Peoria will host its second annual Investment Forum March 29.

By Philip Haldiman, Independent Newsmedia

Peoria officials want people to know their city is open for business.

The city is setting its sights on investors and developers for its second annual Peoria Investment Forum, March 29.

Mayor Cathy Carlat said the event was created to reveal the city’s market and business advantages and show them off to investors and developers.

The goal is to bring high quality employers to the city to produces good jobs, allowing for residents to live, work and play in Peoria, she said.

About 93 percent of Peoria residents of working age commute out of the city to work, according  to a study by Wadley-Donovan-Gutshaw Consulting.

Ms. Carlat said Peoria is about 180 square miles, which is about 50 percent to build-out.

“We are creating an environment that draws employers and gives our families the best quality of life possible,” she said “And there are many opportunities for industrial and commercial business attractions and land development to do that.”

The forum features properties controlled by the city, such as the P83 Entertainment District,  properties owned by entities that have partnered with the city and redevelopment projects.

Site sheets will also be available for a  number of properties on sale throughout the city.

“Peoria Investment Forum attendees can expect an in-depth introduction into the many new commercial office, mixed-use, and redevelopment opportunities that the Peoria Economic Development Services Department has available for immediate public and private partnerships,” said Economic Development Director Scott Whyte.

In March 2016, the Economic Development Services Department hosted the first Investment Forum in Peoria to showcase available sites in the city for new commercial office and industrial development to increase the city’s inventory of suitable space to attract targeted industries.

More than 80 investors and developers attended.

The Investment Forum resulted in an agreement between the city and Peoria-based Plaza Del Rio Management Corp to serve as the master developer for an office/business park project, located on 14 acres of city-owned land at the southwest corner of Loop 101 and Peoria Avenue. The proposed project is to build class A-/B+ office buildings with possible retail elements.

Jennifer Stein, a spokeswoman for the city, said one goal of this year’s forum will be finding tenants for that future office space.

“The purpose of the (partnership) is to establish a period of time for the Plaza Companies and city to evaluate the best development program for the site at Peoria Avenue/Loop 101, while working towards a ground lease and development agreement which both parties are currently working on,” Ms. Stein said.

The development agreement could go before Council for consideration in June.