City officials get feedback on economic development efforts - KTIV News 4 Sioux City IA: News, Weather and Sports

City officials get feedback on economic development efforts

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It's been about a year and a half since the City of Norfolk granted a $500,000 to Premiere Marketing for an expansion project.

It was the first project to be partially supported with the city's LB840 economic development fund, and many were eager to see what type of return the city would get on that investment.

The City Council received a report from local economic development officials last night on Premiere Point, which used to be a big empty lot at the corner of Riverside Boulevard and Benjamin Avenue.

The city's report revealed that Premiere's expansion allowed the company to keep 50 jobs locally, and create another 27 on top of that.

In addition, city officials say Premiere has invested about $3.2 million in renovating the property.

In all, both local and state economic officials are saying that Premiere Point is a resounding success when it comes to LB840 dollars.

Monday night the City Council approved granting $60,000 to Peterson Ag Systems that city officials say will help that company build a headquarters in Norfolk.

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