City officials now set their sights on “Project Ventus” in DeKalb

DeKALB – As city officials continue to tempt an international confectioner to DeKalb’s south side with the promise of tax incentives and job creation, they’re also setting their sights on another employer eyeing the area: a knowledge-based company which is now being called “Project Ventus.”

Project Ventus is the subject of a number of resolutions up for a council vote Monday in relation to the city’s participation in the DeKalb County Enterprise Zone, created in 2014 to expand DeKalb County’s economic development footprint and offer packages to incentives business. Project Ventus has not been identified, though city staff have been in negotiations for months with a potential international knowledge-based company which would could bring 50 jobs and significant technology investment to the region.

DeKalb City Manager Bill Nicklas will present the recommended changes to the Enterprize Zone to better prepare for the potential international knowledge-based company which could invest $800 million into a 900,000-square-foot space on DeKalb's south side.

Much like Project Hammer's tax incentive package, Monday's vote could solidify a property tax abatement offer for the company. The city council will vote on the measure, which is being proposed through an amendment to an existing intergovernmental agreement with the Enterprise Zone.

Part of the proposed 20-year, 55% property tax abatement would require an $800 million investment by the unknown company, a requirement of 50 jobs, and 900,000-square-feet of development in a 505-acre area south of Project Hammer on Gurler Road, city documents show.

"All I can say at this point is that those are criteria we have discussed with Project Ventus," Nicklas said. "And they believe those are achievable."

In order to include the Project Ventus site in the Enterprise Zone, the council must approve an amendment to extend the area which is recognized as part of the zone. The extension would grow the zone from the 13 miles it has currently to then include the 505-acre site, which is comprised of roughly four different pieces of farmland owned by four different individuals.

Nicklas said the company and city are currently in conversation with those private landowners but could not give details on the negotiations.

"We're working that out," Nicklas said.

If the council were to approve the Enterprise Zone requests, the land that Project Ventus would sit on would also be annexed to the City of DeKalb.

“All the land that Ventus would sit on is Afton Township,” Nicklas said. “In a nutshell, what we’re doing is extending and slightly expanding the incentive packages that were designed to attract Project Hammer.”