BELOIT — Beloit’s sustained economic development managed to weather the brunt of the COVID-19 pandemic in 2020, with construction and building permit figures remaining on track with past years of development just at the halfway point of 2021.
Beloit Development Director Jennifer Hall, who also serves as CEO of the Greater Beloit Economic Development Corporation, said the sustained growth was in part due to the constant pull of large-scale corporations filling out the Gateway Business Park, coupled with sustained single-family and multi-family residential development in all parts of the city.
In 2021, 707 building permits worth a total of $16.5 million have been approved as of July 1 in the City of Beloit.
Those figures do not include building projects like the addition of a future Kwik Trip on Prairie Avenue; the storage unit development at the former Shopko building on Prairie Avenue or the Spray-Tek project in the Gateway Business Park. The Spray-Tek project will represent a $30 million investment in Beloit over the next three years.
Major projects hit the city’s development numbers in 2019 and in 2020, which pushed figures to new heights from past years, from the addition of the Amazon fulfillment center, soon-to-open ABC Supply Stadium which will be home to the Beloit Snappers baseball team, and the Lincoln Academy charter school.
In 2019, 1,170 building permits were approved worth a total construction value of $153.2 million. Those figures remained higher than normal even in pandemic-struck 2020, as the city approved 1,217 building permits worth $87.3 million in overall construction value.
“As you can see from the numbers development has not slowed in any way in our community,” Hall said. “We continue to receive a great amount of interest from developers of all market segments throughout the community.”
The Gateway area continues to be a hotbed of interest for businesses looking to relocate or build new in the city as the industrial area prepares to celebrate 20 years of attracting growth to Beloit’s business base, with the largest project being Amazon. The Gateway Business Park includes Kerry Ingredients, the Staples Order Fulfillment Center, Kettle Foods/Campbells, The Morse Group, Specialty Tools, Alliance Development, NorthStar Medical Radioisotopes, Chicago Fittings, G5 Brewing Co. and Pratt Industries.
Hall said the city and GBEDC would “soon be announcing” another development project in the Gateway, but no further details were available as of press time Sunday.
“Commercial and residential development is alive and well in Beloit as well. Beloit’s economic growth continues and its future is bright,” Hall said.