Illinois Business Journal Illinois Business Journal
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Skeptics worry that the state's inability to pass a capital budget may be hindering initiatives such as Opportunity Returns.     Photo Courtesy of the Associated Press

Republicans continue to fight governor's debt plan
By KERRY L. SMITH

   SPRINGFIELD - Although state lawmakers concluded their 51-day overtime session July 24 and Gov. Rod Blagojevich signed the state's $43 million operational budget seven days later, legislators did not reach agreement on a capital budget - a plan to finance long-term outlays for fixed assets.
   Typically legislators vote on the capital budget and the operations budget at the same time, but not this year. Lawmakers are planning to pass a capital [continue]
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Home builder bucks Bluff trend by building in Bottom communities

By ALAN J. ORTBALS

   Home builders continue to flock to the Bluff communities in Southwestern Illinois.
   Between June 2003 and May 2004, 2,663 new homes were started in Madison and St. Clair counties - the great majority of them in [continue]

Stark Homes is an example of a residential developer and home builder who is enjoying success in building in the American Bottoms communities.
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Tight South County real estate market may drive companies to SW Illinois
By ALAN J. ORTBALS

   Is Kuna Meat Inc.'s recent announcement to move to Dupo, Ill. from its current home in south St. Louis County a portent of things to come?
   Kuna Meat has been leasing 50,000 square feet of space in the Bussen Quarry on the Missouri side near the Jefferson Barracks Bridge. Continued and expected future growth led Kuna to the conclusion that it needed to expand to 80,000 square feet.
   The company performed a thorough search of South County and Fenton-area real estate but could not fulfill its needs, according to Kuna Meat attorney Mike Kaemmerer with McCarthy, Leonard and Kaemmerer.
   Kuna Meat's story is typical of the South County industrial real estate market, according to Jeff Hawley, vice president with Colliers Turley Martin Tucker.
   Owners of businesses have been reluctant to consider the Illinois alternative, he said.
   "As much as 80 percent of the industrial users in South County own their own buildings and they live in South or West (St. Louis) County," said Hawley. "Their labor force is located in South County or Jefferson County.
   "These entrepreneurial people live in Chesterfield or Manchester or Ballwin and they don't want to fight the traffic and drive to Westport or that area," he added.
   Meanwhile, companies can't go very far south because of the Ozark Uplift which is characterized by hilly terrain and rocky soil. This geography makes it [continue]

 

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