Advantages Exist in Boone County for Companies to Onshore Now
2 Sep 2020
Disrupted supply chains and delayed product deliveries have been a significant factor in today’s COVID-19 business environment. For decades, offshoring manufacturing operations overseas have been a staple of cost savings initiatives. But with those cost savings disappearing, company executives are now turning to onshoring as the logical solution to reducing the risk of future disruptions and delays. And Boone County already possesses all the business advantages any company needs to make onshoring a successful venture.
With 60% of U.S. manufacturing companies surveyed by Thomas reporting COVID-19 business disruptions this is a widespread issue impacting virtually all industries. Though companies may not be looking to move their entire operations back to the United States, opening U.S. manufacturing facilities as part of their global operations certainly is. In that scenario, Boone County certainly has a lot to offer, including a progressive, cooperative environment focused on creating jobs, promoting community assets and stimulating capital investment through utilizing numerous tax advantages and business retention and attraction efforts.
In addition to companies onshoring directly, 28% of suppliers surveyed reported that they are seeking domestic sources. This will create expansion opportunities for current U.S. manufacturers. Boone County is uniquely positioned to support that growth and to be a home to growing companies, or those onshoring for the first time.
Why Companies Should Onshore in Boone County
Available Commercial Sites
Boone County has a considerable selection of commercial sites. For example, located in Belvidere, the Crosslink Industrial Park offers everything a business needs. The total park comprises 118 acres, but is divisible down to five-acre sites. Zoned as heavy industrial, existing park infrastructure includes natural gas, electricity, water, sewer, 1GB fiber and rail access. Other benefits include an Enterprise Zone designation and property tax abatement approval. The park is only 13 miles from the Chicago Rockford International Airport, which is the UPS Regional Hub and 56 miles to Chicago O’Hare.
Boone County also has available buildings, such as this 100,358 square-foot building suitable for heavy industrial needs. It includes several cranes in two bays with 8″ rebar-reinforced concrete floors throughout and two existing docks and room for 12 more.
Because Boone County is located in north-central Illinois, quick and easy access to several large urban areas exists throughout. Rockford is only 15 miles away, while Chicago, Madison and Milwaukee are 70 to 90 miles from the county. The county is home to the Poplar Grove Airport and is within 75 miles of six primary airports with a combined total of 10,000 passenger boardings annually. In addition, Boone County’s location has many tax advantages for businesses. Most significant are those to be found in the Enterprise, Opportunity and Foreign Trade Zones located throughout the county. Businesses operating in these zones receive tax and duty reductions, as well as supply chain and inventory control advantages. Many Boone County industrial sites have access to Union Pacific Rail and are also thirty miles from the new Union Pacific Global III Intermodal Facility.
The Boone County area is defined by a regional workforce of which more than 20% is employed in manufacturing industries and over 10% is directly involved in production occupations. Those percentages are significantly higher than competing industrial areas, offering a talented workforce ready for your business.
Reasons to Onshore Now
COVID-19 has demonstrated the scope and scale of the impact a global pandemic can make, but it’s not the only disaster that can disrupt supply chains. Environmental factors are another one. The world has suffered an increase in severe hurricanes, earthquakes, fires, etc. - all things that are unpredictable and cannot be controlled. Unfortunately, many of the same countries where U.S. companies have manufacturing operations have been hardest hit by these disasters and their infrastructure is not secure enough to withstand them. For example, the 2001 earthquake and tsunami in Japan and floods in Thailand had crippling effects on the electronics and automotive manufacturing sectors. Put simply - the global supply chain is fragile. Businesses who want to protect themselves must onshore at least part of their operations to protect their interests.
We Can Help
Growth Dimensions understands the process of finding a site, obtaining permits, constructing a facility and hiring and training a workforce can seem daunting. If onshoring in Boone County is part of your business protection strategy, contact us to learn how we can provide assistance throughout the entire process.
Resources and Further Reading