Monday, October 28, 2013

Huntley Snags Cargo Equipment Corp. $3 Million HQ

Thursday evening October 24, 2013, the Huntley Village Board passed in Inducement Resolution proposing a $3.3 million industrial revenue bond issue to finance construction of a new 40,000 square foot headquarters and manufacturing facility for Cargo Equipment Corporation on George Bush Court in Huntley Corporate Park. Cargo Equipment, which is moving to Huntley from its smaller Elgin plant, makes bungee cords, ratchet straps and other load securing equipment for the moving and trucking industries. Construction on the new facility will begin in the spring of 2014, and will double the size of Cargo Equipment’s present plant.

The new Huntley plant will ultimately employ about 45 people. Cargo Equipment President Jeff Iden cited Huntley’s lower construction costs and its location at the new interchange of I-90 and Illinois 47 as key factors in selecting Cargo Equipment’s new location. In proposing the industrial revenue bond issue to finance the new plant, Huntley Village President Charles Sass said Cargo Equipment joins six other major businesses which have moved to Huntley within the last two years. The new facility should be operational by fall 2014.
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