Project Will Advance Local Job Creation
RIVERTON - Illinois Department of Commerce and Economic Opportunity (DCEO) Director Warren Ribley today announced a $525,000 Community Development Assistance Program (CDAP) grant for the Village of Riverton. The grant will be used for local infrastructure improvements in support of a new material recycling recovery facility, which is expected to create 25 full-time jobs.
“We must continue to find ways to best leverage our resources to create jobs,” said DCEO Director Warren Ribley. “This funding will help create a recycling facility that will not only help protect our environment, but will also stimulate the local economy by creating jobs.”
“This project is a great opportunity for the Village of Riverton,” said Rich Pottier, Village Trustee. “The facility will create jobs and increase revenue in our community. We welcome S.I.C. Recycling, and look forward to a long and successful partnership with them.”
The Village will use the CDAP funds to extend electric and gas infrastructure to the project site, and to equip the facility for initial operation. The new facility will be built and operated by SIC Recycling, Inc., a recycler and processor of non-ferrous materials, near the I-72 interchange at Overpass Road in Riverton. The company’s primary operation is the purchase of scrap materials which are then processed, granulated and separated and sold as commodities to various end-users. DCEO is also providing S.I.C. with a $380,000 business investment package consisting of tax credits spread out over a 10 year period to support job creation.
“We are grateful for the cooperation and effort we have received from the Village of Riverton and everyone involved in this project,” said Brady Bird, General Manager, S.I.C. Recycling, Inc.
“S.I.C. Recycling looks forward to being a part of this community and anticipates this partnership to be a rewarding one for all involved.”
“We were delighted to be of assistance in facilitating this successful partnership between Riverton and S.I.C.,” said Diane Reinhart, Vice President, Business Development & Attraction, The Greater Springfield Chamber of Commerce/Quantum Growth Partnership. “Attracting new businesses to our community is vital to the continued growth and development of our economy, and this is a huge step for the Village of Riverton and for Sangamon County.
Illinois' CDAP program, known nationally as the Community Development Block Grant (CDBG) program, targets federal funding into a variety of community-based projects. Communities with populations of 50,000 or less can apply for CDAP-Flexible Opportunity grant funding to support a variety of projects falling outside of other CDAP program parameters, but providing significant community-benefit.
DCEO is the state's lead economic development agency responsible for creating jobs and building economic prosperity. For more information, visit DCEO's website at www.ildceo.net