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GREDF President Jim Mentesti Announces Retirement

GREDF President Jim Mentesti Announces Retirement August 29, 2012

[share] Quincy, Illinois.  August 29, 2012…The Board of Directors of Great River Economic Development Foundation (GREDF) and James E. Mentesti, its President, today announced that he has chosen to retire after 27 years of service to GREDF and Tri-State area.  Phil Conover has been named interim President.  Mr. Mentesti will continue to support GREDF’s mission as a consultant during a transitional period.

Jim Mentesti, President of Great River Economic Development Foundation in Quincy, Illinois

“I am proud of the progress and results we achieved in my many years with GREDF.  I have a great staff who, with Phil, will continue to promote economic development in the Tri-State area.  I will be pleased to support their efforts and the eventual transition to a permanent replacement,” said Mr. Mentesti.

“We thank Jim for his 27 years of service to GREDF and are pleased he will continue to provide his advice and counsel as a consultant,” said Tim Finlay, Chairman of the Board.  “GREDF has been an integral player in hundreds of economic development projects under Jim’s leadership.  He has helped make our community an economically vibrant one.”

A year ago the Board and Mentesti developed a leadership transition plan, which they are now activating.  “We look forward to conducting a search for a new President and anticipate that process will be complete by the spring of 2013,” said Mr. Finlay.  “During this transition, we are very pleased to have a leader with Phil’s credentials as interim President and Jim’s ongoing support as a consultant.”

Mr. Conover is a former Chairman of GREDF’s Board and worked for 26 years as an investment advisor.  After his retirement from the investment industry, he served over five years in various capacities for John Wood Community College, including Interim Vice President of Instruction, Dean of Career & Technical Workforce Education, and a consultant for business and industry.  He currently serves as Vice Chairman of the Board of Trustees of Quincy University, a member of the Blessing Hospital Operations and Finance Committee, and a member of the Unit #4 Foundation Board, among other civic activities.

“It’s an honor to be selected for this role.  Jim built a strong team, and I am excited to help them build on their previous success and transition to a new permanent replacement in the spring,” said Conover.

2nd Lowest Unemployment in IL for Adams County

2nd Lowest Unemployment in IL for Adams County August 24, 2012

[share] July unemployment figures in Adams County rose by 0.1% over June, but remain slightly lower than a year ago. At 6.8%, Adams County is tied for the second lowest unemployment in the state of Illinois.

The City of Quincy’s July unemployment rate is 7.4% which is up 0.3% over last month, but down 0.1% from a year ago in July.

Unemployment figures are available at the Illinois Department of Employment Security website.

Governor Quinn Signs Enterprise Zone Extension Legislation

Governor Quinn Signs Enterprise Zone Extension Legislation August 8, 2012

[share]Governor Quinn signed Senate Bill 3616 on Tuesday, August 7, 2012, “providing stable and predictable job creation and retention incentives for the long term” via the Illinois Enterprise Zone legislation, according to Craig Coil, President of the Illinois Enterprise Zone Association.

Coil went on to say in a press release, “More importantly, it also gives communities with existing zones the opportunity to renew for up to 25 years, thereby stabilizing their long term economic development strategies and giving employers of all sizes and types a measure of predictability in planning for future job development and capital project opportunities.”

Championed by the Illinois Manufacturers Association (IMA) with significant technical assistance and support provided by the Illinois Enterprise Zone Association (IEZA) and the Taxpayers Federation of Illinois (TFI), Senate Bill 3616 represents a true collaboration of ideas and opinions. Illinois employers as well as media and local government leaders, Chambers of Commerce and Economic Development Organizations throughout the state helped promote the merits of the bill as well, reaching out to their respective legislators about the importance of remaining competitive for the long term.

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After nearly three years of discussion and negotiation, the Illinois General Assembly unanimously passed Enterprise Zone extension legislation on May 31st. The bill awaits Governor Quinn’s signature.

According to an email from Craig Coil, president of the Illinois Enterprise Zone Association, “Senate Bill 3616 will provide stable and predictable job creation and retention incentives for the long term, more transparency and performance reporting and revised qualification criteria which may give communities not currently designated as Enterprise Zones the chance to be considered for designation. It also gives communities with existing zones the opportunity to renew for up to 25 years.”

Quincy Adams County Enterprise Zone MapThe Quincy & Adams County Illinois Enterprise Zone was established in 1984 under state legislation. The Enterprise Zone is considered one of the most effective economic development tools available. Enterprise Zone incentives help grow our economy by encouraging job creation, retention and investments in our communities.

Enterprise Zone incentives have included:

  • Property tax abatement
  • Building materials sales tax exemption
  • Reduced permit fees
  • Jobs tax credit
  • Investment tax credit
  • Income tax reductions
  • Machinery and equipment state sales tax exemption
  • Utility tax exemption

Last year the program is credited with creating 8,980 jobs and nearly $2.5 billion in investments throughout the state. In the Quincy/Adams County Zone alone, (which includes portions of Brown County) 61 projects resulted in over $41 million in investments and 423 jobs being created or retained. This does not include the short term construction and other jobs further benefiting local businesses and the economy.

Visit our Incentives Page for details about current incentives available under the Quincy/Adams County Enterprise Zone or contact Cathy Schluckebier (217.228.4515 or cschluckebier@ci.quincy.il.us) with the City of Quincy Department of Planning and Development for more information.