DATE: October 4th, 2019
RE: Peoria Innovation District
The Business PAC of Central Illinois (BizPAC) strongly recommends APPROVAL of the resolution to establish a Downtown Peoria Innovation District. The establishment of this district will help confirm that Peoria is a community committed to innovation.
The BizPAC supports this approval for the following reasons:
1. There are no immediate costs to establishing this district nor does it impose a tax or fee on any property owners.
2. The project contributes to Peoria’s downtown and will be very visible to visitors from outside the area.
3. The district complements other economic development activities in this area including the expected Innovation Hub, Smart City initiative, and OSF headquarters.
4. Peoria must encourage the creation of startups established locally which will grow jobs here in our region. The Innovation District will help facilitate opportunities for new businesses.
The BizPAC strongly encourages the APPROVAL of the resolution to establish the Downtown Peoria Innovation District. The BizPAC will be tracking this vote and including it on the BizPAC Scorecard which is used to help assist the BizPAC in the endorsement process.