Frankfort trustees Monday agreed to dole out a $10,000 grant to a power equipment company new to the village.
Russo Power Equipment, a power equipment company and landscape supply dealer, recently purchased the former Gas City properties at 21660 and 21700 S. LaGrange Road. The 27,658-square-foot building and 17,000-square-foot warehouse in Frankfort will be Russo Power Equipment’s fourth location.
Russo is expected to bring 25 to 30 jobs to the area.
The Village of Frankfort recently introduced its new “Target Industry and Industrial Incentive Program” (T3IP) as an economic development tool to attract new construction and the expansion of current industrial businesses in its industrial park. The three-tiered grant program offers incentive to new industrial construction, or the expansion of qualified target or non-target industries.
Russo Power Equipment is the first applicant to be awarded a grant under this new program. The grant will be issued upon completion of the improvements eligible under the Target Industry & Industrial Incentive Program.
“We are very pleased to approve grant funding for Russo Power Equipment under our new industrial incentive program," said Mayor Jim Holland. "Industrial development benefits Frankfort residents by helping to control property tax increases, and the Frankfort Village Board will continue its efforts to increase our industrial business base. We welcome Russo Power Equipment to the Frankfort community."
"The community has been extremely welcoming," said Eric Adams, President of Russo Power Equipment. "We’re excited about our latest Frankfort location opening this fall and really look forward to servicing an area our customers have directed us to service,"