Industrial Firm To Redevelop Its Downers Grove Facility
Milwaukee-based Rexnord Industries will retain an Illinois presence. The company, which manufactures industrial motion control and water management products, is building a new manufacturing facility and aerospace headquarters in Downers Grove. Rexnord plans to build a 248K SF facility at its existing home within Ellsworth Business Park.
Downers Grove Economic Development Corp. President/CEO Michael Cassa said the village won the bidding for the facility over several out-of-state options offering significant economic incentives for Rexnord to relocate.
Cassa said the village was contacted by Cushman & Wakefield, which was retained by Rexnord in the spring to find a new site. Redeveloping the existing site was an option Rexnord was willing to consider, and Downers Grove preferred that because if the company left, it would be bad for the business park, the village and the state.
Downers Grove stepped up with incentives of its own. The Community High School District 99 and Downers Grove Grade School District 58 boards unanimously approved 10-year, sliding-scale real estate tax abatement agreements that Cassa said are structured to not impact the tax revenue the districts receive. Under the agreements, any tax revenue above and beyond what the districts are receiving will be shared between them and Rexnord. The Downers Grove Village Board is expected to pass a measure approving a 50% reduction in Rexnord's permit fees.
Groundbreaking for the new facility is expected to happen in early fall, with construction completed by the first half of 2019. Once the new building is completed, the old building will be redeveloped into parking for Rexnord's 310 employees.