Economy

Commercial, retail developments a top priority in Paxton

PAXTON — If the city’s tax-increment financing (TIF) district is to become a success, drawing travelers off of Interstate 57 to spend money in town will undoubtedly be a necessity.


$750,000 loan granted to Colmac Coil

PAXTON — When Paxton’s largest employer, Baltimore Air Coil, closed in 2009, laying off its 223 workers, Colmac Coil stepped up to try to fill the economic void.


Redevelopment agreement up for vote by Paxton City Council

PAXTON — A revised redevelopment agreement pertaining to land located south of Illinois 9 and west of Interstate 57 in the city’s tax-increment financing (TIF) district is expected to finally be voted on by the Paxton City Council in upcoming weeks.


Course of action on Railside gives Gibson City a boost

GIBSON CITY — The mood at last Thursday’s Gibson Area Chamber of Commerce meeting was a good one, with community business leaders smiling and carrying on lively conversations inside The Sand Trap restaurant.


Paxton aldermen hear update on economic development

PAXTON — Paxton’s tax-increment financing (TIF) attorney, Dan Schuering, met with the city council’s economic development committee last week, telling its members that the contractor for the Cobblestone Hotel being built on the city’s west side was to begin pouring footings this week.


'A major step forward in our economic growth'

PAXTON — Calling it a “major step forward in our economic growth,” Paxton Mayor Bill Ingold joined a group of investors and Cobblestone Hotel & Suites officials in a groundbreaking ceremony last Wednesday for a proposed Cobblestone Hotel near Interstate 57 on the city’s west side.


Hotel developers to receive reimbursement

PAXTON — The 41-room hotel planned for the city’s west side near Interstate 57 took a step closer to becoming reality last week when Paxton aldermen signed off on a redevelopment agreement with the developers of the proposed facility.


Mayor tells of projects city is pursuing to generate economic growth

PAXTON — In addition to a 41-room motel and a Lee’s Famous Recipe Chicken restaurant  proposed to be built on the city’s west side, Mayor Bill Ingold touched on a number of other ongoing economic-development projects during a program he gave to the Paxton Area Chamber of Commerce on Thursday.


New hotel near I-57 in Paxton might come to fruition

PAXTON — Paxton’s tax-increment financing (TIF) attorney, Dan Schuering, told the city council’s economic development committee Monday night that in two months a final decision would be made on a long-discussed hotel coming to town.

“In 45 to 60 days, it will come to fruition or it will go away,” Schuering said. “There are still pieces to be put into the puzzle.”


Strengths, weaknesses of Paxton outlined

PAXTON — Some 30 people attended a Paxton City Council committee meeting last week to give their input on the city’s future.

The group spent 90 minutes talking about Paxton’s strengths and weaknesses and opportunities.


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