Area officials — and more than a few shoppers — can’t wait to see the retail complex now taking shape on the former K’s Merchandise site on North Vermilion Street open for business.
Construction for Kohl’s and T.J. Maxx already has started, with work on the Meijer project to begin soon.
Other retail development could accompany the major businesses planned for the site as time goes along.
City officials out together an incentive package to entice developers, a common practice these days. But the investment should prove worth it within just a few years.
The new retail stores should mean more sales tax revenue for the city as well as property tax dollars. The rebate plans offered by the city should be repaid in five years, if sales forecasts hold true.
That combination makes the projects winning deals for the businesses, the government officials involved and the shoppers who now will spend their money locally instead of in another community.
The North Vermilion project follows strong development along Lynch Road in recent years, with several national motel chains opening there.
The Kohl’s/Meijer efforts also precede plans by Tilton officials to reconstruct its Interstate 74 interchange and develop the area around it.
The state of the economy in recent years would make it easy for area officials to simply sit back, wring their hands and bemoan the state of things. Instead, they continue to look for opportunities to bring development to their communities.
Now those efforts should pay off in many ways. Let’s hope we haven’t seen the end as of yet.