Peoples Bank of Kankakee County Invests in Economic Alliance Program
From Peoples Bank of Kankakee County
BOURBONNAIS, IL – September 1, 2015 – Peoples Bank of Kankakee County presented a $2,500 contribution to Economic Alliance President and CEO Mike Van Mill yesterday to support the countywide economic development organization’s operations and 2015 program of work.
“If you want a better quality of life, you need growth. If you want growth, you need a first-class economic development team that brings government, industry and business together,” remarked Jeff Hammes, President of Peoples Bank of Kankakee County and a member of the Economic Alliance Board of Directors. “We have that in the Economic Alliance.”
“The Alliance team produces results,” Hammes added, citing the following recent program outcomes:
- The attraction of industrial prospects, most recently a New Jersey-based metals fabricator seeking a site in the City of Kankakee and an Illinois-based energy company seeking to establish a new Chicagoland plant that will create 50-100 jobs.
- Partnering with more than 20 local industries over the last two years to support their growth objectives, including capital investment and the creation of new jobs.
- The certification and administration of corporate financial incentives, most notably Kankakee County’s two Enterprise Zone programs, which together have spurred the addition of nearly 6,500 jobs and more than $409 million in capital investment.
- Providing key technical support to municipalities for high-profile community development efforts, including the Bourbonnais Parkway I-57 Interchange Development project, the Broadway Redevelopment initiative, the Downtown Kankakee Historic District initiative, and the Downtown Grant Park Redevelopment project.
Hammes noted, “Considering the $225 million in capital investment projected from existing companies over the next two years – much of it requiring coordination with municipalities, utilities, education and corporate headquarters all over the world – the Economic Alliance’s cost to the community is a great value.”
The public sector, through the Kankakee County Board, contributes approximately $70,000 annually to support the operations of the Economic Alliance of Kankakee County. The Alliance’s remaining budget is supported with awards, grants and contributions by the private-sector business community, including the not-for-profit Economic Development Association, which manages Ken Hayes Industrial Park in Bradley.
Peoples Bank of Kankakee County is a locally owned and managed community bank offering a wide array of financial services for both businesses and households.
The Economic Alliance of Kankakee County is a public-private partnership that works to create jobs and expand the economic base by improving the local business climate. Working under Kankakee County’s 2014-19 Comprehensive Economic Development Strategy (CEDS), the Alliance is challenged to help spur $500 million in new business investment and 500 new jobs, along with assisting 150 prospective new businesses.