REGIONAL BUSINESS
A yet-to-be-named company to redevelop Nippon Sharyo building in Rochelle BY RACHEL RODGERS
rrodgers@shawmedia.com Economic development leaders are preparing for a “jackpot” of a development coming to Rochelle. A yet-to-be-named company is planning to redevelop the two Nippon Sharyo buildings at the ProLogis industrial park off of Interstates 88 and 39, invest at least $130 million, and create more than 150 jobs, Rochelle Economic Development Director Jason Anderson said. Nippon Sharyo, a Japanese railcar maker, opened in 2012 and closed in 2018, after incurring huge losses after it was unable to complete a high-tech, bi-level railcar project. The plant was highly specialized for making about 120 of the railcars annually for North American transportation agencies. Anderson and Andy Shaw, administrator for the Lee-Ogle Enterprise Zone, approached the Dixon City Council about “Project Jackpot” Monday during a public hearing for creating a new
A major manufacturer could soon be moving into the Nippon Sharyo buildings in Rochelle. high-impact incentive tier to accommodate the project. “A recent study of the competitive environment in surrounding enterprise zones has found that we should be more aggressive with incentives for larger projects,” Anderson said. “It’s a critical component for Project Jackpot coming to Rochelle.” The enterprise zone allows for six years of property tax abatements of 50% if a company meets requirements for new capital investments and job creation within the zone, and the proposed super tier would allow for a 10-year extension of the 50% abatement for developments of at least $100 million that would add at least 125 new jobs. Development would need to happen within two
Oregon VFW members Stan Asp, Jason Stoller (Commander), and Bob Coulter were three of several volunteers who assembled and delivered Christmas food baskets. More on page 15.
years, and the company must maintain 95% of the jobs created. Dixon Mayor Li Arellano Jr. said with larger projects such as this one, they’re not only competing with other zones across the state but outside Illinois as well, and higher incentives put them on the same economic playing field as others. With state incentives not being what they used to be, it’s up to local organizations to become creative in attracting industry to an area, Anderson added. The two Nippon buildings combined have more than 800,000 square feet of industrial and office space on 57 acres. They were sold a year ago for $18 million to a buyer under the name of 1600 Ritchie Court LLC in Delaware, which is the address for the site. “It’s all very positive,” Anderson said. “It’s very exciting to see this beautiful campus being redeveloped.” An ordinance amending the enterprise zone for the new incentive tier will likely be presented to the council at its Jan. 19 meeting, and Anderson and Shaw will be making their rounds to other government partners in the zone next month and into February. The company has yet to be identified publicly, but Anderson said the manufacturer has 17 facilities across the country and could open the door to further developments in the region.
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Scot DeWall and his family
would like to express their heartfelt thanks for the recent drive-through tribute for Scot at Serenity House in Oregon. For people to take time out of their day to express their love during this hectic time was wonderful and really made Scot’s day. There were over 100 cars that participated, and traffic control was handled by the Sheriff’s Department during this event. So, thank you to all who were involved in making this happen for Scot - it was a wonderful tribute.
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Hale & Elaine Guy Jim & Melodie DeWall
OGLE COUNTY NEWS Ogle County Newspapers / oglecountynews.com • Friday, December 25, 2020
Manufacturer to revamp building, add 150 jobs
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