Existing Business Growth Outpaces New Development for the First 8 Months This Year

The City of Edwardsville received $30,935,343 in new business/commercial permits for the first 8 months of 2019. This compares to $17,307,150 in new business/commercial permits from new development and companies entering the Edwardsville market for the first time.

 

These numbers are not usual, said, Walter Williams-Economic Development Director. “Existing business growth should account for 60 to 80% of new job growth and new investment.  Edwardsville provides an ideal location for business growth with our skilled workforce, robust transportation routes, and stable community. Supporting business growth and development is a core economic development function that helps to diversify and strengthen our local economy.”

 

Arguably the biggest existing business growth belongs to Hershey.  Hershey added nearly 300,000 square feet onto the existing warehouse distribution facility in Edwardsville.  The 292,410-square-foot expansion increases the existing plant’s size from an original 1.1 million square feet to nearly 1.3 million square feet. The cost of this project is valued at $4,535,765.

 

Stillwater Senior Living is expanding from 46 living units and 40 employees to 80 units and add 32,000-square-feet by winter 2020. This addition will be built behind the current building.  The new addition will cost $5 million and add at least 20 new employees.

 

Donco will pump $2,155,000 into the local economy by building on an addition to their existing facility. Once completed Donco will hire an additional 50 employees.

 

Amazon is spending $1,900,000 in the Lakeview Commerce Center location retrofitting this facility to handle large item distribution (pianos, televisions).

 

Target is leading the way in sustainable operations and recognizes that meeting their energy needs through solar is good for the community and environment. The Edwardsville Target is spending $705,224 in solar panel to reduce their energy costs It is anticipated that their rooftop solar project will generate enough energy to offset between 15 and 40 percent of a property’s energy needs.

 

Smaller, locally owned business like McDonald’s, Kettle River, Cassens, Joe Pizza, Culvers also made sizeable investments into their current businesses operations.

 

We recognize that business is at the heart of our success as a city.  That’s why throughout the various city departments, we make every effort to make doing business in Edwardsville as attractive and trouble-free as possible. These new investments from existing businesses bodes well for the future of the city’s employment opportunities and its continuing economic strength.  The proof is in our success, said Hal Patton-Mayor City of Edwardsville.

 

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