News

$37.8 Million Project to Retain and Create New Jobs for Community Residents

March 10, 2009

March 10, 2009
Alderman Margaret Laurino (39th Ward) announced that the Community Development Commission today approved a plan to help support the renovation of property in the Peterson Pulaski Industrial Corridor with $5 million in TIF assistance.
CCH (a Wolters Kluwer company), located at 4025 West Peterson Avenue, will be upgraded into a more modern 220,000 square foot publishing facility with new building systems and office and production spaces.  The two-story building, constructed in 1954, has been occupied by CCH for 50 years and was purchased by the company in April 2008.  The rehabilitation of the property is expected to retain over 400 jobs at the company.
"During these tough economic times, it is crucial to protect the existing jobs in our community," said Alderman Laurino.  "In addition to retaining jobs, this project is expected to create an additional 40 full-time jobs for neighborhood residents."
Under terms of the agreement, CCH will work to achieve Leadership in Energy and Environment Design (LEED) certification for the use of environmentally-friendly practices in its design, construction and operation.  The $37.8 million acquisition and renovation will be supported with the $5 million in TIF assistance.
Founded in 1912, CCH is a leading publisher of tax and business information.