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Pembroke Township Small Business Incubator Proposal to the

Pembroke Township Small Business Incubator Proposal to the

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Pembroke Township Small Business Incubator Proposal to the

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  1. Pembroke Township Small Business Incubator Proposalto the U.S. Department of Commerce Economic Development Administration

  2. Welcome to Pembroke Township, IL

  3. Pembroke Township…. • Is a community of 2,784 people in Illinois’ Kankakee County. • Has a per capita income of $9,642. • Has an unemployment rate of 11.1%. • Has 34.9% of its residents living below the poverty level.

  4. A history of broken promises and abandoned hope.

  5. Pembroke Township has a renewed dedication to… • Creating higher wage jobs; • Improving the region’s human capital; • Generating a business tax base; • Improving the area’s quality of life;

  6. Pembroke has recently been successful in attracting private investment

  7. And hopes to take advantage of future regional developments

  8. New local leadership taking control • Pembroke Township recently formed a Economic & Community Development Agency to serve as the catalyst for this campaign. • Pembroke has also developed its initial comprehensive economic development plan (funded by EDA).

  9. Near-term Initiatives • Improved health care facilities; • Modern telecommunications infrastructure; • A comprehensive education/workforce development plan; and

  10. A Small Business Incubator

  11. Renovation and re-use of an existing facility The facility is owned by the Pembroke Township and is located at 13581 E. Central St. The immediate past tenant was the Nestle Company. A 2005 independent appraisal valued the building at $349,568.00 ($16 per square foot).

  12. Located on 10.2 acres of land. • The building is 21,848 total square feet, but can be expanded. • Currently has 5 overhead doors and loading docks.

  13. 2,924 Square feet dedicated to offices, bathrooms and storage

  14. Would be similar to existing facilities in Decatur, Illinois

  15. And Chicago, Illinois

  16. Benefits • The reclassification of the Ken Hayes Industrial Park in Kankakee, IL causes an incubator shortage in the region. • Potential tenants have already been identified. • The facility was recently used on a daily basis. • Will require minimal necessary repairs. • Could generate approximately 50 direct and 20 indirect new jobs.

  17. Services & Amenities • Reduced rent • Advanced telecommunications system • Professional service support • Shared secretarial support • Shared shipping services • On-site management

  18. Operational Issues • Will have three full-time, on-site staff Executive Director Office Manager Engineer • Will utilize some part-time staff • Annual operating budget of $200,000 • Will fund operations through rent, grants and professional service fees.

  19. Renovation Issues • Increase the water capacity to the building. • Repair the roof and make minor exterior and interior repairs. • Construct 10 rentable business units 1 – 5,000 square feet 4 – 2,500 square feet 5 – 1,000 square feet

  20. Presentation prepared by Community Network Development Partnership on behalf of Pembroke Township, IL