ROCKFORD, Ill. (WIFR) – A proposed project could serve as a means to support industrial growth near the Chicago Rockford International Airport.
Hillwood, a real estate and development company out of Dallas, Texas, secured a portion of land in south Rockford to develop a more than 330,000-square-foot speculative industrial building.
At Monday night’s city council meeting, the Planning and Development Committee approved the construction near the US-20/IL-2 interchange, which is supported in part by a Department of Commerce and Economic Opportunity (DCEO) Site Readiness Grant.
Once completed, the city says the project is anticipated to create construction and permanent jobs and generate new long-term property tax revenue following the TIF period…