WEDC provided $1 million toward the $9.5 million first phase of the Central Wisconsin Applied Research and Business Park development. DMI Acquisitions LLC is the lead developer for the project, which will redevelop the former mill site.
WEDC provided $243,000 toward a $2 million expansion of the regional grocery store. The expansion also created space for two additional businesses, generating 45 net new jobs. The retention of the grocery store downtown has allowed other projects to move forward, with a public-private Exploration Center project in planning phases and a Minnesota-based brewery considering relocation to the downtown area.
The vacant 27-acre Royster Clark property was assembled and targeted for a mixed-use development. Remediation costs for the former fertilizer manufacturing site were in excess of $4 million, including demolition of structures and extensive soil work. WEDC contributed $400,000 toward these costs. The project later received an additional $534,000 in Idle Sites Redevelopment Grant funding as part of the $50 million development phase.
Beloit, another of Wisconsin’s inaugural Main Street communities, has sustained commitment to downtown progress for more than two and a half decades. A former factory town blessed with the presence of a river and downtown campus (Beloit College), Beloit has channeled the passion of its residents into a successfully reimagined community on the riverfront. As with all Great American Main Street Award winners, Downtown Beloit has established strong local partnerships. Housed together with the Greater Beloit Economic Development Corporation, Visit Beloit and the Greater Beloit Chamber of Commerce, the organization has generated regional support for its numerous public art initiatives and innovative incentive strategies, which, in turn have resulted in quality renovations and numerous small business success stories. Moving from 19 percent vacancy in 1988 to 7 percent in 2011, and then to a waiting list of prospective businesses in 2015, Beloit is a downtown success story by any measure. Community pride led directly to the successful community-initiated development project, which created the Beloit Inn, a luxury downtown hotel project. Other community-driven initiatives and partnerships include the conversion of a former Woolworth store into a local foods grocery, creation of the Beloit Fine Arts Incubator, and selection of a downtown location for the Beloit College bookstore. Cumulative private investments of $70 million have created appealing spaces for entrepreneurs, tech companies and civic organizations alike, leading to a 192 percent increase in property values over the past 20 years and rehabilitation of more than 286 buildings. The adaptive reuse of the 750,000-square-foot former Ironworks building, begun in 2014, is the next phase of this activity. Already home to numerous software and technology-based firms, the building is also slated to become home to the regional YMCA, with a proposed pedestrian bridge across the Rock River providing additional connectivity. Moving forward, the organization continues to focus on residential development, including upper floor conversion and infill units designed to meet the needs of a growing workforce and Baby Boomer market; recruitment of additional restaurants to complement a growing food cluster; and expansion of an already active public art scene. The Downtown Beloit Association is responsible for more than 40 days of events each year, including an award-winning farmers’ market and month-long winter holiday celebration.