Investment will support increased economic growth in West Central Illinois
QUINCY – Governor Rod R. Blagojevich today announced a $1.86 million investment package to support the expansion of Prince Agri Products, Inc, a Quincy-based manufacturer of animal feed ingredients. The state’s investment will leverage a major new investment by the company and will result in the creation of 41 jobs and retention of 58 jobs. This support comes as a part of Opportunity Returns, the Governor’s comprehensive economic development strategy to create jobs and build the economy in West Central Illinois.
“By investing in companies like Prince Agri Products, we are supporting economic growth in this region of the state and helping to keep jobs here in Illinois,” said Governor Blagojevich. “We will continue to provide businesses with the resources they need to be successful, because we recognize our economy is only as strong as our communities.”
Prince Agri Products is consolidating its operations, which are currently housed in two existing locations in Quincy and locations in Indiana and Iowa, into a new corporate facility. Ground was broken today on the new 165,000 square-foot manufacturing and warehousing facility, which will be located at South Quincy Industrial Park.
“Prince Agri Products has a long-standing presence in this community. I am pleased that they have made the decision to continue investing in this state and the people of West Central Illinois,” Sen. John Sullivan (D-Rushville) said.
“I’m delighted that Prince Agri Products has made the decision to expand its Quincy facility and maintain their operations in Illinois. This investment will bring new jobs to the region, and further our efforts to grow the Illinois economy,” said Rep. Jil Tracy (R-Quincy).
The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the business investment package. It includes tax credits and exemptions through the Economic Development for a Growing Economy (EDGE) and Enterprise Zone programs. It also includes training funds available through Illinois Employer Training Investment Program (ETIP) and grant money available through the Community Development Assistance (CDAP) Program.
“Illinois is the perfect location for companies looking to stay ahead of the curve. Through our partnership with Prince Agri Products, we’re helping to ensure the company can remain innovative and flexible, which is an absolute necessity in our increasingly global economy, and helping to ensure good paying jobs remain in the state,” said DCEO Director Jack Lavin. “We’re delighted that after nearly 50 years, Prince Agri Products is continuing to experience success here in Illinois.”
“Prince Agri Products is proud of our past and excited about our future growth -- with new products, new people, and strong partnerships,” said Dean Warras, President, Prince Agri Products, Inc. “Prince is building this state-of-the-art facility because of our ongoing commitment to provide cutting-edge service, quality and efficiency to our customers.”
“We’ve had a positive experience with the area’s labor force and are confident in our ability to expand because of that workforce,” said Darryl Mayton, VP of Manufacturing, Prince Agri Products, Inc. “We are making a large investment in the people and community and look forward to growing with Quincy.”
Governor Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.