News in the Bi-State Region
November 19, 2014 – Notice of Public Hearing Concerning the Intent of the Communities of East Moline, Milan, Moline, Rock Island, Silvis, and the County of Rock Island, Illinois, to apply for an Enterprise Zone designation, to be awarded by the State of Illinois in 2015.
October 22, 2014 – The Quad City International Airport completed major expansion projects in 2014, reported Cathy Rochau, Marketing Director for the Quad City International Airport. One of the airport’s most recent projects is completion of Phase II Runway rehabilitation project and the addition of guard lights, ALCMS, and markings.
October 22, 2014 – Ms. Donna Moritz, Revolving Loan Fund Program Administrator, stated since the inception of the Bi-State Revolving Loan Fund program in 1986, nearly $9.4 million has been loaned to 102 businesses in Rock Island and Scott Counties. These loans have helped generate approximately $134 million in total investments, accessing city and state public financing programs, financial institutions, and company equity. In addition, over 3,400 jobs have been created/retained in the two-county area. Ms. Moritz reviewed a new loan made for a manufacturing business expanding and in need of a fixed asset gap loan. Currently, there is approximately $341,000 available to loan with the repayment loan pool growing by $10,000 each month.
March 26, 2014 –Current Schedule:
Final Design Complete: 2014
Iowa Right of Way (ROW) and Demolition Complete: 2014
Bettendorf/Moline Central Business District Project Construction: 2015/16
Illinois ROW and Demolition: 2010-2016
Final Construction: 2018-2021*
*(Central Bridge Section from bluff to bluff to begin no later than calendar year 2017.)
December 18, 2013 – Illinois Public Acts 97-905 and 98-109 were passed in 2012 and 2013 by the Illinois General Assembly. These laws combine to make significant changes to the way enterprise zones are awarded and administrated in Illinois. Enterprise zones were first established in Illinois in 1983 to stimulate economic growth by providing tax incentives and regulatory relief to businesses opening or expanding in specially designated areas. To date, 97 enterprise zones have been authorized by the State of Illinois.