GBEDC Annual Report 2013 - Greater Beloit Economic

THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION
ANNUAL REPORT 2013
The Greater Beloit Economic Development Corporation
500 Public Avenue
Beloit, WI 53511
ph: (608) 364-6748
fx: (608) 364-6756
www.greaterbeloitworks.com
www.greaterbeloitworks.com
ORGANIZATIONAL
MISSION & VISION
STATEMENTS
Mission Statement
The mission of the Greater
Beloit Economic Development
Corporation (GBEDC) is to act
as the primary organization
coordinating, facilitating and
implementing economic
development activities in the
Greater Beloit area.
Vision Statement
We will be a broad-based,
public/private partnership that
creates a common focus for
economic development
activities in Greater Beloit.
Guiding Principles
GBEDC seeks to fulfill its
mission by:
Promoting a positive
image of the area including
our industries, workforce,
educational institutions
and quality of life.
Developing regional
cooperative and collaborative partnerships with
public and private bodies to
support the local workforce
and existing businesses.
Developing a diverse
group of leaders to actively
build on our community’s
successes and continue to
enhance our local economy.
Promoting the growth of
existing and new business
to build an economic
environment that will
enhance our local
economy.
Working together to
develop and recruit a
skilled workforce to fill the
knowledge-based needs of
today’s businesses and
create tomorrow’s jobs.
www.greaterbeloitworks.com
FELLOW INVESTORS
LEADERSHIP TEAM
‘13 Board & Committee Members
We are all feeling the optimism of a renewed economy that is
showing signs of recovery. Signs of this can be seen all around
the Greater Beloit Region. The planning and strong partnerships
created by the GBEDC and the Vision partners have positioned
the entire region to grow out of a bad economy faster than
many other areas. We continue to strengthen our partnerships
with the City of Beloit, South Beloit, and Town of Beloit and
Joe Stadelman,
with the Greater Beloit Chamber of Commerce, Visit Beloit, and
‘13 Board Chair
Downtown Beloit Association through shared vision and planning for the future of the region. One partnership that is specifically noteworthy is our
shared work with Rock County 5.0 in promoting the region and all the benefits we offer to a growing company looking to expand or locate in this central and vital location
of the Midwest.
BUSINESS INDUSTRY
Tom Finley, President
Finley Dencker Buick GMC
SCHOOL DISTRICT OF BELOIT
Steve McNeal, Superintendent
School District of Beloit
Kent Eymann, Publisher
Beloit Daily News
EDUCATION AT-LARGE
Brian Morello, Director of CELEB
Beloit College
Investment in support of our organization continued to be strong and active in 2013.
We have accomplished a great deal through the efforts of our seven very active committees that oversee our initiatives. We continue to promote the economic goals of the
Beloit Area and our investors through:
Pete Underwood,
V.P./General Counsel/Secretary
Regal Beloit
Improved web presence, offering corporate links to our investor’s organizations.
Continued collaboration with the school districts in the area, supporting the
opportunities and diverse education our students need to succeed in the 21st
century.
Support of the concept of the confluence of the Rock River and Turtle Creek as a
destination for the region offering financial and intellectual resources.
Working with the vision partners to create a new marketing vision and position
that will enhance each of our organizations efforts and roles in the community.
It has been a pleasure to chair the GBEDC Board for the past two years. Our shared
vision can be seen in all of the economic growth, business development, and companies that are choosing to reinvest in Beloit or call this their new home. Personally, it has
been very rewarding to work closely with so
many people and organizations that all share
one vision for the betterment of the region
we all call home. Thank you to each of you
for your continued efforts and support of the
Beloit region.
‘13 Executive Committee Members, pictured
from left to right: Mike Duffy (At Large Representative), Ed Hansen (Secretary/Treasurer),
Larry Arft (Local Government Jurisdiction
Representative), Joe Stadelman (Chair), and
Rick Barder (Business/Education Partnership
Committee Chair). Not pictured: Keith Kruse
(Vice Chair), Rick Bastian (Business Development
Committee Chair), Jeff Klett (Investment/Recruitment Committee Chair), and Joel Patch (Strategic Planning Committee Chair).
James Egan, Director of Employee
Communications and Engagement
Kerry Ingredients & Flavours-Americas
John Patch, President
McBain Enterprises, Inc.
Joe Stadelman, Vice President
Angus-Young Associates, Inc.
Jim Zisser, Project Manager
Frito-Lay
AT-LARGE
Mike Bua, Finance Director
Beloit Health System
Dr. Thomas Eckert, President
Blackhawk Technical College
Fred Buggs, Chief Professional Officer
Stateline Boys & Girls Club
Jeff Klett, Vice President of Benefits
Tricor Inc.
Rob Gerbitz, Managing Director
Hendricks Development Group
LOCAL GOVERNMENT
Larry Arft, City Manager
City of Beloit
Curt Lansbery, President
North American Tool Corporation
Roger Anclam, Chairperson
Town of Turtle
Keith Kruse, V.P., Director of Operations
Tricor Inc.
Mike Duffy, Mayor
City of South Beloit
REAL ESTATE/DEVELOPERS/
CONTRACTORS
Jerry Klobucar, Vice President
Klobucar Construction Co., Inc.
Brian Wilson, Administrator
Town of Beloit
Joel Patch, Partner
Commercial Property Group, LLC
EX-OFFICIO
Aimee Thurner, Director of Operations
Greater Beloit Chamber of Commerce
Frank McKearn, President
R. H. Batterman & Co., Inc.
Monica Krysztopa, Executive Director
Visit Beloit
FINANCIAL INSTITUTIONS
Arlyn Erdmann,
Vice President of Commercial Loans
First National Bank
Brian Anderson, V.P. of Business Banking
BMO Harris Bank
Rick Bastian, President and CEO
Blackhawk Bank
Ed Hansen, V.P. of Business Banking
Gateway Community Bank
Shauna El-Amin, Executive Director
Downtown Beloit Association
Stephanie Jacobs, Representative
Community Development Authority
Bruce Kepner,
Economic Development Specialist
Alliant Energy
Mardell Jacobsen, Representative
Plan Commission
Tara Tinder, Executive Director
Stateline Community Foundation
‘13 OFFICERS &
EXECUTIVE COMMITTEE
Chair
Joe Stadelman
Vice Chair
Keith Kruse
Secretary/Treasurer
Ed Hansen
Local Government Jurisdiction
Larry Arft
Designated Loan
& Finance Committee Member
Arlyn Erdmann
Investment/Recruitment
Committee Chair
Jeff Klett
Strategic Planning
Committee Chair
Joel Patch
Business Development
Committee Chair
Rick Bastian
Business/Education Partnership
Committee Co-Chair
Rick Barder
At Large Representative
Mike Duffy
STAFF MEMBERS
Andrew
Janke
Executive
Director
GBEDC
Stephanie
Bailey
Administrative
Assistant
GBEDC
‘13 INVESTORS
ABC Supply
Alliant Energy
Amcraft Building Products
American Aluminum Extrusion
Company
Gilbank Construction
THE YEAR IN REVIEW
Greater Beloit’s Economy is Still Moving Forward
American Construction Metals
American Industrial Steel Supply
Angus Young Associates
Avid Pallet
Axium Foods/McCleary, Inc.
Beloit Box Board
Beloit College
Beloit Daily News
Beloit Health System
Beloit Snappers Baseball
Beloit Special Machining Co.
Blackhawk Bank
Blackhawk Logistics
Blackhawk Technical College
Blackhawk Transport
BMO Harris Bank
Brabazon Title
Brian Mark Funeral Homes
Budweiser Motors
Business Outreach Services —
UWWhitewater
City of Beloit
City of South Beloit
Coldwell Banker Commercial/
McGuire Mears
Commercial Property Group
Corporate Contractors Inc.
Cotta Transmission
Culvers, The Rock,
Papa Murphys
Diamond Foods, Kettle Brands
As the economy continues to see improvement
the Greater Beloit area was fortunate to see major industrial and commercial activity across the
entire region. Projects of significance included:
Ironworks: The Beloit
Ironworks is going through a
$38,100,000 renovation to
make it a state-of-the-art manufacturing facility. The complex
will get new windows, flooring,
lighting, electrical and other
amenities as part of its renovation.
Harris Ace Hardware
struction is expected to begin
by the end of the year.
Hendricks Commercial Properties
LLC
Beloit Health
System: Beloit Health System, in partnership with UW
Health System, broke ground
in April on a new-state-of-theBeloit Health System Cancer Treatment Center
art Cancer Treatment Center.
The new 18,000 square foot
facility is located on a 5-acre site at the corner of Lee Lane and Milwaukee Road.
Total investment in the project will be $11,600,000. Construction is expected to be
completed by the end of the year.
GBEDC staff and volunteers spent a great deal of time and effort in 2013 working on a
number of Strategic Collaborations including:
Efforts to explore the development
of an Urban Ecology Center
Frito Lay
CCI/Blackhawk Transport
J.P. Cullen & Sons
Kerry Americas
Klobucar Construction, Inc.
McBain Enterprises, Inc.,
Allied Games
Merrill & Houston’s Steak Joint
Mid States Concrete
MLG Development
Neighborhood Housing Services
The City of Beloit &
The Greater Beloit Economic
Development Corporation
North American Tool
Downtown Rental Assistance
Program
PRIDE Associates
Educational Initiatives
Regal-Beloit, Durst
500 Public Avenue | Beloit, WI 53511
Direct: 608 364.6748
JankeA@ci.beloit.wi.us
Design and publication of a new
Gateway Business Park Brochure
Production and installation
of new Gateway Business Park Real Estate Signs
The GBEDC continued its collaboration with Rock County 5.0, an organization that has
raised more than $1 million to help economic development organizations implement a variety of strategies to better position Rock County moving forward. A number of initiatives
were completed in 2013 included the “Rock Ready Phase II” marketing campaign that
was launched this fall, the continuation of the quarterly Rock Ready Index and a comprehensive marketing campaign targeting the Chicago area market. A video promoting Rock
County Real Estate opportunities was also completed in 2013.
R. H. Batterman & Co., Inc.
River’s Edge Foundry LLC
Rock County Electric
Cooperative Assoc.
Seven Waters LLC
School District of Beloit
School District of Beloit Turner
Shorewest Realtors
Siepert & Co. LLP
Sikich LLP
Stainless Tank & Equipment LLC
Stateline Boys & Girls Club, Inc.
Stateline Community Foundation
Summit Machine Works, Inc.
Two new major development projects announced in 2013 included:
CCI/Blackhawk Transport H.Q. Project: CCI and
Blackhawk Transport are looking to
relocate from their present facilities
into a new consolidated office building to be constructed on Townhall
Road. The two story building will be
16,000 square feet and construction
cost is estimated at $1,700,000. Con-
Hormel Foods Corporation
A Joint Development Between
Downtown Façade Grant Program
Beloit Ironworks
Henry Technologies
Mule-Hide Products
Upper Floor Housing Grant Program
FOR MORE INFORMATION, CONTACT:
Andrew Janke, CPM
Executive Director
Hendricks Holding Company LLC
Morse Group
The Gateway Business Park
offers a central Midwest
location with
direct interstate access to
Chicago, Minneapolis, and
Milwaukee.
Beloit is a community with
a large and diverse workforce,
as well as a rich industrial
heritage.
Universal AET: Universal AET is a manufacturer of acoustic silencers, emissions, and filtration technologies. The company recently announced that they were
expanding their foot print in the Beloit Ironworks by 106,000 square feet and have
an option to add an additional 67,000 square feet. The company currently employs 17 individuals and plans to add 50 new positions. The company is investing
$3,000,000 into the project.
First National Bank & Trust
www.greaterbeloitworks.com
Total Investment....... $213,217,658
Woodman’s Foods: Woodman’s Foods announced in May that they will
be adding a 22,546 square foot addition to their warehouse located on Madison
Road. Total investment will be $3,500,000 and construction is expected to be completed in 2014.
Finley Dencker Buick GMC
Genencor International
New Jobs.............................. 365
Beloit Inn: The Beloit Inn (now the Ironworks Hotel) is undergoing a complete
renovation that includes: totally remodeled rooms, a new covered entry way, new
registration desk, remodeled conference rooms and common areas. A total of
$3,800,000 is being invested into the project.
Fairbanks Morse Engine
Gateway Community Bank
Projects................................... 21
Square Footage................339,660
Beloit Precision: Beloit Precision
purchased 3.4 acres from the City of Beloit. The site is immediately adjacent to their I-90 Industrial Park location. The company intends to build a new 18,000 square foot facility on the site with construction
beginning in the spring of 2014. The expansion project will create 3-4 new jobs.
Electrol Specialties Company
G. G. Grabowski CPA, SC
‘13 RECAP
Greater Beloit Chamber
of Commerce
The Beloit Inn
Town of Beloit
TRICOR Insurance
Visit Beloit
Welders Supply Company
Dale Hjerpe
Developer & Real Estate Broker Open House
Rick Barder
OUR FOCUS
The GBEDC organizes economic
activities in the Greater Beloit
area focusing on: Industrial and
Commercial Development,
Package Incentives, Marketing,
and Job Training. The GBEDC
acts as a liaison to resources that
provide for business retention
and expansion as well as new
businesses, creating and retaining jobs while increasing the tax
base. Acting as a voice for the
business community, we facilitate
professional partnerships with
local government agencies, utility
companies, realtors, and public
and private entities. We also
provide value-added services
tailored to meet the needs of
members and the community,
including financial assistance.
OUR INVESTORS
Our investors are communityfocused organizations and
individuals that support the
organization’s mission to foster
economic growth in the Greater
Beloit area. As a public/private
partnership, the GBEDC strives to
be comprised of small and large
employers, professional service
and retail businesses, community
organizations, and private
individuals in the Greater Beloit
area.
INVESTOR BENEFITS
Recognition as a strong
corporate citizen who supports
professional economic development and a higher standard of
living and quality of life for the
Greater Beloit area. Networking
opportunities with other businesses to create, retain, and
expand business opportunities
and markets within the Greater
Beloit area. Involvement in
implementing new strategies
that will strengthen and grow
our community. Opportunity to
serve on the Board of Directors.
Investors may actively volunteer
on one or more of the standing
committees including: Loan and
Finance, Recruitment/Investment,
Strategic Planning, Business
Development, and Business/
Education Partnership.
www.greaterbeloitworks.com
INDUSTRIAL
LAND DEVELOPMENT
SITE SELECTION
(THE YEAR IN REVIEW CONT.)
In September, the Rock County 5.0 Partners collaborated on hosting a Real Estate and
Broker open house event that was held at the Ironworks Hotel in Beloit. Over 70 development professionals gathered to be introduced to the Rock County Development Team,
learn about the trends and opportunities in the market place, sign MOU’s to become
qualified to receive commissions on sales of qualified industrial sites in Rock County, and
to view the premiere of our newest promotional video of Rock County Real Estate opportunities.
Associated Bank
Infrastructure development projects of note that were announced, began or were completed in 2013 included:
Beloit Health
Systems Cancer
Center
The widening of I-39/90 from 2 to 3 lanes from the Stateline to
Madison is well into its design phase. The project will include the reconfiguration
and reconstruction of the I-39/90 and I-43 interchange. Public meetings on the
project will occur in late 2013. Construction is anticipated to begin in 2015 and is
expected to be completed by 2021.
Woodman’s
Expansion
Casey’s General
Store
The Phoenix Project
Beloit Inn
Renovation
(Ironworks Hotel)
Shoreline stabilization along Riverside Park.
Qdoba Mexican Grill
and Retail Space
The School District of Beloit continued work on
several school renovation projects as part of their 2012-2013 $70 million facilities
referendum.
2850 Milwaukee Road
Strip Center
Photo Source: Beloit Daily News
GBEDC’S FOCUS
& INVESTORS
Gateway Business
Park: Gateway Business
Park is a mixed-use park located
to the east of I-90 and just south
of I-43 in Beloit, Wisconsin.
We currently have 229.5 acres
available for development and
for you to view at your convenience. This site is now designated as Certified Shovel Ready.
For more information about this
designation and this development, visit our website at
www.greaterbeloitworks.com.
Ironworks Renovation
One major development project completed in 2013 represented the creation of 9 new
jobs, a total private investment of over $750,000, and added 8,000 square feet.
That is:
Beloit Precision
Expansion
South Beloit Inn
Metso Corporation
Clark Station
Other development projects that
are under construction, or have
been announced in 2013 will
add an additional 356 new jobs,
result in the private investment of
$212,467,000 and add an additional 331,660 square feet. These
projects include:
Casey’s General Store
2850 Milwaukee Road Strip Center
U.S. Cellular
NorthStar Medical Radioisotopes
DuPont
Between completed and announced
projects, the region can anticipate the
creation of 365 new jobs, the addition of 339,660 square feet, and private investment contributions totaling
$213,217,000.
The Phoenix Project
CCI/Blackhawk
Transport H.Q.
Project
Clark Station
Associated Bank
Piggly Wiggly
Cherry Tree Assisted Living
First National Bank and Trust Annex Building
Universal AET
Piggly Wiggly
Willowbrook
Business Park:
Willowbrook Business Park is
located at the intersection of
Willowbrook Rd. and E. State
Line Rd. in Beloit, Wisconsin.
We currently have a 31 acre
parcel available for you to view
at your convenience. For more
information about this development, visit our website at
www.greaterbeloitworks.com.
‘13 COMMITTEES
EXECUTIVE COMMITTEE
The Executive Committee shall
be comprised of not more than
eleven (11) members.
Joe Stadelman – Chair
Keith Kruse – Vice Chair
Ed Hansen – Secretary/Treasurer
Larry Arft
Jeff Klett
Joel Patch
Rick Bastian
Rick Barder
Mike Duffy
BUSINESS DEVELOPMENT
COMMITTEE
The Business Development
Committee shall be comprised
of not more than nine (9). Three
(3) of whom shall be members
of the Board of Directors.
COMMITTEE REPORTS
INVESTMENT/RECRUITMENT COMMITTEE:
We continue to add new members/investors in the Greater Beloit Economic Development
Corporation (GBEDC). Our membership is vibrant and committed to the future development of the Greater Beloit Area. Members/Investors want to be part of the future and are
actively involved in developing not only new business in the area but also the retention
and expansion of existing businesses.
In addition to being part of the solution in expanding on the economic opportunities of
the Greater Beloit community, members also realize the following:
Our committee remains very active in supporting the local School Districts in their quest
to give our future workers the tools needed to compete in the workforce. The 7th annual
Business/Education Summit was held in August with the theme being “Workforce Development—Are You Ready.” The Lunch & Learn programs at Beloit Memorial High School,
as well as Aldrich and McNeel Middle Schools, are being replaced by the new “Inspire
Rock County” online Career Cruising Initiative. There will be more than 350 students at
Beloit Memorial who will participate in this year’s Mock Interview Program. Plans for the
6th annual Reality Store are underway where students are given real-life scenarios and
have to manage a household budget.
Our committee also will be partnering with the Greater Beloit Chamber of Commerce and
The School District of Beloit on the Annual Career Fair. We will continue to support “Challenge Day,” which is an anti-bullying and self-esteem program.
—Rick Barder & Jim Agate, Committee Co-Chairs
Recognition as a supporter of economic development in the Greater Beloit Area.
Networking opportunities within the business community.
Involvement in developing and implementing new strategies that will strengthen
and grow our community.
Rick Bastian – Chair
Kent Eymann
John Franks
Jeff Hazekamp
Bill Lock
Frank McKearn
Mark Membrino
Jerry Klobucar
Alice Schoonover
Opportunities to serve on the Board of Directors or committees.
Register your business on our website, a great way for new companies in the
area to find out who you are. Also a great place to advertise.
Monthly E-Newsletters.
Participation in the annual meeting.
INVESTMENT/RECRUITMENT COMMITTEE
The Investment/Recruitment
Committee shall be comprised
of not more than seven (7) members. One (1) being designated
the Chair of the Committee.
The stability and growth of our Members/Investors are the lifeblood of our organization
and as we continue to grow, will bring us more new business and job opportunities in this
wonderful place we call home.
Jeff Klett – Chair
Fred Buggs
Keith Kruse
Bill Lock
Brian Mark
Bill Mears
Gene Ziemba
LOAN AND FINANCE COMMITTEE:
—Jeffrey W. Klett, Committee Chair
There currently are five (5) traditional loans outstanding, which total more than
$171,000, as part of the City of Beloit’s Revolving Loan Fund (RLF) program. The original
balances of these loans were $286,000, and all but one has been handled according to
the terms of the loan agreement.
We approved one new loan of $30,000 to a downtown business. There are no current
or pending applications and there remains over $271,000 available to be distributed
to qualified City of Beloit businesses. Our loan applications, as well as other program
details, are outlined on our web site page at www.greaterbeloitworks.com, making this
information available to all potential loan applicants.
www.greaterbeloitworks.com
BUSINESS/EDUCATION PARTNERSHIP COMMITTEE:
—Ed Hansen, Committee Chair
BUSINESS DEVELO
PMENT COMMITTE
E:
As the economy continu
es to improve, the Grea
ter Beloit area has bene
from a number of comm
fitted
ercial and industrial pro
jects that have broaden
industrial base, enhanc
ed its
ed employment opportu
nities for area residents
supported transformation
, and
al improvements in the
urban gateways and city
center.
DuPont is nearing the en
d of its $30 million expa
nsion project. Metso Pa
completed and Beloit Pre
per has
cision has started expa
nsion plans in the I-90
Park. New projects inv
Industrial
olving the Beloit Health
System, Cherr y Tree As
Living, Piggly Wiggly an
sisted
d Casey’s General Store,
among several, have pro
millions of dollars of inv
vided
estment in the Beloit are
.
The transformation of do
wntown Beloit has receiv
ed an enormous boost
the Phoenix Project which
from
is nearing completion.
The GBEDC’s partnership
Beloit 2020 and the Cit
with
ies of Beloit and South
Beloit on the Turtle Cree
Redevelopment Plan sho
k
Co
rri
dor
uld complement and en
hance this and other de
ment opportunities in the
velopdowntowns of both cities.
In the ver y competitive
world of economic devel
opment, our committee
valued the importance
has
of marketing. To enhanc
e the look, feel and utility
our website and optimize
of
our web presence, we ha
ve committed to a comp
redesign of our website
lete
incorporating the latest
technologies in website
optimization and utilizati
design,
on measurement. New
signs, brochures and ad
ments tout the convenien
vertisece and cost-effectiveness
of the Gateway Business
Park.
With the help and comm
itment of a small, but de
dic
ated staff, much has be
accomplished. There is
en
still much to do.
—Rick Bastian, Committe
e Chair
BUSINESS/EDUCATION
PARTNERSHIP
COMMITTEE
The Business/Education
Partnership Committee shall be
comprised of a co-chairperson
representing GBEDC and a
co-chairperson representing the
GBCC and no set maximum
number of members.
Jim Agate – Co-Chair
Rick Barder – Co-Chair
LOAN AND FINANCE
COMMITTEE
The Loan and Finance
Committee shall be comprised
of seven (7) members, at least
three (3) of whom shall be Board
members. No more than four
(4) of these members shall be
members of the financial services
business sector.
Ed Hansen — Chair
Rick Bastian
Arlyn Erdmann
Rob Gerbitz
Tom Finley
NOMINATING COMMITTEE
The Nominating Committee shall
be comprised of the immediate
past chair (Committee Chair) of
the Board of Directors, and at
least two (2) additional
members.
John Nicholas – Chair
Tom Barnes
Rob Gerbitz
STRATEGIC
PLANNING COMMITTEE
The Strategic Planning
Committee shall be comprised
of the Chair of the Board, Vice
Chair of the Board and six (6)
additional members who shall be
investors of the Corporation.
Joel Patch – Chair
Keith Kruse
Joe Stadelman
Brian Wilson
Gary Meier
Shauna El-Amin
BALANCE SHEET
(As of October 31, 2013)
ASSETS
Current Assets
Checking/Savings
CD #1
50,452.04
CD #2
50,375.69
CD #3
50,565.22
Checking #2—BMO
23,677.03
Money Market—BMO
114,593.85
Total Checking & Savings $289,663.83
Other Current Assets
Prepaid Insurance
Total Other Current Assets
Total Current Assets
960.37
960.37
290,624.20
$
Fixed Assets
520 E. Grand—Equipment 6,612.74
Accumulated Depreciation (99,751.74)
Building Improvements—
520 E. Grand (at cost)
190,873.00
Building—
520 E. Grand (at cost)
140,000.00
Computers & Related Items 5,175.00
Land—
520 E. Grand (at cost)
25,000.00
Software
3,200.00
Vision Beloit—Furniture
7,175.48
$
Total Fixed Assets
278,284.48
Total Assets
568,908.68
$
LIABILITIES & EQUITY
Long-Term Liabilities
Contra Current Mat—FNB (1,869.80)
Current Mat—FNB
1,869.80
N/P—City of Beloit
12,075.00
N/P—FNB
120,836.99
Total Long-Term Liabilities $132,911.99
Total Liabilities
Equity
Retained Earnings
Net Income
Total Equity
Total Liabilities
& Equity
132,911.99
$
421,695.21
14,301.48
$
435,996.69
$
568,908.68
FINANCIAL REPORT
October
2013
Actual
Income
Billboard Lease (Lamar)
Business Education Summit
Crop Lease
Interest Income
Investor Dues
Other Income
Rental Income—520 E. Grand
Total Income
2013
Annual
Budget
4,500.00 2,500.00 60,702.00 600.00 66,000.00 0.00 3,200.00 $
137,502.00 4,500.00
2,167.44
30,349.65
254.31
61,050.00
735.68
1,200.00
$
100,257.08
expense
Accounting/Audit
Advertising & Marketing
• Food Cluster Mktg*
Bus/Educ Initiatives
• Financial Literacy
• Connections
• Summit
• ACT Funding
• BTC Funding
• Challenge Day
• Discretionary Fund
Contingency
EDA Grant Match
Insurance—D&O
Insurance—Liability
Legal Fees, Filing Fee, Etc.
Loan Interest—FNB
Loan Payment #2—CDBG
Meals & Entertainment
Meeting Expense
Office Supplies
Professional Services
• Sub Area Plan*
Project Signs
Rent/Utilities
Repairs—520 E. Grand
• Furnace*
Special Projects
Staff
Strategic Plan
Subscriptions & Reports
Training/Conference
Travel
Utilities—Signs
UW Engineering Program
Total Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15.00 385.16 0.00 0.00 0.00 0.00 7,000.00 0.00 0.00 1,347.45 0.00 0.00 0.00 6,600.00 0.00 0.00 785.00 0.00 49.80 0.00 $
16,182.41 4,700.00 7,500.00 0.00 0.00 1,000.00 1,000.00 5,000.00 500.00 200.00 1,500.00 1,000.00 0.00 0.00 800.00 2,600.00 250.00 11,980.00 1,500.00 500.00 500.00 5,500.00 12,000.00 0.00 1,000.00 20,000.00 2,000.00 0.00 20,000.00 26,400.00 1,000.00 500.00 4,000.00 3,000.00 620.00 0.00 $
136,550.00 5,094.20
9,318.83
0.00
0.00
0.00
780.30
3,117.83
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2,859.00
89.00
6,669.85
0.00
212.05
0.00
283.05
10,812.00
0.00
0.00
14,336.70
657.28
0.00
7,250.00
19,800.00
0.00
1,169.79
2,195.00
888.23
422.49
0.00
$
85,955.60
Net Income/(Loss)
($16,093.08)
Adjusted Net Income
952.00 $
14,301.48
$
0.00($4,148.00)
$
( 16,093.08)
10,153.48
$
‘14 Proposed Budget
Approved
2011
Annual
Budget
2013
YTD
Actual
0.00 65.00 0.00 24.33 0.00 0.00 0.00 $
89.33 Net Cash Provided by Financing Activities
www.greaterbeloitworks.com
FUTURE PROJECTIONS
‘13 Budget vs. Actual
$
Income
Billboard Lease (Lamar)
Business Education Summit
Crop Lease
Interest Income
Investor Dues
Other Income
Rental Income—520 E. Grand
Total Income
4,500.00
5,500.00
35,000.00
900.00
66,000.00
0.00
0.00
$
111,900.00
Approved
2012
Annual
Budget
4,500.00
5,000.00
60,702.00
600.00
63,000.00
0.00
3,200.00
$
137,002.00
Approved
2013
Annual
Budget
2013
YTD
Actual
Projected
Through
Year-End
2013
Proposed
2014
Annual
Budget
4,500.00
4,500.00
4,500.00
4,500.00
2,500.00
2,167.44
5,471.29
0.00
60,702.00 30,349.65 60,702.00 60,702.00
600.00
254.31
302.31
400.00
66,000.00 61,050.00 64,050.00 65,000.00
0.00
735.68
735.68
0.00
3,200.00
1,200.00
1,200.00
0.00
$
137,502.00 $100,257.08 $136,961.28 $130,602.00
EXPENSe
4,000.00
4,500.00
4,700.00
5,094.20
5,094.20
5,000.00
Accounting/Audit
Advertising & Marketing
5,000.00
5,000.00
7,500.00
9,318.83 10,000.00 12,000.00
Bus/ Educ Initiatives
0.00
0.00
0.00
0.00
0.00
0.00
• Financial Literacy
0.00
1,000.00
1,000.00
0.00
0.00
0.00
• Connections
1,200.00
1,000.00
1,000.00
780.30
780.30
0.00
• Summit
6,000.00
5,000.00
5,000.00
3,117.83
3,117.83
1,000.00
• ACT Funding
500.00
500.00
500.00
0.00
0.00
0.00
• BTC Funding
0.00
200.00
200.00
0.00
0.00
0.00
• Challenge Day
2,000.00
1,500.00
1,500.00
0.00
0.00
1,000.00
• Discretionary Fund
1,000.00
1,000.00
1,000.00
0.00
1,000.00
1,000.00
Contingency
0.00
0.00
0.00
0.00
0.00
0.00
Insurance—D&O
800.00
800.00
800.00
0.00
750.00
750.00
Insurance—Liability
2,600.00
2,600.00
2,600.00
2,859.00
2,859.00
2,900.00
Legal Fees, Filing Fee, Etc.
250.00
250.00
250.00
89.00
89.00
250.00
Loan Payment—FNB
11,980.00
11,980.00
11,980.00
9,369.14 11,238.94 11,220.00
Loan Payment—CDBG
1,500.00
1,500.00
1,500.00
1,500.00
1,500.00
1,500.00
Meals & Entertainment
500.00
500.00
500.00
212.05
350.00
500.00
Meeting Expense
500.00
500.00
500.00
0.00
200.00
500.00
Office Supplies/Printing/Mailing 5,500.00
5,500.00
5,500.00
283.05
2,300.00
5,500.00
Professional Services
12,620.00
12,620.00
12,000.00 10,812.00 11,380.00 10,000.00
Project Signs
1,000.00
1,000.00
1,000.00
0.00
0.00
1,000.00
Rent/Utilities
20,000.00
20,000.00
20,000.00 14,336.70 16,936.00 17,000.00
Repairs—520 E. Grand
2,000.00
2,000.00
2,000.00
657.28
857.28
2,000.00
Special Projects
0.00
15,000.00
20,000.00
7,250.00
9,450.00 20,000.00
Staff
22,000.00
24,000.00
26,400.00 19,800.00 26,400.00 26,400.00
Strategic Planning
0.00
0.00
1,000.00
0.00
0.00
2,000.00
Subscriptions & Reports
500.00
500.00
500.00
1,169.79
1,169.79
2,000.00
Training/Conference
4,000.00
4,000.00
4,000.00
2,195.00
2,700.00
4,000.00
Travel
3,000.00
3,000.00
3,000.00
888.23
1,500.00
3,000.00
Utilities—Signs
450.00
620.00
620.00
422.49
522.49
600.00
Marketing Professional
0.00
0.00
0.00
0.00
0.00 10,000.00
Website Design/SEO
0.00
0.00
0.00
0.00
0.00 14,500.00
$
Total Expense
108,900.00 $126,070.00 $136,550.00 $90,154.89 $110,194.83 $155,620.00
Net Income/(Loss)
3,000.00
10,932.00
$
952.00
$
$
233,208.56
$
244,140.56
$
Balance Carried Forward
$
Total Available
$
10,102.19
$
26,766.45($25,018.00)
$
268,931.70 $289,663.83 $306,328.09 $306,328.09
269,883.70 $299,766.02 $333,094.54 $281,310.09
WISCONSIN
ECONOMIC
DEVELOPMENT
& GROWTH
Within 500 miles of Beloit:
31 percent of the nation’s
population
30 percent of all U.S.
business operations
30 percent of the nation’s
manufacturing companies
38 percent of all U.S.
manufacturing volume
50 percent of the nation’s
top 20 metro manufacturing
centers
Businesses benefit from Greater
Beloit’s strategic location. Our
geographical location on the
Illinois-Wisconsin border —
midway between Lake Michigan
and the Mississippi River — puts
us in the center of the U.S.A.’s
biggest market — the Midwest.
Speedy access to these markets
is provided by the area’s
diversified transportation
systems. Interstate Highways 39,
90, and 43 link the area with
other Wisconsin and Illinois
communities, as well as the
rest of the nation.
We are in close proximity to
two major cities; Chicago and
Milwaukee both are within a
two-hour drive. Greater Beloit
offers ease of access to markets
and suppliers. This is a highly
significant factor in terms of
freight costs and the increased
emphasis on "Just-In-Time"
production.
With its strategic location and
access to markets, Greater Beloit
continually plays a big role in
Wisconsin public economic
development. In short, Greater
Beloit offers firms the right
location to expand or establish
a business.