MORRIS – Right now, it's known only as Project DC3, but it could mean more than 600 jobs, and the largest industrial building in Grundy County. Nancy Norton, president and chief executive officer of Grundy County Economic Development, informed the Grundy County tax committee Wednesday that a private corporation is looking to possibly open a large distribution center in Grundy County.
Right now, it is looking at six potential sites, she said, including one in Minooka and one in Morris. The company is keeping itself private, which Norton said is very common for her industry and this type of business.
What does it mean for Grundy County?
"It's a scoresheet buster," Norton said. The company's application said it could bring 618 jobs - including 100 office and management positions - it would be willing to sign a 20- to 25-year lease on the property and is looking at a $170-180 million total investment.
Norton said the company was seeking proposals for incentives from the sites it was considering. The committee was open to negotiating with the company.
"I think we need to be creative is we want to stay competitive," said county board member, and tax committee vice chairman, Mike Onorato (D-District 3). "This is a substantially large project."
A 2.1-million square foot building would be more than twice the largest building Grundy County currently has. The economic impact was not lost on anybody in the room.
"Within five years, you could have someone paying $2 million in property taxes," Norton said.
Norton was looking for direction from the committee, whether or not she should proceed with the negotiations and what the county was willing to consider as far as incentives.
There was no motion or vote, but the consensus of the committee was that it would be open to provided incentives and open to a longer agreement that it's usual five years.