International employer to help create jobs and economic growth in Naperville
The City of Naperville is proud to announce that Swedish-based industrial manufacturer SKF Group has selected Naperville as the location for its new North American research and development facility. This facility is expected to create 40 full-time jobs within the next two years and an additional 40 within four years. SKF Group chose a Naperville-based site over several locations around the U.S.
“I could not be happier at SKF Group’s decision to become a part of the Naperville community,” Mayor A. George Pradel said. “Our community is an attractive option to employers, be them local, national or international, because of the quality of this City and what we can offer to businesses and their employees. SKF is bringing more employment to the area, which is wonderful. Naperville’s reputation is second to none, and SKF’s decision to move here showcases what this community can do for businesses.”
The new 130,000-square-foot facility will be built at 1203 Warrenville Road. Chosen for its proximity to Interstate 88’s business corridor, the business will house engineers, scientists and administrative staff. According to Gov. Pat Quinn’s office, SKF chose Naperville to access Illinois’ highly educated workforce, proximity to local world class research universities, dedication to entrepreneurship and competitive cost structure.
“The tech corridor along I-88 has long been a driving force in getting new companies to come to Illinois, and Naperville in particular,” Christine Jeffries, President and CEO of the Naperville Development Partnership, said. “We welcome SKF to Naperville and look forward to the economic benefits it brings not only to this city, but to the region.”
SKF received a state incentive package worth $2.2 million over 10 years in addition to a $20,000 grant for job training. Under the state’s Economic Development for a Growing Economy (EDGE) program, companies must meet agreed-upon targets for job creation or retention and capital investment to receive credit against state income tax liability. SKF’s agreement calls for the company to invest at least $18.6 million in the Naperville location over the next decade. SKF has said its Naperville facility might eventually house 200 employees.
The Naperville City Council will discuss annexation and rezoning approvals surrounding the 1203 Warrenville Road location at its Tuesday, August 19 meeting at 7PM in Council Chambers of the Naperville Municipal Center.
For more information on the City of Naperville, visit www.naperville.il.us.
