As June brought the end of Spring, it also kicked off the beginning of Summer. While we will miss the cool days of May and June, we welcome the activities and opportunities a Summer in the Peoria area provides.
This transition is similar to the change the Economic Development Council welcomed at our annual meeting in June. Both at the annual meeting and in the pages of our Annual Report, we celebrated the success and business growth of the past year, while welcoming the opportunities and possibilities available to us in the coming year.
The 2000-2001 Annual Report features recognition of the accomplishments of our Business Achievement Award winners: CMFI Group, Gallatin River Communications, and the Washburn Grocery Association. While the services these companies provide are varied, each company’s focus centers on innovation and involvement, keeping the customer and community the primary considerations.
Also in the Annual Report is updated information on the increased activity of Foreign Trade Zone 114. December 2000 marked the 16th year of continuous foreign trade zone operation at Peoria’s U.S. Customs Service Port of Entry.
The presence of FTZ 114 remains a tremendous asset to this area, enabling companies to operate competitively in the global market while growing and expanding locally.
- DuPont benefited from improved cash flow and inverted tariff benefits during its first year of subzone operation, resulting in a substantial contribution to increased sales in the domestic and global market.
The additional activity generated by subzone designation will stimulate local economy and result in lower costs of production for the company.
- Mitsubishi is seeking approval of a 231,227-square-foot boundary modification, which would enable Mitsubishi to begin production of sports utility vehicles.
- The EDC assisted CDO Distribution in the request and subsequent approval of a boundary modification to transfer their general purpose zone to a new 200,000-square-foot cross dock operation at the Greater Peoria Regional Airport.
While celebrating past accomplishments, we also look forward to a promising future. The EDC welcomes the 2001 board and a new chairman, Joe Henderson. Along with the inauguration of new leadership for the EDC comes the launch of a fresh new look for the EDC’s Web site.
Watch for a new and improved Web site featuring a sharp new image, updated information, and easier accessibility. These features are paramount in making the EDC Web site an efficient and useful tool for visitors.
We invite you to visit www.edc.centralillinois.org and browse through its informative pages. The central Illinois area has much to offer and be proud of—the Economic Development Council aims to use the Web site as another way of sharing this message with the world. IBI