Peoria, IL – TransPORT (The Heart of Illinois Regional Port District) announced today it will begin the redevelopment of its first port project on 80 acres of land that includes the 1 million square-foot former Caterpillar foundry located in Mapleton, just south of Peoria. 

 

The first phase of the site and facility redevelopment will begin thanks to a $300,000 grant from Caterpillar Inc., combined with a $250,000 Opportunity Returns grant from the State of Illinois Department of Commerce and Economic Opportunity (DCEO) secured by Senator George Shadid. 

 

"In order to promote a healthy and vibrant economy, we need to invest in efforts that support the redevelopment of underutilized sites that have great promise for future development and business investment.  This port redevelopment project is an excellent example of a public-private collaboration that will lead to economic revitalization in a very important area of the state.  I want to thank Senator George Shadid for his tremendous leadership and efforts in securing these funds and commend TransPORT and Caterpillar for their support in creating more job opportunities for the hardworking people in Central Illinois," Gov. Rod R. Blagojevich said.

 

“This partnership between the State of Illinois, TransPORT and Caterpillar is what smart economic development is all about,” said Senator George Shadid (D-Pekin).  “This underutilized port site along the Illinois River has sat idle for far too long, and Gov. Blagojevich and I are committed to supporting redevelopment of this former foundry into an economic engine for Central Illinois.”

 

The signing of a non-binding memorandum of understanding (MOU) with Caterpillar Inc. today enables TransPORT to begin redevelopment activities on the former foundry.  Under the terms of the MOU, TransPORT plans to develop the former foundry as an active and vibrant port site, with the potential to house multiple warehousing and manufacturing companies, which could generate hundreds of jobs in the long run. TransPORT will create a complete site development plan that will address converting the existing foundry layout into an intermodal facility that can accommodate warehousing and industrial operations. 

 

“I am proud of our involvement in this important project for our hometown,” said Doug Oberhelman, Caterpillar group president.  “The teamwork involved in making today’s announcement happen demonstrates Caterpillar’s commitment to working with a wide range of partners in the Peoria area to find additional ways to further strengthen our regional economy.  By working together, we can leverage the tremendous strength that exists right here in Central Illinois.” 

 

“Rehabilitating this facility is a great investment for us – the facility itself is of tremendous value to TransPORT and the region, and a great location for our first port development – it puts us in a whole new ball game,” says Dan Silverthorn, Chairman, TransPORT Board of Directors.

  

“With logistics being the second fastest growing industry in the Nation and with the region’s 5-Star Logistics Friendly ranking, we are perfectly positioned to capitalize on our assets,” says Jim McConoughey, Interim Executive Director, TransPORT.  “Once redeveloped, this facility will be an attractive location for new and expanding companies in terms of space availability and convenient access to all modes of transportation.  Our hope is that this facility will create hundreds of family wage, non-exportable jobs.”

 

TransPORT is engaged with several other projects throughout the region, however this facility will be TransPORT’s first major port development project in its six-county region. TransPORT will continue to explore potential developments and opportunities to assist local businesses with their needs and growth potential and attract additional jobs and business to the region.