Industrial developer Agracel will invest $675,000 in their building at 2402 E. Empire St property to accommodate Contec’s needs. Agracel will lease 56,320 square feet of their 225,000 square foot building with a year 2 commitment of plans to grow to 95,329 square feet and will utilize Bloomington-Normal’s Enterprise Zone incentive program to assist with the build-out.
“This is an important expansion for our company and our customers. Adding this facility will enable us to offer our customers faster turnaround and lower transportation costs for their Midwest markets. We searched extensively for the right location and are delighted to be landing in Bloomington.” remarked Joseph Joy, CEO, Contec.
“On behalf of Agracel, we would like to thank Contec for choosing our team to develop their Bloomington, Illinois facility. We are thrilled to add Contec to our portfolio of clients and look forward to working together to bring jobs and investment to the Bloomington area. In addition, we are grateful for the support from the City of Bloomington, the McLean County Chamber of Commerce, and the Bloomington Normal Economic Development Council as we bring this project to fruition,” said Dean Bingham, President & COO of Agracel.
“The City of Bloomington is excited to welcome Contec to our community,” said the Honorable Tari Renner, Mayor of the City of Bloomington. “Economic Development is a priority for the City of Bloomington, and we stand ready to partner with Agracel and Contec to get the job done!”
“Contec’s announcement marks another new business in the Bloomington-Normal region. The McLean County Chamber of Commerce looks forward to providing Contec with the connections and support to grow their business here in central Illinois,” said Nathan Hinch, Chairman of the McLean County Chamber of Commerce.
“It is great to start 2020 with new business, especially a tech company like Contec,” said Bill Lawrence, Chairman of the Bloomington-Normal Economic Development Council. “We thank Agracel and Contec for their investment in our community and are happy our Enterprise Zone incentive program can assist with their development.”
ABOUT CONTEC: Contec is Technologies’ source for Logistics, Service Parts Optimization, Test, Repair, and Refurbishment. Founded in 1978, Contec is a dynamic Reverse Logistics and Fulfillment company with unique strengths in engineering, patented test innovation, and data analytics. Building creative solutions for leading brands in consumer electronics, telecommunications, computing, storage, streaming & connected devices; our commitment to execution excellence results in achieving industry-leading rates for critical-to-quality metrics such as repeat returns, bounce, and BER, which translates to overall cost savings for our customers.
Our customers rely on us to: – Maximize the life cycle of their assets – Reduce capital expenditures – Increase the quality and throughput of the returns process – Lower supply chain and logistics costs – Reduce inventory – Protect brand experience.
ABOUT AGRACEL: Over the past 34 years, Agracel has become the premier provider of development services in the tertiary markets, facilitating and retaining manufacturing and hi-tech jobs, resulting in a strong portfolio of buildings, thus creating long-term value for our stakeholders. Today, Team Agracel has developed over 20 million square feet of industrial space in 20 states.
Contact BNEDC’s Patrick Hoban at (309) 452-8437 for more information.
