Trader Joe's eyes EDPA 1 for distribution facility
County also agrees to term sheet with Rock Island Clean Line regarding converter station in EDPA 1
After sitting practically idle for years after its creation, Grundy County’s Economic Development Project Area #1 could soon be a very busy place.
The Grundy County Board on Tuesday, during its last regular meeting of the current fiscal year, approved a resolution extending a tax rebate to Trader Joe’s East, which has plans to site a distribution center within the zone created in 2006. The rebate would provide for 50 percent of the company’s taxes to be returned each year for four years after the facility becomes operational.
Also on Tuesday, the board approved a term sheet with Rock Island Clean Line regarding its plans for the development of an electric converter station within EDPA No. 1. The term sheet describes the terms and conditions upon which Rock Island is proposing to construct the converter station, which will serve Rock Island’s planned 500-mile long electric transmission line.
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