PEORIA (25News Now) – City leaders in Pekin remain confident that the planned technology park will serve as a significant catalyst for regional economic growth, even though tangible outcomes are still projected to be years away. n nThe municipality has secured the Lutticken property and is now in the process of finalizing a deal to transfer approximately 320 acres—roughly one-third of the land—to a developer focused on building data centers. n nOfficials estimate the initiative will generate around $20 million annually in property tax revenue and create employment opportunities, both during the construction phase and once operations begin. n n”The rise of data centers is a nationwide trend,” noted Josh Wray, who oversees economic development in Pekin. “This kind of infrastructure is expanding across the U.S., so we believe Pekin is well-positioned to be part of this shift.” n nThe development is anticipated to launch within the next two years, with construction set to occur near the intersection of Highway 98 and Veterans Drive. n n— news from WEEK | 25 News Now
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Pekin technology park seen as economic driver, though benefits still years away
PEORIA (25News Now) – Pekin city officials are optimistic that good things will come from the community’s investment in a technology park. n nHaving acquired the Lutticken property, the city is under contract to sell a third of it, about 320 acres, to a technology park developer, primarily for data center projects. n nThe city anticipates this will bring jobs to the city not only in the data center, but with construction. and an additional $20 million in yearly revenue from property taxes. n n“Data centers are happening all over the country, it’s a movement. They’re going to happen everywhere, so our thought is why not Pekin,” said Josh Wray, who leads Pekin’s economic development efforts. n nThe project is expected to take another two years to get underway. It will be built off Highway 98 and Veterans Drive. n nYou can watch 25News – any newscast, anywhere – streaming LIVE on 25NewsNow.com, our 25News mobile app, and on our WEEK 25News SmartTV streaming app. Learn more about how you can get connected to 25News streaming live news here.