Material Control Systems Plans $10 Million Logistics Facility In East Moline, Illinois
Area Development Online News Desk (09/25/2013)
Material Control Systems, Inc. plans to build a $10 million logistics facility in East Moline, Illinois, more than quadrupling its workforce by adding 150 new jobs.
The new 100,000-square-foot East Moline warehouse will be used to assist in the distribution of the company’s packaging and shipping products. MATCON has expanded into the manufacturing of plastic returnable packaging systems and urethane products for shipping. Headquartered in Port Byron, with another production facility in Cordova, Illinois, the firm also operates facilities in Iowa and North Carolina.
“I’d like to thank the State of Illinois, the Quad Cities Chamber of Commerce, and The National Bank for making this new facility a reality and in the process creating 150 new jobs for the Quad Cities area,” MATCON owner and president Donn Larson said.
“MATCON is a company with a long history in Illinois going back to the 1930s,” Gov. Pat Quinn said. “Its commitment to grow here in the heart of the heartland is a testament to Illinois’ skilled workforce and our longstanding role as the nation’s central transportation and distribution hub.”
As an incentive, MATCON will receive a $1,015,000 loan through the state’s Advantage Illinois program, which helps small businesses gain access to capital and is federally funded. The Advantage Illinois loan is part of a total $10.15 million loan package through a private bank and the Small Business Administration. Funding for Advantage Illinois is provided by the U.S. Treasury through the State Small Business Credit Initiative.
MATCON is also eligible for Economic Development for a Growing Economy tax credits, which are issued based on job creation. The EDGE tax credits are performance-based, meaning a company is not eligible for them unless it meets its commitment to create new jobs, keep existing jobs and make the agreed upon private investment.
“Small and medium sized business like MATCON play a vital role in creating jobs and fueling economic growth in Illinois,” DCEO Director Adam Pollet said.