 construction jobs supported
• Top Quality Hardwood Flooring, 9800 S. Industrial Drive, Bridgeview
Project Description: Relocation and Expansion -- The company currently has locations in both Franklin Park and Bridgeview. The business is relocating the Bridgeview location and expanding to larger site.
Applicant’s Name: Endless River, LLC
Estimated: 8 full-time Jobs created; 3 full-time jobs retained; 4 construction jobs supported
• George DeVries - Technotrix, Inc.(Lessee), 1407 Huntington Avenue, Calumet City
Project Description: (Owner of a vacant subject property wishes to lease to Technotrix, Inc. a nationwide provider to full-service production company equipment)
Applicant’s Name: George DeVries
Estimated: 1-2 full-time jobs created; 7 full-time jobs retained; 50 seasonal part-time jobs retained;
2-4 construction jobs supported
• Savage Brothers, 1825 Greenleaf Avenue, Elk Grove Village
Project Description: The company is vacating three of its smaller locations in Elk Grove Village and moving to a new property. The site will be used to manufacture machinery for the confectionary and baking/food processing industry.
Applicant’s Name: SBCO Properties, LLC
Estimated: 5-10 full-time jobs created; 59 full-time jobs retained; 3 part time jobs retained; 12-15 construction jobs supported
• JSL Building Restoration Group, 10208-10212 Franklin Avenue, Franklin Park
Project Description: The company currently occupies two sites in Franklin Park constituting 10,400 square feet. They will be expanding to the designated property as their third location for warehousing, maintenance of tools/equipment and sales office space.
Applicant’s Name: JSL Building Restoration Group, or its nominee
Estimated: 5-8 full-time jobs created; 4 full-time jobs retained; 8-12 construction jobs supported
• Fleet Park, LLC, 935 W. 175th Street, Homewood
Project Description: Purchased property and will occupy it as company headquarters
Applicant’s Name: Fleet Park LLC/Wayne Hoovestol
Estimated: 4-6 full-time jobs created; 30 full-time jobs retained; 5-15 construction jobs supported
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment.