ANH Financial Services, a resource of ARCO National Construction, partnered with Prova, a flavors manufacturing company, to identify incentive opportunities for a new 75,000-square-foot build-to-suit manufacturing facility in Elgin, Illinois. The $8 million capital investment will support the creation of 35 new jobs and required a comprehensive approach that balanced operational efficiency with financial feasibility in the competitive Chicago metro market. ARCO National Construction is serving as the design-build partner on the project.
Navigating Illinois’ Complex Incentive Environment
Illinois is widely recognized as one of the most challenging states in the country for securing economic development incentives. Strict qualification requirements, complex application processes, and limited funding programs often create significant barriers for manufacturers pursuing new capital investments. These challenges introduced added financial risk and threatened the overall project economics.
Integrating Incentive Strategy into Project Planning
Through its in-house resource, ANH Financial Services, ARCO was able to integrate incentive strategy directly into the project planning process. The team conducted a comprehensive review of Prova’s capital investment, job creation plans, and project timeline to identify incentive opportunities aligned with the client’s long-term business objectives.
Despite Illinois’ stringent requirements, ANH Financial Services successfully identified $1.83 million in potential state and local incentive opportunities. By proactively engaging with economic development agencies and key stakeholders, ANH Financial Services negotiated a customized incentive package designed to reduce upfront capital costs and improve long-term project feasibility.
Delivering Measurable Financial Impact
As a result of this integrated approach, Prova ultimately utilized $830,000 in secured incentives. These incentives strengthened the project’s financial position, reduced the client’s capital burden, and helped transform a highly competitive, cost-sensitive site into a viable and successful location for expansion.
A Strategic Advantage Beyond Design-Build
By combining ARCO’s design-build expertise with the incentive and financial knowledge of ANH Financial Services, ARCO delivers more than a facility. Clients gain a strategic advantage that strengthens project economics, mitigates risk, and supports long-term growth.
ABOUT ANH FINANCIAL SERVICES
ANH Financial Services is ARCO National Construction’s in-house resource dedicated to aligning financial strategy with project delivery. Through early engagement and incentive planning, ANH Financial Services helps reduce capital costs and enhance long-term project outcomes.
