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.
