Planet Planning

Interested in Starting a Business?

Interested in starting a business?

www.novusnetworking.com

Unemployment Rates

How the unemployment rates are calculated by the Federal Government

These rates are not seasonally adjusted.

http://www.bls.gov/cps/cps_add.htm

Month___________April________May

Rate___________

National________8.98.9________9.4

State________ 8. 9.3__ _ _ _9.9___________

Peoria MSA _____ _ 9.1_____ __8.9

http://www.bls.gov/eag/eag.il_peoria_msa.htm

A major corporation is conducting a search for a location to establish a factory to manufacture electrical machinery. Illinois is one of approximately six states under consideration for the project. The other states are east of Illinois. The company plans to construct a 180,000 sq. ft. plant on a 16 acre site. Anticipated employment in year 2 is 190 and in year 4 - 350 while planned capital investment is $70 million.

Site characteristics:

Ø Not more than approximately 30 miles from a Port or barge terminal site with a lifting capacity of 800,000 pounds - a 400 ton crane or two 200 ton cranes. The company is not interested in bringing in the cranes. Thus, port/barge terminal must be able to provide the service. However, a site at a port or barge terminal will probably not work for this project for the following reasons:

· the facility must be above the river to avoid floods,

· the site must allow equipment to operate 15' to 18' below the shop floor level, and

· have no underground water stream

Ø Rail service between the facility and a port/barge terminal is required. Also, the rail line should be connected to a regional railway network.

Ø Quick access to a major highway with no bridge underpasses along the access road or highway. Their trucks are not likely to make it under a bridge. Also, access roads and highways must allow for truck weights of 350 tons. Truckloads of 350 tons per year will be infrequent - approximately ten per year, but there will be a number of other loads of approximately 100 tons.

Ø The site must be level or flat and preferably composed of clay

Ø Within 100 miles of a university with an electrical engineering program. The facility will employ a significant number of electrical and mechanical engineers.

Ø Stable workforce - It is very important to the company to locate in an area where they can attract and retain engineers, skilled production operators and administrative staff. At full operation in year four 350 people comprising 230 production workers and 120 highly qualified managers, engineers, technicians and professional staff will be employed at the facility. If there is a training institution nearby that may be well prepared to address the training needs of the production workers, that would be helpful information.

Ø Utilities

· Power necessary: 15 MVA maximum

· No water is used for in the manufacturing process

· No natural gas is used in the manufacturing process

Attached is a site selection questionnaire for interested communities with a site meeting the above criteria. The section requesting labor cost data may raise some questions. Here is some guidance -

o IDES wage rate data is acceptable. Median average wages should be provided for the following OES occupations:

§ 51-2022: Electrical and Electronic Equipment Assemblers

§ 51-2023: Electromechanical Equipment Assemblers

§ 51-0000: Production Occupations

§ 51-1011: First Line Supervisors/Managers of Production and Operating Workers

§ 43-5071: Shipping, Receiving and Traffic Clerks

o The phrase "direct qualified workers" means operational people who actually build the equipment, which relates to the first three occupations listed. The phrase "indirect qualified workers" means operational people who do not directly build the equipment but participate in the overall process (supervisor of 'direct workers', logistics specialists, ...). However, "indirect" does not include the general staff (finance, legal,...).

The company is not interested in an existing building due to specialized requirements and work process flow. Also, they plan to construct their facility to LEED standards.

Project timeline:

Investment Decision - October 2009

Start construction - January 2010

Start production - August 2011

Production reaches full capacity - October 2014

For interested communities with qualified sites, please submit a completed site questionnaire along with any other pertinent information to david.pierson@illinois.gov by Monday, July 6, 2009.

Thank you in advance.

Dave

Dave Pierson

Economic Development Representative

IL Dept. of Commerce and Economic Opportunity

100 W. Randolph St., Suite 3-400

Chicago, IL 60601

Phone: 312-814-1346

Fax: 312-814-5247

E-mail: david.pierson@illinois.gov

City of Peoria Sales Tax Rate

Hospitality Improvement Zone
City of Peoria Sales Tax Rate
Effective 7/1/09

Background

The Illinois Department of Revenue (IDR) sent an informational bulletin to ALL taxpayers located in the City of Peoria of a sales tax rate change for the City of Peoria on 7/1/09. It was for businesses located “Inside the Hospitality Improvement Zone Business District”.

The rate increase of 1% and the new combined rate is 9%, not for all taxpayers, ONLY FOR THE ADDRESSES LOCATED IN THE DISTRICT.

There is some confusion… “the rate increase is only for businesses located inside Hospitality Improvement Zone Business District”. The informational bulletin (bottom right corner) also tells the taxpayer to find out if the rate applies to their sales, to go to the “Tax Rate Finder” on their web site at tax.illinois.gov for a list of addresses.

If the business address is not one of the locations listed below, they are NOT subject to the new tax rate.

If the business address is one of the locations listed below, they must collect the additional tax and remit it to the Illinois Dept of Revenue.

Addresses

The addresses provided to the IDR and that appear on the IDR web site:

702 Fulton Ct
720 Fulton Ct
414 Hamilton Blvd
416 Hamilton Blvd
500 Hamilton Blvd
501 Hamilton Blvd
501 Main St
519 Main St
529 Main St
531 Main St
533 Main St
539 Main St
611 Main St
617 Main St
627 Main St
629 Main St
631 Main St
633 Main St
709 Main St
727 Main St
514 N Main St
516 N Main St
706 N William Kumpf Blvd
814 N William Kumpf Blvd
225 NE Adams St
203 NE Jefferson St
217 NE Jefferson St
227 NE Jefferson St
228 NE Jefferson St
229 NE Jefferson St
117 NE Madison Ave
200 NE Madison Ave
202 NE Madison Ave
206 NE Madison Ave
222 NE Madison Ave
234 NE Madison Ave
222 NE Monroe St
237 NE Monroe St
201 SW Jefferson Ave
222 SW Jefferson Ave
109 SW Monroe St
125 SW Monroe St
128 SW Monroe St
129 SW Monroe St
135 SW Monroe St
719 W Main St

If the business address is on the list, they collect 9% and remit the tax to the Illinois Department of Revenue. If the business is subject to the Restaurant/Tavern tax the rate is then 11% with 2% going directly to the City.

Maps and Aerial Photography

Maps and Aerial Photography of Peoria

County GIS - Tax Maps

http://www.centralilmaps.com/PeoriaGIS/

Microsoft Aerials

http://www.microsoft.com/maps/isdk/ajax/

Redevelopment of the north Peoria Riverfront

The City has been seeking a developer for mixed use and housing redevelopment of the City Riverfront. The City has approved a concept plan for the land just north of the Riverplex, bordering the railroad Track. The maps below illustrate some of the concepts.

The Taft Homes should be redeveloped at the same time. As shown on the concept plan below, the undeveloped property in TAFT could be redeveloped soon into new mixed use development. Redevelopment of the existing homes would take longer since new housing must be developed to replace the existing homes. The development will be better if we can successfully mix fair market housing with subsidized housing.

More information at

http://rivertraildrive.blogspot.com/

http://greenedgepeoria.blogspot.com/

LAUNCH Business Plan Competition

The LAUNCH Business Plan Competition encourages central Illinoisans to start a small business. The competition is open to anyone with a new business idea that plans to start that business in the Tri-County Area. Business plans must be submitted by August 1^st.

For more information, contact Ken Klotz at Bradley University, 677-2992, or sbdc@bradley.edu.