Oglesby courts a business to invest $6.7 million, bring 150 jobs

Oglesby is in talks with a solar energy company, Knobelsdorff Enterprises, Inc., interested in the Badge-A-Minit building. KEI proposes a $6.7 million investment and, eventually, 150 jobs.

Monday, the Oglesby City Council voted unanimously to place on file a redevelopment agreement with KEI, which specializes in industrial automation, electric and power services. KEI seeks to expand operations into Illinois.

Under the redevelopment agreement, KEI would receive 50% of the increment from a Tax Increment Financing district to fund capital improvements. In exchange, KEI agrees to a minimum of 20 full-time employees by Jan. 1, 2026, and add jobs at a rate of 20 per year.

“The thing I think is really important for Oglesby is that’s more families and more full-time jobs in the area,” Mayor Jason Curran said.