Quincy plans expansion of enterprise zone ahead of United Alloy's 200,00 sq. ft. facility

QUINCY, IL (KHQA) — The city of Quincy has decided to move forward with the plans to expand its enterprise zone for United Alloy’s new facility.

During Monday’s meeting, the Quincy Finance Committee made the recommendation that the zone be expanded for the state-of-the-art manufacturing facility sustaining $12,000 in administrative costs.

If the City Council approves the proposal, United Alloy’s current 40-acre plot will receive a property tax abatement, meaning it would reduce the property tax value with the company’s infrastructure and land development efforts.

United Alloy will make an investment of $40 million in the construction of the 200,000 sq. ft. facility—which would bring in over 100 high-paying jobs to Quincy.

The enterprise zone has been around Quincy since the early 1980’s and the city extended in in 2014 for another 20 years.

These zones provide an abatement for 10 years—providing an incentive for encouraging new investment and community.

Now—since the abatement will affect all local taxing bodies—a complex application to the state is required.

The city will contract PGAV Planners out of St. Louis to complete state paperwork and intergovernmental agreements as well as select a surveyor to prepare a description of the new legal boundary.

It is estimated the cost for both will be approximately $12,000 with half of that being paid by United Alloy.

The company will also pay an application fee for the program which could cost up to $50,000—depending on the cost of building materials for the new facility.

United Alloy told the Planning and Development Department that they hope to break ground in late 2024 or early 2025.

Construction is expected to take 12 to 18 months.