Galesburg Industry and Economy
A Firm Basis for Growth
Galesburg Regional Economic Development Association (GREDA) is the economic development organization contracted by the City of Galesburg and the County of Knox to bring job and capital creation opportunities to the greater Galesburg region.
The greatest strength GREDA brings to any deal is its flexibility. People make business decisions, and it’s our people who work to influence those business decisions.
We focus on making the location process easy through services such as:
• Enterprise Zone programs
• Tax Increment Financing programs
• Industrial site and commercial building profiles
• Wage and labor market information
• Energy cost information and comparisons
• Transportation cost analysis
• Railway access data
• Interstate access data
• Current business financing programs
• State and local tax information and comparisons
• Current employer training program information
• Identification of joint venture, merger/acquisition, technology exchange, licensing and export sales opportunities
• General, statistical and demographic information on Galesburg and other Knox County communities
• River and port site data
GREDA uses seven tools to achieve its goals:
Knox County Development Corporation
GREDA’s not-for-profit 501c (6) land development corporation. The KCDC has successfully developed 130 acres of industrial park in three phases. Additionally, the KCDC owned and gifted the land that the Hill Correctional Facility currently resides upon and staff assisted in the redevelopment of the Hawthorne Center.
City of Galesburg’s Enterprise Zone
GREDA acts as the marketing agent and first point of contact for this incentive package, which includes property tax abatement investment, tax credits and sales tax credits.
City of Galesburg’s Revolving Loan
GREDA acts as the marketing, review and recommendation group for this City of Galesburg financial incentive.
Small Business Incubation
GREDA operates a 120,000 square foot business incubator facility, with space for warehouse/distribution, light manufacturing, assembly, R&D and office.
Prairie Hills RCD Loan Program
GREDA acts as the marketing agent and first point of contact for this countywide revolving loan program.
Speculative Building Program
GREDA has developed and sold one industrial building and owned and sold another existing building.
Build-To-Suit Options
GREDA will build/purchase a structure for an entity. This can be handled as a turnkey or lease-back situation.
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