Greater Beloit Economic Development Corporation released their annual report. Contact GBEDC for business developments, economic development, business relocation, retention & more business opportunities.

1. THE GREATER BELOIT ECONOMIC DEVELOPMENT CORPORATION
ANNUAL REPORT 2011
Greater Beloit Works
The Greater Beloit Economic Development Corporation
500 Public Avenue
Beloit, WI 53511
ph: (608) 364-6748
fx: (608) 364-6756
www.greaterbeloitworks.com

2. ORGANIZATIONAL ‘11 OFFICERS
MISSION & VISION & EXECUTIVE
STATEMENTS COMMITTEE
Mission Statement
FELLOW INVESTORS LEADERSHIP TEAM Chair
The mission of the Greater A Message from the ‘11 Board President ‘11 Board & Committee Members John Nicholas
Beloit Economic Development
Vice Chair
Corporation (GBEDC) is to act
Jim Fisher
as the primary organization
coordinating, facilitating and Secretary/Treasurer
Unlike many communities, Greater Beloit enjoyed a year BUSINESS INDUSTRY EDUCATION
implementing economic Ed Hansen
of continued stability and growth. Through the continued Bill Sullivan, Chief Executive Officer John Nicholas,
development activities in the
cooperation of the private and public partnership that Beloit Beloit Health System – Clinic Division V.P. of Administration & Treasurer Immediate Past Chair
Greater Beloit area. Beloit College
enjoys, we have had several noteworthy successes in attract- Kent Eymann, Publisher Tom Ptacin
ing, expanding, and retaining important businesses in the Beloit Daily News Steve McNeal, Superintendent
Vision Statement Stateline area. School District of Beloit Business/Education
John Todd, Vice President Partnership Committee
We will be a broad-based,
The Greater Beloit Economic Development Corporation Kerry Americas Co-Chair
public/private partnership that AT-LARGE
(GBEDC) has remained busy with many projects and I am John Patch, President Rick Barder
creates a common focus for Mike Bua, Finance Director
economic development John Nicholas, pleased to report that our investors continue to be supportive McBain Enterprises, Inc. Beloit Health System Business Development
activities in Great Beloit. ‘11 Board Chair of our efforts. Joe Stadelman, Vice President Committee Chair
Dr. Thomas Eckert, President
Angus-Young Associates, Inc. Blackhawk Technical College Rick Bastian
The combined efforts of the GBEDC, Visit Beloit, Chamber of Commerce, and
Guiding Principles Downtown Beloit Association towards mutual and shared strategic goals will con- Pete Underwood, Fred Buggs, Chief Professional Officer Designated Loan
GBEDC seeks to fulfill its tinue to enhance our community’s visibility and display progress that is more readily V.P./General Counsel/Secretary Stateline Boys & Girls Club & Finance Committee Chair
mission by: Regal Beloit Diane Gustafson
achieved through collaboration and cooperation. Jim Fisher, President
Jim Zisser, Project Manager JBF Group
Promoting a positive The GBEDC currently has seven standing committees, which are composed of many Frito-Lay Investment/Recruitment
image of the area including active members and volunteers. The committees are Investment and Recruitment, Committee Chair
Rob Gerbitz, Managing Director LOCAL GOVERNMENT Keith Kruse
our industries, workforce, Loan and Finance, Business Development, Business/Education Partnership, Strate- Hendricks Development Group Larry Arft, City Manager
educational institutions gic Planning, Executive, and Nominating.
Curt Lansbery, President City of Beloit Strategic Planning
and quality of life. Committee Chair
It is through these committees that the mission of the Corporation is realized. North American Tool Corporation Roger Anclam, Chairperson
Joel Patch
Developing regional coop- Quarterly Board of Director’s meetings allow the members to stay abreast of the Tom Barnes, Real Estate Asset Manager Town of Turtle
erative and collaborative workings of the Corporation with the Executive Committee meeting monthly. Other ABC Supply Mike Duffy, Mayor
partnerships with public and committee meetings are scheduled as necessary. City of South Beloit
Keith Kruse, V.P., Director of Operations
private bodies to support Tricor Insurance
There is a great deal of momentum and progress going on and I appreciate all of Bob Museus, Administrator
the local workforce and
the support and encouragement I have received during my tenure as President of Town of Beloit
existing businesses.
the Corporation. It has been an honor to serve and I hope and expect the incoming REAL ESTATE/DEVELOPERS/ STAFF MEMBERS
Developing a diverse CONTRACTORS EX-OFFICIO
President will be afforded the same support as I have received.
Tom Ptacin, President Randall Upton, President
group of leaders to actively
Klobucar Construction Co., Inc. Greater Beloit Chamber of Commerce
build on our community’s
successes and continue to Joel Patch, Partner Deb Frederiksen, Executive Director Andrew
enhance our local economy. Commercial Property Group, LLC Visit Beloit Janke
Jason Houle, Principal Kathleen Braatz, Executive Director Economic
Promoting the growth of R. H. Batterman & Co., Inc. Development
Downtown Beloit Association
existing and new business Director
to build an economic Nailah Adama, Representative City of Beloit
FINANCIAL INSTITUTIONS Community Development Authority
environment that will Arlyn Erdmann,
enhance our local V.P. of Commercial Loans Bruce Kepner,
economy. First National Bank Economic Development Specialist
Alliant Energy
Working together to Diane Gustafson, Vice President Shauna
M & I Bank Dan Boutelle, Plan Commission Chair
develop and recruit a ‘11 Executive Committee Members, pictured from left to right: Jim Fisher (Vice El-Amin
City of Beloit
skilled workforce to fill the Chair), John Nicholas (Chair), Rick Barder (Business/Education Partnership Com- Rick Bastian, President and CEO Administrative
knowledge-based needs of mittee Chair), Diane Gustafson (Designated Loan & Finance Committee Chair), Blackhawk Bank Tara Tinder, Executive Director Assistant
today’s businesses and Larry Arft (Local Government Jurisdiction Representative), Tom Ptacin (Immedi- Stateline Community Foundation City of Beloit
Rick Barder, Retired
create tomorrow’s jobs. ate Past Chair), and Rick Bastian (Business Development Committee Chair). Not
pictured: Ed Hansen (Secretary/Treasurer), Keith Kruse (Investment/Recruitment Ed Hansen, V.P. of Business Banking
Committee Chair), and Joel Patch (Strategic Planning Committee Chair). Gateway Community Bank
www.greaterbeloitworks.com

3. (INVESTORS CONT.)
‘11 INVESTORS Genencor International
ABC Supply ‘11 RECAP
THE YEAR IN REVIEW
Greater Beloit Chamber
Alliant Energy Projects.........................................14 of Commerce
Allied Games A Great Year for Expansion Projects New Jobs...................................491 Harris Ace Hardware
Amcraft Building Projects Total Investment...... $334,322,483 Hendricks Holding Company,
Square Footage................. 691,900 LLC
American Aluminum Extrusion
Company Tilley’s Pizza House Henry Technologies
American Construction Metals FatWallet.com
Despite the continuing challenging economic times Greater Beloit had a good year Hormel Foods Corporation
moved from their
Angus Young Associates with several major expansion projects being and announced and some being com-
Rockton, IL location in April to the former Kerry office building located at 100 JBF Group
pleted by the end of the year. A few notable expansion projects include:
Avid Pallet East Grand Avenue. The company moved specifically to avoid the need to Kerry Americas
Kettle Foods is constructing pay a new on-line sales tax imposed by the State of Illinois. The initial move
Axium Foods/McCleary, Inc. created 54 new jobs. Later in the year the company was sold to California Kettle Foods
a 45,000 square foot addition
Beloit Box Board to meet the growing demand based Ebates.com which plans to stay in their downtown Beloit location and Klobucar Construction, Inc.
for their potato chip products. continue to grow and create jobs.
Beloit College M & I Bank
The company is investing $40
NorthStar Medical Radioisotopes, LLC announced that they were
Beloit Daily News million into their Beloit facil- McBain Enterprises, Inc.
planning on developing a production facility in Beloit that utilizes linear ac-
ity and will add 100 new jobs.
Beloit Health System Kettle Foods celerators to produce isotopes that are used in diagnostic medical imaging. MLG Development
The GBEDC was instrumental
The project will involve the construction of an 82,000 square foot facility, le-
Beloit Health System— in supporting this project by Morse Group
veraging $194 million in investment, and creating 150 new jobs by 2016. The
Clinic Division providing a $200,000 Industrial
company will also be moving their corporate headquarters to Beloit. Mule-Hide Products
Development Grant.
Beloit Snappers
The year’s most significant commercial project announcement was the beginning of Neighborhood Housing Services
Beloit Special Machining Co. To support the logistical needs
construction of the $1.2 million Tilley’s Pizza House. North American Tool
of the Kettle Foods expansion,
Blackhawk Bank Alliance Development is con- Unemployment numbers for the area continue to decline from a high in 2009 of Papa Murphy’s Take N Bake
Blackhawk Logistics structing a 110,000 square foot 18.6% down to a still unacceptable 12.4%. As the economy continues its slow recov-
warehouse facility. Total private Paperchine
Blackhawk Technical College Wild Aseptics ery, hopefully, this trend of decline
investment is $4,900,000 and will accelerate. Pipeline activity in PRIDE Associates
Blackhawk Transport will create up to 10 jobs. 2011 was much more robust com- R. H. Batterman & Co., Inc.
Budweiser Motors pared to the 2 years prior to it.
Wild Aseptics completed a Regal-Beloit
Business Outreach Services— $6,000,000 expansion project GBEDC staff and volunteers spent a
that allowed the company to great deal of effort and time in 2011 River’s Edge Foundry, LLC
UW Whitewater
add to its production capacity. working on a number of Strategic Rock Bar & Grill
City of Beloit The project led to the creation Collaborations including:
City of South Beloit of 7 new jobs. Genencor International Rock County Electric
Woodman’s Food Market Turtle Creek Corridor Cooperative Assoc.
Coldwell Banker Commercial/ Woodman’s Food Redevelopment Plan Phase I Siepert & Co. LLP
McGuire Mears Market completed the
Upper Floor Housing
construction to its 32,136 Sikich LLP
Commercial Property Group Grant Program
square foot expansion of their
Downtown Façade Stainless Tank & Equipment, LLC
Corporate Contractors Inc. west side warehouse distribu-
tion facility. The project lever- Grant Program Stateline Boys & Girls Club, Inc.
Culvers
aged over $1,422,483 in private Educational Initiatives
Stateline Community
Durst investment. Promoting the “Shovel Ready” Alliance Development Foundation
Electrol Specialties Company Kerry Ingredients and Flavors certification of the Gateway
Kerry Ingredients and Business Park Summit Machine Works, Inc.
Fairbanks Morse Engine Flavors is construction a
Completing the Town of Beloit
29,000 square foot addition to their corporate headquarters facility. The new
Finley/Dencker 100th BRE interview
addition will house internal support operations and the vacated space will Town of Turtle
First American Credit Union be remodeled to support activities relating to new flavor and pharmaceutical Launching of virtual
operations. Total investment in the project is $8,000,000 and will result in the buildings project Tricor Insurance
First National Bank & Trust
creation of 47 new jobs. Visit Beloit
The GBEDC continued to collaborate
Frito Lay
2011 also saw the announcement of two new companies that chose to locate in with Rock County 5.0 as that organi- H.B. Specialty Foods Welders Supply Company
G. G. Grabowski CPA, SC Greater Beloit: zation has risen over $1 million
Gateway Community Bank
www.greaterbeloitworks.com

4. GBEDC’S FOCUS (THE YEAR IN REVIEW CONT.) PARTNERSHIPS
& INVESTORS IN EDUCATION
OUR FOCUS
The GBEDC organizes econom- LOCAL PARTNERSHIPS GBEDC prides itself on being
committed to the community
ic activities in the Greater Beloit GBEDC Helps KIDS AGAINST HUNGER and the youth in it. We feel that
area focusing on: Industrial and getting involved in education
Commercial Development, is important. Some initiatives
Package Incentives, Marketing,
we have organized include:
and Job Training. The GBEDC
acts as a liaison to resources Business Education Summit
The 4th Kids Against
that provide for business reten- 300 Block of State Street Our fifth annual summit was
tion and expansion as well as Hunger packaging
new businesses, creating and event at Beloit held on August 24 with featured
retaining jobs while increasing to help the economic development organizations Gantry Park Memorial High School speakers Alan Borsuk, Senior
the tax base. Acting as a voice implement a variety of strategies to better position was held this year. Fellow in Law at Marquette Uni-
for the business community, we Rock County moving forward. A number of initiatives versity Law School, and Janice
facilitate professional partner- The first year started Brown, Executive Director at the
were completed in 2011 including the development of a series of videos focusing
ships with local government with students and Kalamazoo Promise. This event
on Rock County’s Logistics cluster and our Real Estate and Development Opportu-
agencies, utility companies, mentors in our Lunch was held in partnership with the
realtors, and public and private nities. A video promoting the Rock County airport will be completed in early 2012.
& Learn Program pack- School District of Beloit and the
entities. We also provide value- aging 8,000 meals that Greater Beloit Chamber.
Several significant infrastructure development projects were also completed including:
added services tailored to meet were given to local
the needs of members and the Reconstruction of the 300 block of State Street Speakers Bureau Pool
organizations, Cari-
community, including financial Construction of the downtown Gantry and Gantry Park We maintain an up-to-date list
tas and ECHO. The also brings community members into the
assistance. Reconstruction of Cranston Road of professionals in the area who
second event was introduced school- school to show the students how much
The start of construction of the Henry Avenue Bridge are willing to speak about their
OUR INVESTORS wide with over 290,000 meals packaged their efforts really matter.
Our investors are the region’s and shipped to Cameroon, Africa. The professions to School District of
Major development projects that were completed in 2011 represented the creation
largest stakeholders and third event was held with another group We would like to extend a special thank Beloit students.
of 61 new jobs, a total private investment of over $7,422,483 million, and added
strongest community-minded of Lunch & Learn students and mentors you to AVID PALLET for donating pallets
32,136 square feet. These include: Connections Initiative
businesses that support the who packaged another 8,000 meals for for this project.
organization’s mission to foster FatWallet.com We connect BMHS freshmen
local organizations.
economic growth in the Greater Wild Aseptics with area businesses that
Beloit area. As a public/private Woodman’s This year the school-wide event was welcome these students into
partnership, the GBEDC strives continued, and 150,000 meals were their facilities to discuss
to be comprised of small and Other development projects that are under construction, or have been announced packaged, all of them were sent to Haiti. careers available. Although this
large employers, professional in 2011 will add an additional 430 new jobs, result in the private investment of program will not be continued,
Students volunteered their morning off
service and retail businesses, $326,900,000 and add an additional 659,764 square feet. These projects include: plans are underway to partner
community organizations, of school and community
members took off work to participate. with the Chamber for its Career
and private individuals in the Kettle Foods
Students were asked to get donations Fair held each November.
Greater Beloit area. Alliance Development by presenting to area businesses, which
Genencor Lunch & Learn
INVESTOR BENEFITS not only brings students together but
Recognition as a strong cor- This mentoring program
Birds Eye Foods
porate citizen who supports matches area professionals with
NorthStar Medical BMHS freshmen. Currently, 25
professional economic develop-
ment and a higher standard of Radioisotopes mentors work with students
living and quality of life for the Henry Bridge Cranston Road Kerry Ingredients every Friday over lunch, pro-
Greater Beloit area. Networking & Flavours vided by a Stateline Community
opportunities with other busi- The Morse Group Foundation grant. This year we
nesses to create, retain, and also introduced programs at
expand business opportunities H.B. Specialty Foods
both Beloit middle schools.
and markets within the Greater Tilley’s Pizza House
Beloit area. Involvement in Fairbanks Morse Reality Store
implementing new strategies Area businesses set up shop for
that will strengthen and grow Alliant Energy
the morning to teach students
our community. Opportunity to
Between completed and an- real life lessons, including bud-
serve on the Board of Directors.
Investors may actively volunteer nounced projects, the region can geting, setting up a checking
on one or more of the standing anticipate the creation of 491 new account, buying a home, buying
committees including: Loan and jobs, the addition of 691,900 square a car, and paying bills, all
Finance, Recruitment/Invest- feet, and private investment contri- factored on a career-based in-
ment, Strategic Planning, Busi- Alliant Energy Gateway Substation butions totaling $334,322,483. come of the student’s choosing.
ness Development, and Busi-
ness/Education Partnership.
www.greaterbeloitworks.com

5. ‘11 COMMITTEES BUSINESS/EDUCATION PARTNERSHIP COMMITTEE: (COMMITTEES CONT.)
Our committee remains very active in supporting the local School District’s in their
EXECUTIVE COMMITTEE quest to give our future workers the tools needed to compete in the workforce. LOAN AND FINANCE
The Executive Committee shall
be comprised of not more than COMMITTEE REPORTS The 5th annual Business/Education Summit was held in August where we received
an update on the current conditions affecting Wisconsin School District’s as well as
COMMITTEE
The Loan and Finance
Committee shall be comprised
eleven (11) members. From Our Committee Chairs listening to a very innovative program started several years ago in Kalamazoo, MI
called The Kalamazoo Promise. The 4th annual Connections Initiative was held in of seven (7) members, at least
John Nicholas – Chair May with over 400 Freshmen students from Beloit Memorial visiting over 20 local three (3) of whom shall be
Jim Fisher – Vice Chair businesses for a 2hr overview of the activity of that business. The Lunch & Learn Board members. No more than
Ed Hansen – Secretary/Treasurer programs at Beloit Memorial High School as well as Aldrich & McNeel Middle four (4) of these members shall
Tom Ptacin – Immediate Past Chair Schools are continuing with good participation at all levels. There will be over 350 be members of the financial
Larry Arft INVESTMENT/RECRUITMENT COMMITTEE: students at Beloit Memorial who will participate in this year’s Mock Interview services business sector.
Rick Barder As we continue to face economic challenges in the area, we continue to work at
Program. A pilot program linking students to adult mentors via the internet is Ed Hansen – Chair
Rick Bastian growing investor/membership revenue. We did maintain most of our current base
continuing with over 30 volunteers participating. A program matching teachers Diane Gustafson
Diane Gustafson of supporters, which we feel is acceptable in light of the national and local econo-
with business leaders is continuing where visitations at businesses and at schools Rick Bastian
Keith Kruse my. We were fortunate to receive additional investment revenue from Beloit Health
will take place to learn about skill sets needed in the work world. Plans for the 3rd Arlyn Erdmann
Joel Patch Systems, and would like to thank them for recognizing how important GBEDC is to
Reality Store are underway where students are given real life scenarios and have to Bob Manzer
Mike Duffy the Greater Beloit community. For 2012, we plan to add additional members to our
manage a household budget. Our committee will be partnering with the Greater Rob Gerbitz
committee for help in reaching out to the community, and look at different ways
Beloit Chamber of Commerce on ways to work with community-based non-profit Brian Kobischka
to allow current partners to increase what they do with us as well as a major focus
BUSINESS DEVELOPMENT organizations which will help students perform better and improve the graduation
on recruitment of new partners. Our revenue budget goal will be $63,000, and our
COMMITTEE rate at all local high schools. —Rick Barder & Jim Agate, Committee Co-Chairs
committee’s focus will be to achieve this goal at a minimum with great hopes that INVESTMENT/RECRUITMENT
The Business Development we will exceed that number. We firmly believe that our organization remains a
Committee shall be comprised COMMITTEE
critical piece in the local economy’s growth machine and that local businesses can The Investment/Recruitment
of not more than nine (9). Three see that our organization’s growth is good for all. Our history has shown that, and BUSINESS DEVELOPM Committee shall be comprised
(3) of whom shall be members our future will as well. —Keith Kruse, Committee Chair Although the econom ENT COMMITTEE: of not more than seven (7)
of the Board of Directors. ic environment has rem
tion efforts of most ec ained challenging for members. One (1) being
onomic development the attrac-
Rick Bastian – Chair a pretty good and pro organizations, your GB designated the Chair of the
ductive year. One new EDC had
Kent Eymann STRATEGIC PLANNING COMMITTEE: a handful of expansion
plans promise to bring
plant announcement alo
ng with Committee.
Bill Lock Staff has continued to coordinate the economic development activities in the area in millions of dollars in inv hundreds of jobs and
estment to the Greater tens of Keith Kruse — Chair
Frank McKearn the context of the adopted Strategic Plan. The Strategic Plan now incorporates the Beloit area.
Tom Ptacin associated priorities of the GBEDC, the Greater Beloit Chamber of Commerce, Visit NorthStar Medical Ra Fred Buggs
dioisotopes, a compan
Jeff Hazekamp announced plans to bu y involved in nuclear me Bill Lock
Beloit, and the Downtown Beloit Association in to one document. On a monthly ild an 82,000 square foo dicine,
Mark Membrino basis, the Executive Director’s meet to update the Strategic Plan, discuss progress could involve as much t facility north of Gatew Brian Mark
as $194 million in inves ay that
on our agreed-upon initiatives, develop new ideas, and coordinate activities. The has committed to a 11 tment. Alliance Develop Bill Mears
0,000 square foot addit ment
Plan has been modified eleven times since starting the process in 2010 and reflects facility. In late 2010, Ke ion to its existing distrib Scott Weiser
BUSINESS/EDUCATION ttle Foods announced ution
changing priorities within the economic development landscape. Staff has made existing award winning a $38 million addition Gene Ziemba
facility. Kerry Ingredien to its
PARTNERSHIP COMMITTEE to an $8 million, 29,00 ts and Flavours also co
several presentations on the Strategic Plan to a variety of stakeholders. In 2010, the 0 square foot addition mmitted
The Business/Education take all of these actio to its headquarters ca
Greater Beloit Chamber of Commerce and Visit Beloit engaged the same consultant ns as votes of confide mpus. We STRATEGIC PLANNING
Partnership Committee shall be and infrastructure offere nce in the unique talen
used by the GBEDC to guide them through the development and approval of their d in Greater Beloit. t, resources COMMITTEE
comprised of a co-chairperson
own strategic plans. The DBA plans to also use the same consultant to update their In a very competitive The Strategic Planning
representing GBEDC and a economic developme
strategic plan in 2012. Once all four plans are complete, the GBEDC will coordinate low cost land is not the nt environment, we rec Committee shall be comprised
co-chairperson representing only differentiator. We ognize that
a joint meeting with the consultant to reaffirm that the partners missions are distinct fication for sites at the achieved “shovel ready of the Chair of the Board, Vice
the GBCC and no set maximum Gateway Business Park ” certi-
and there is no redundancy in the organizations goal and objectives. advertise that fact. A and have modified sig Chair of the Board and five (5)
number of members. partnership with the Ro nage to
—Joel Patch, Committee Chair Angus Young give po ck County Business All additional members who shall
Rick Barder – Co-Chair tential GBEDC clients iance and
ing designs that play access to a variety of be investors of the Corporation
Jim Agate – Co-Chair to the “speed to marke virtual build-
LOAN AND FINANCE COMMITTEE: the area for facilities.
The Food Processing
t” needs of clients cons
idering Joel Patch — Chair
There are six (6) traditional loans currently outstanding which total over $274,000, as video was the initial eff and Technology broch John Nicholas
ort at broadcasting a ure and
NOMINATING COMMITTEE part of the City of Beloit‘s Revolving Loan Fund (RLF) program. The original balanc- This year, a similar comm core competency of ou Jim Fisher
itment to a brochure an r region.
The Nominating Committee es of these loans were $376,000 and all but one (1) have been handled as agreed. followed by ones on Ad d video on Logistics wi Tom Barnes
vanced Manufacturing ll be
shall be comprised of the im- One new traditional loan was approved in the amount of $55,000 for Midwest Airport, and other ind , Healthcare, the Rock Deb Fredrikson
ustries. County
mediate past chair (Committee Adventures Group, dba Paddle & Trail. Two forgivable loans were approved in 2011, Fran Patch
All of the economic de
Chair) of the Board of Directors, one to Kettle Foods for $200,000 and one to Genencor International for $100,000. velopment organizatio Randall Upton
same page. Wisconsin ns in Rock County are
and at least two (2) additional With no current applications being submitted, there is $237,500, as of October 31, is transforming itself int on the
this bodes well for bu o a pro-business state.
members. 2011, to be distributed for qualified City of Beloit businesses. An updated brochure siness development wh All of
en the economy turns
that outlines these programs will be produced in early 2012, and a current edition around.
Tom Ptacin – Chair
Tom Barnes is detailed on our webpage www.greaterbeloitworks.com making this information —Rick Bastian, Comm
ittee Chair
Jim Fisher available to all potential loan applicants. —Ed Hansen, Committee Chair
Rob Gerbitz
www.greaterbeloitworks.com

6. BALANCE SHEET WISCONSIN
(As of October 31, 2011)
ECONOMIC
DEVELOPMENT
FINANCIAL REPORT FUTURE PROJECTIONS
ASSETS
Current Assets
Checking/Savings AND GROWTH
CD #1 50,125.93 ‘11 Budget vs. Actual ‘12 Proposed Budget
CD #2 50,000.00 Within 500 miles of Beloit:
CD #3 50,000.00 Amended Approved Approved Projected Proposed
Checking #2—M&I 24,001.87 October 2011 2011 2009 2010 2011 Through 2012 31 percent of the nation’s
Money Market—M&I 76,426.44 2011 Annual YTD Annual Annual Annual Year-End Annual population
Actual Budget Actual Budget Budget Budget 2011 Budget
Total Checking/Savings 250,554.24 Income Income
Billboard Lease (Lamar) 0.00 4,500.00 4,500.00 Billboard Lease (Lamar) 4,500.00 4,500.00 4,500.00 4,500.00 4,500.00 30 percent of all U.S.
Other Current Assets Business Education Summit 20.00 5,500.00 3,865.00 Business Education Summit 5,300.00 5,000.00 5,500.00 3,925.00 5,000.00 business operations
Prepaid Insurance 960.37 Crop Lease 0.00 35,000.00 0.00 Crop Lease 38,408.00 37,281.00 35,000.00 13,327.04 60,702.00
Total Other Current Assets 960.37 30 percent of the nation’s
Interest Income 8.27 900.00 426.56 Interest Income 1,000.00 900.00 900.00 455.00 600.00
Investor Dues 65,971.00 66,000.00 66,000.00 62,818.00 63,000.00
manufacturing companies
Investor Dues 500.00 66,000.00 61,980.70
Total Current Assets 251,514.61 Other Income 0.00 0.00 0.00 5,869.18 0.00
Other Income 16,667.00 0.00 22,536.18
38 percent of all U.S.
Rental Income—520 E. Grand 200.00 0.00 800.00 Rental Income - 520 E. Grand 14,400.00 7,200.00 0.00 1,000.00 3,200.00
Fixed Assets Total Income 129,579.00 120,881.00 111,900.00 91,894.22 137,002.00 manufacturing volume
Total Income 17,395.27 111,900.00 94,108.44
520 E. Grand—Equipment 6,612.74
Accum. Depreciation (74,648.32) 50 percent of the nation’s
Expenses Expenses
Bldg Improvements— Accounting/Audit 0.00 4,000.00 4,790.00 Accounting/Audit 3,500.00 3,800.00 4,000.00 4,790.00 4,500.00 top 20 metro manufacturing
520 E. Grand (at cost) 190,873.00
Advertising & Marketing 650.00 5,000.00 5,869.18 Advertising & Marketing 14,000.00 10,000.00 5,000.00 5,219.18 5,000.00 centers
Building—
Food Cluster Marketing* 0.00 0.00 0.00 Food Cluster Marketing 6,000.00 0.00 0.00 0.00 0.00
520 E. Grand (at cost) 140,000.00 Businesses benefit from Greater
Business/Education Initiatives 0.00 0.00 0.00 Business/Education Initiatives 0.00 0.00 0.00 250.00 0.00
Computers & Beloit’s strategic location. Our
Related Items 5,175.00 Financial Literacy 0.00 0.00 183.00 Financial Literacy 0.00 1,500.00 0.00 183.00 1,000.00
Connections 0.00 1,200.00 673.11 Connections 2,000.00 1,220.00 1,200.00 673.11 1,000.00 geographical location on the
Land—
520 E. Grand (at cost) 25,000.00 Summit 1,635.00 6,000.00 5,477.58 Summit 5,000.00 5,200.00 6,000.00 3,842.58 5,000.00 Illinois-Wisconsin border —
Software 3,200.00 ACT Funding 0.00 500.00 33.00 ACT Funding 0.00 500.00 500.00 450.00 500.00 midway between Lake Michigan
Vision Beloit—Furniture 7,240.48 BTC Funding 0.00 0.00 0.00 BTC Funding 0.00 200.00 0.00 0.00 200.00 and the Mississippi River — puts
Challenge Day 0.00 2,000.00 0.00 Challenge Day 0.00 2,000.00 2,000.00 1,100.00 1,500.00 us in the center of the U.S.A.’s
Total Fixed Assets 303,452.90 Discretionary Fund 0.00 1,000.00 130.24 Discretionary Fund 0.00 0.00 1,000.00 400.00 1,000.00 biggest market — the Midwest.
Contingency 0.00 0.00 0.00 Contingency 0.00 0.00 0.00 0.00 0.00 Speedy access to these markets
TOTAL ASSETS 554,967.51 EDA Grant Match 0.00 3,000.00 0.00 EDA Grant Match 5,400.00 3,000.00 3,000.00 0.00 0.00 is provided by the area’s diversi-
Insurance—D&O 0.00 800.00 0.00 Insurance—D&O 800.00 800.00 800.00 800.00 800.00 fied transportation systems.
Insurance—Liability 0.00 2,600.00 2,554.00 Insurance—Liability 2,500.00 2,500.00 2,600.00 2,554.00 2,600.00 Interstate Highways 39, 90, and
LIABILITIES & EQUITY
Legal Fees, Filing Fee, Etc. 0.00 250.00 160.00 Legal Fees, Filing Fee, Etc. 500.00 250.00 250.00 160.00 250.00 43 link the area with other Wis-
Current Liabilities
Loan Interest—FNB 742.43 11,980.00 7,347.82 Loan Payment—FNB 11,979.00 12,026.00 11,980.00 11,980.00 11,980.00 consin and Illinois communities,
Accounts Payable 1,658.67
Loan Payment #2—CDBG 0.00 1,500.00 0.00 Loan Payment #2—CDBG 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00
Total Accounts Payable 1,658.67 as well as the rest of the nation.
Meals & Entertainment 36.00 500.00 176.75 Meals & Entertainment 1,000.00 1,000.00 500.00 350.00 500.00
Meeting Expense 0.00 500.00 0.00 Meeting Expense 3,500.00 1,500.00 500.00 150.00 500.00 We are in close proximity to
Total Current Liabilities 1,658.67
Office Supplies 58.00 5,500.00 1,623.39 Office Supplies/Printing/Mailing 4,700.00 4,700.00 5,500.00 2,100.00 5,500.00 two major cities; Chicago and
Long-Term Liabilities Professional Services 0.00 12,620.00 7,555.00 Professional Services 5,000.00 4,400.00 12,620.00 7,555.00 12,620.00 Milwaukee both are within a
Sub Area Plan* 10,300.00 0.00 10,300.00 Turtle Creek Corridor Redevelopment Plan 0.00 20,600.00 0.00 10,300.00 0.00
Contra Current Mat— two-hour drive. Greater Beloit
City of Beloit (1,500.00) Project Signs 0.00 1,000.00 6,085.84 Project Signs 5,000.00 3,000.00 1,000.00 6,085.84 1,000.00
offers ease of access to markets
Contra Current Mat— Rent/Utilities 1,535.53 20,000.00 16,524.37 Rent/Utilities 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
FNB (3,299.00)
and suppliers. This is a highly
Repairs—520 E. Grand 0.00 2,000.00 1,222.07 Repairs—520 E. Grand 6,000.00 7,000.00 2,000.00 1,222.07 2,000.00
Current Mat— significant factor in terms of
Furnace* 0.00 0.00 0.00 Furnace 4,000.00 0.00 0.00 0.00 0.00
City of Beloit 1,500.00 Special Projects 0.00 0.00 0.00 0.00 15,000.00
freight costs and the increased
Staff 5,500.00 22,000.00 32,586.62
Current Mat—
Staff 2,256.00 20,000.00 22,000.00 38,089.00 24,000.00
emphasis on "Just-In-Time"
Strategic Plan 0.00 0.00 0.00
FNB 3,299.00 production.
Subscriptions & Reports 0.00 500.00 0.00 Strategic Planning 0.00 0.00 0.00 0.00 0.00
N/P—City of Beloit 15,075.00
Training/Conference 279.53 4,000.00 1,677.49 Subscriptions & Reports 500.00 500.00 500.00 100.00 500.00
N/P—FNB 127,474.47 With its strategic location and
Total Long-Term Liabilities 42,549.47
1 Travel 0.00 3,000.00 128.21 Training/Conference 2,000.00 2,500.00 4,000.00 1,500.00 4,000.00
Travel 500.00 5,000.00 3,000.00 200.00 3,000.00
access to markets, Greater Be-
Utilities—Signs 50.28 450.00 481.19
Utilities—Signs 400.00 450.00 450.00 620.00 620.00
loit continually plays a big role
Total Liabilities 144,208.14 UW Engineering Program 0.00 0.00 0.00
Total Expenses 20,786.77 111,900.00 105,578.86 UW Engineering Program 2,000.00 2,000.00 0.00 0.00 0.00 in Wisconsin public economic
Equity Total Expenses 110,035.00 137,146.00 111,900.00 122,173.78 126,070.00 development. In short, Greater
Retained Earnings 422,229.79 Net Income/(Loss) (3,391.50) 0.00 (11,470.42) Beloit offers firms the right loca-
Net Income/(Loss) 19,544.00 (16,265.00) 0.00 (30,279.56) 10,932.00 tion to expand or establish a
Net Income (11,470.42)
Total Equity 410,759.37 Net Cash Provided by Financing Activities (255.79) (4,134.38) 0.00 business.
Accounts Payable to Rock County 5.0 0.00 (3,647.29) (15,604.80)
TOTAL LIABILITIES
& EQUITY 554,967.51
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