December 4, 2008

Village of Pleasant Prairie Makes Million Dollar Economic Development Investment

Kenosha Area Business Alliance Press Release

The Village of Pleasant Prairie , in a sign of continued support for economic development, has invested $1 million in the Kenosha Area Business Alliance (KABA) Revolving Loan Fund (RLF) program. KABA, the area's public/private economic development partnership, has worked closely with the Village of Pleasant Prairie and WISPARK to support the development of LakeView Corporate Park and other sites within the Village's Tax Incremental District #2 (TID #2), which encompasses most of the commercial and industrial properties within the Village.

The Village recently amended the Project Plan for TID #2 to complete necessary infrastructure improvements associated with the development of Uline, Inc.'s headquarters and corporate campus. The Project Plan provided for the $1 million for investment in the KABA RLF program. The investment increases the capacity of the program, which has become a critical component for the Village as it competes for high-quality economic development projects.

The Village of Pleasant Prairie has consistently demonstrated a progressive approach to economic development with investments in LakeView Corporate Park , LakeView RecPlex, property acquisition along Interstate 94, and the extension of infrastructure west of the Interstate to serve the Uline and Abbott Laboratories campus developments. LakeView Corporate Park has been an economic engine for Southeastern Wisconsin and is now home to more than 85 companies that employ over 7,300 workers.

KABA successfully manages several economic development revolving loan fund programs consisting of federal, state, and local monies on behalf of the Village of Pleasant Prairie , as well as Kenosha County , the City of Kenosha , and other local units of government. These funds are used to extend favorable financing packages to new and expanding companies to support economic growth both in the Village of Pleasant Prairie and throughout Kenosha County . With this latest contribution, total assets under KABA management now exceed $27.5 million.