Need more proof that economic development corporations are playing a major role today in bringing new business to the Midwest? Then consider the latest news from the Rock County Wisconsin Development Alliance: The alliance, in conjunction with the Wisconsin Economic Development Corporation, has helped bring a software design and development company to downtown Beloit, Wis.
Comply365, the company, announced that it will move its headquarters to the Ironworks Campus in Beloit. The company, which is leasing more than 4,000 square feet of office space, also expects to bring new jobs to the region during the next three years.
Officials at Comply365 said that several factors convinced them to set up shop in Beloit. The economic incentives provided to the company certainly played a role.
“The economics of the Ironworks, coupled with its appealing high-tech environment for employees and clients alike, matched our location requirements,” said Kerry Frank, co-founder and chief executive officer of Comply365, in a written statement. “Wisconsin’s favorable business climate and its coordinated economic development approach were important factors, as well.”
The Ironworks Campus is important to Beloit’s economic health. The 750,000-square-foot mixed-use property is home to more than a dozen companies that represent a range of industry sectors. The property is owned, managed and developed by Hendricks Commercial Properties, LLC.
The Wisconsin Economic Development Corporation helped convince Comply365 to make the move by awarding the company a healthy tax credit.
The hope now is that Comply365 will inspire other high-tech firms to make the move to Rock County.
“With each technology-orientated project announcement, the Janesville-Beloit MSA continues to demonstrate that it’s ready for these types of investments,” said James Otterstein, Rock County economic development manager.
— Dan Rafter