First Posted on UrbanaCitizen.com: March 13th, 2016
By Joshua Keeran - [email protected]
​Under the leadership of the Champaign Economic Partnership (CEP), the combined city of Urbana and Champaign County Tax Incentive Review Council (TIRC) on Thursday voted in favor of recommending the city and county continue all current enterprise zone, Community Reinvestment Area (CRA) and Tax Incentive Fund (TIF) agreements.

In enterprise zones or economically depressed areas where business growth is encouraged through tax relief, the TIRC unanimously voted in favor of continuing agreements with KTH Parts Industries, the American Pan Company and the Ultra-met Company.

Marica Bailey, CEP economic development director, said the deal with KTH, 1111 state Route 235 N. in St. Paris, is a 100 percent tax abatement for 10 years (through Dec. 31, 2016) in which the company agreed to commit over $3 million in real property and retain 92 positions.

“They have a total investment of $23 million at this point,” she said. “Everything so far is above what they have anticipated.”

Champaign County Auditor Karen Bailey reported the amount of taxes forgone to date as a result of the agreement is $1,265,606.

The American Pan Company, 417 E. Water St. in Urbana, is receiving a 75 percent tax abatement for 10 years (through Dec. 1, 2022) in return for the creation of 33 jobs and the retention of 154 jobs.

“American Pan has met their agreement regarding their employees,” Marcia Bailey said.

To date through the agreement, the company has invested $2.2 million, while $103,547 in taxes have been forgone.

Under the enterprise zone agreement with Ultra-met, 120 Fyffe St. in Urbana, the company agreed to invest $510,000 in real property, $1.5 million in personal property, create 22 jobs, and retain 30 jobs in return for a 75 percent abatement for 10 years (through Dec. 31, 2020).

“At this point, they have reported 11 new jobs created, and the investment is on track,” Marcia Bailey said.
To date, the deal has resulted in a tax abatement of $23,140.

TIRC members were also informed that an enterprise zone agreement with Parker Trutec, 4795 Upper Valley Pike, expired at the end of 2015.

Marcia Bailey said during the length of the 10-year agreement, the company received a 45 percent reduction in real property taxes in exchange for creating two positions and retaining 88 employees.

“They are now at the 88 retained and have maintained the two new employees,” she said, noting the company invested $2.1 million during the agreement.

The total amount of taxes abated over the length of the deal was $289,830.

CRA, TIF agreements
TIRC members unanimously agreed that CRA agreements, tax exemption deals benefiting property owners who renovate existing or construct new buildings, should continue with Gerald Shiffer and White’s Service Center.
The deal with Shiffer, which involves a hangar at Grimes Field, is a 50 percent tax abatement for 15 years (through Dec. 31, 2016) in return for a real property investment of $325,000 and the possible retention of two positions.
To date, $75,868 in taxes has been forgone.

“Everything is on track as specified with the agreement,” Marcia Bailey said.

The CRA agreement with White’s Service Center, 1325 N. Main St. in Urbana, is a 50 percent tax abatement for 10 years (through Dec. 31, 2019). During the length of the agreement, the company has pledged to invest $250,000 in real property and $2,500 in personal property, create one new position, and retain one position.

“They did hire a new person and have retained the other,” Marcia Bailey said. “They haven’t requested any taxes be abated as of yet, but the agreement will remain in case they decide to do so at a later date.”

TIRC members also unanimously voted in favor of continuing the 10-year TIF agreement set up by the city of Urbana to help fund the Scioto Street Improvements Project through 2021.

To date, the six businesses involved in the agreement have paid the following amounts into the fund: Aaron Rents ($35,375), Clark Station ($14,549), Midwest Dialysis Center ($32,756), McDonald’s ($38,410), Sonic ($18,516) and Family Dentistry ($28,611).

​Marcia Bailey said the TIRC’s recommendations will be presented to both the Urbana City Council and Champaign County Commission on Thursday for final approval. Council will vote on city agreements only, while the commissioners will vote on county and township agreements.

Joshua Keeran may be reached at 937-652-1331 (ext. 1774) or on Twitter @UDCKeeran.

First Posted on UrbanaCitizen.com: March 10th, 2016
Chairman Dr. David R. Decker has announced the appointment of Marcia Bailey to the Urbana University Board of Trustees.

Bailey is director of the Champaign Economic Partnership, a collaborative regional economic development agency of Champaign County and the city of Urbana. She is board president of the Monument Square District, which supports the city’s central business district, and she serves on other local and regional boards. An alumna of Urbana University, she earned her B.S. in Social Sciences from Urbana in 1995. She is a Triad graduate, mother of three adult sons and married to Ned Bailey.

“I am proud of Urbana/Champaign County and proud to call it home,” she said. “I am both elated and honored to serve my alma mater as a member of the board of trustees. The university is a tremendous resource for our region and is on a path for growth and long-term sustainability. It’s an exciting time to become more deeply involved with the university and I am looking forward to the opportunities ahead.”

“I am very pleased that Marcia has joined the board,” Decker said. “Along with her perspective as a graduate, she also brings a wealth of knowledge and experience of the local and regional business and industry to the board and will deepen and extend the productive relationship between Urbana University and the region it serves.”

Submitted by Urbana University
  

First Posted on UrbanaCitizen.com: March 10th, 2016
The Ultra-met Company, Urbana, on Wednesday announced that J. Neil Cordonnier is the company’s new president and CEO.

He comes from Hartzel Air Movement where he served as Vice President of Operations and Product Offering Manager. Prior to Hartzel he was president of Ernst Metal Technologies.
Cordonnier has over seven years of top management leadership experience and over 17 years of experience in the metal cutting and fabrication industry. He holds a Bachelors of Science degree in Industrial Engineering from the University of Cincinnati and a Masters degree in Operations Management from Kettering University.

He and his wife live in Bellbrook with their three children.

The Ultra-met Company has been in business over 50 years and is a manufacturer of tungsten carbide products for use in a wide range of industries such as the automotive, aerospace, medical, petroleum, and woodworking industries. The manufacturing process involves the use of powder metals, pressing, forming, sintering, and grinding operations. It is a locally owned, privately held company.

Submitted by The Ultra-met Company.

First Posted on UrbanaCitizen.com: March 10th, 2016
By Joshua Keeran - [email protected]
In cities like New York, Boston and San Francisco, where parking is at a premium, individuals often shell out thousands of dollars or in some cases hundreds of thousands of dollars for one parking space. This past November, Honeywell Aerospace’s Game Changers Employee Club in Urbana found out just how much their fellow associates are willing to pay for parking at the workplace.

As a way to raise funds for local organizations, the club was given approval to place up for bid 56 prime parking spots at Honeywell Aerospace’s state Route 55 location. The spots had previously been available on a first-come, first-serve basis.

“The online bidding process was open for all associates at all levels throughout the site for several weeks,” Honeywell Aerospace Executive Assistant April Shockey said. “Employees were able to use an alias throughout, making the process fun and exciting. Cheers and applause broke out when the last bids processed through.”

The result of the fundraiser revealed Honeywell Aerospace employees value prime parking spots, as bids ranged from $50 to $305. In total, the 56 spaces brought in over $6,000, and the winning bidders have access to their spots until November.

After the auction wrapped up, Shockey said, employees were asked to provide feedback as to which organizations the club should donate the funds to. The decision was made to donate $2,000 to the Grimes Flying Lab Foundation, $2,000 to the GrandWorks Foundation/Gloria Theatre, and $1,000 to the Champaign County 4-H Committee.

During an employee meeting on Wednesday, Tom Duggan, senior director/plant general manager, presented the donations to representatives from all three organizations. On hand to accept the checks were Randy Henson, vice president of the Grimes Flying Lab Foundation Board; Lydia Hess, GrandWorks Foundation administrative manager; Diane Jess, Champaign County 4-H Committee treasurer; and Melinda Morrison, Champaign County OSU Extension director/4-H educator.

Honeywell Aerospace employees also decided to put aside $1,000 from the auction to be used to bid on livestock at the Champaign County Fair in August.

While not at the same scale as the parking space fundraiser, the Game Changers Employee Club raises funds for different organizations throughout the county on a monthly basis.

“They sell awareness ribbons and badge buddies that employees are able to wear on their badge lanyards that gives them a casual dress pass for the month,” Shockey said.

Joshua Keeran may be reached at 937-652-1331 (ext. 1774) or on Twitter @UDCKeeran.