The Grundy Economic Development Council (GEDC) and the Grundy Chamber were excited to be awarded a US EDA grant to help nuclear host communities plan for and build a more diverse, resilient economy. Many thanks to Grundy County for supporting the application and providing the 20% match. North Central Council of Governments will assist as the grant administrator.
The grant focuses on regions with nuclear plants and provides funding to local entities to evaluate economic impacts, competitive diversification, decommissioning issues, and building community capacity. The GEDC looks forward to putting the money to good use, building a strong economy for Grundy County and its residents. More details to follow in the coming months.
Energy Speaker Luncheon - Tickets on Sale
Join the GEDC for lunch to learn about the current state of affairs in the ENERGY MARKETS on October 27 in Minooka! Secure your tickets on the GEDC website.
Data Update: Farmland Prices
According to farmdoc Daily, an online publication of the Argicultural Sciences division of the University of Illinois, the value of Illinois agricultural real estate increased $1,000 per acre in 2022, with an estimated average value of $8,900 per acre (Zwilling). This represents a 12.7% increase over 2021 values, but this increase remains in keeping with the "historical relationship between farmland prices, farmland returns, and interest rates" (Schnitkey).
Schnitkey, G., C. Zulauf, K. Swanson, N. Paulson, J. Baltz, and J. Coppess. “Farmland Prices Higher but Still in Line with Market Fundamentals.” farmdoc daily (12): 121, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, August 16, 2022. https://farmdocdaily.illinois....
Zwilling, B. “Illinois Farm Real Estate Values Increase $1,000 per Acre for 2022.” farmdoc daily (12): 117, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, August 8, 2022. https://farmdocdaily.illinois....
Prospects and Projects
Project Singularity - A precision machining company is seeking 50 pad-ready acres. A site was submitted to Intersect Illinois.
Project Green - A manufacturer is seeking acreage with rail access along the Illinois River. Sites were submitted to Intersect Illinois.
Project Plane - A manufacturer is seeking 10,000 SF of industrial space. A property was submitted to Intersect Illinois.
The GEDC will be hosting a Broker Breakfast for C&I real estate professionals doing business in the Grundy County area on November 2 at Ditka's in Oakbrook. Thank you to our event sponsors, Comcast and ComEd, for making this important marketing event possible as we work to attract continued investment in our area.
The Nuclear Host Community Economic Resiliency Conference for the Midwest region will take place in Morris from November 16-17. The conference is being hosted by the Nuclear Communities Technical Assistance Team and will feature collaborative conversations on energy, economic transition, and the ever-changing state of nuclear energy. The GEDC is acting as a local liaison for the event.
Congratulations to ComEd for being recognized as one of the Top 20 utilities in economic development by Site Selection Magazine, ranking in the top 1 percent of all American utilities for reliable and clean infrastructure. Click here to read more.
Illinois Works Pre-Apprenticeship Program - The Department of Commerce and Economic Opportunity has announced it is accepting applications for funding to support pre-apprenticeship programs in the construction and building trades. Grants range from $200,000 to $550,000 per year, and applications are due on September 27.Click here for more information.
Free Entrepreneurship Seminar - Joliet Junior College's Entrepreneur and Business Center is hosting a free seminar on starting and growing a businessin the Joliet Region on Wednesday, September 28 at the JJC City Center Campus Library. Click here for more information.