Manufacturer closer to moving HQ to Aurora

A manufacturing company based in Melrose Park that wants to relocate its headquarters to Aurora cleared its first hurdle Wednesday. If approved, the plan would bring more than 800 jobs to DuPage County.

The county board's economic development committee agreed to move forward with Peerless Industries, Inc.'s proposal to use a federal economic stimulus program to relocate its corporate, distribution and manufacturing headquarters to the DuPage portion of Aurora. The company builds audio/visual support mountings. Most manufacturing jobs currently are located in China, but company officials said those operations would be ceased and the jobs moved to the Aurora facility.

The county's economic development arm, Choose DuPage, vetted the proposal and signed off on the plan before it went to the county board committee.

"This will bring new jobs to our area as well as boost our local economy," said county board member and committee Chairman Grant Eckhoff. "Other businesses interested in this program should contact Choose DuPage to see if they qualify."

Peerless is seeking $20 million worth of the county's $69 million federal borrowing power created by the program. The company can borrow the federally subsidized low-interest funds to facilitate its move. That will leave $49 million available to other companies who want to do something similar in the county, officials said.

This was the first project to seek the county's borrowing assistance through the federal program. About half of the jobs moving to DuPage will come from overseas, Eckhoff said. The program ends in January.

Fellow county board member and committee member John Zediker echoed Eckhoff's enthusiasm. The project will be located in Zediker's district.

"We are very pleased to see jobs coming into our region, rather than leaving it," he said. "This is a win-win for everyone committed to growing our economy and creating jobs, in our county, state and nation."