Rockford, IL, Sept. 20, 2019 (GLOBE NEWSWIRE) — Community leaders and partners of the Rockford City Market project gathered today to cut the ribbon on the new indoor venue of the Rockford City Market.
Speakers included Peter Provenzano, Chairman of the Rock River Development Partnership, Thomas Budd, President/CEO of Rockford Bank & Trust, Karl Franzen, Director, Community and Economic Development, City of Rockford, and Joe Scandroli, Jr., President of Scandroli Construction Co.
Construction began in March of 2018 on the project in downtown Rockford and includes funding from the City of Rockford, Rockford Bank and Trust, Southside Community Optimal Redevelopment Enterprise (SCORE), US Bank, Twain Financial Partners, Rock River Development Partnership and private contributions.
In addition to federal and state historic tax credit investments, the Rockford Indoor Market project includes a highly competitive federal New Markets Tax Credit allocation, a first for Rockford.
Thomas Budd, President/CEO of Rockford Bank & Trust, said: “We are pleased to be an integral part of the team of financial institutions and community organizations that came together to support this project. The Rockford City Market has been a catalyst for small business incubation and downtown revitalization over the past 10 years. We look forward to the expanded programming and growth that will occur with this new development.”
The new market includes a food hall open 5 days a week with 3 current tenants, all of whom started at the weekly Friday market and now have permanent storefronts. Crust & Crumbles, an artisan bakery, Ronit’s Kitchen, a Mediterranean eatery, and Quixotic Bakery, specializing in cookies, brownies, candies and ice cream. A 4th tenant will be announced soon. The market also features a 1,500 square foot incubator kitchen available for lease for entrepreneurs and small businesses, and the Bowtruss Room and Market Hall, both venues for community events and available for private rental.
“The indoor market development is a wonderful complement to the seasonal Friday night gathering.” said Peter Provenzano, Chairman of the Rock River Development Partnership. “This space will allow our vendors to extend their season and provide a venue for us to offer additional programming for the community and bring even more people downtown year-round.”
Karl Franzen, Community and Economic Development Director for the City of Rockford emphasized “Supporting small businesses and entrepreneurs, minority-owned and women-owned small businesses, is a key strategy in the City of Rockford’s economic development plan. The Indoor City Market is an important investment in the Rockford’s small business ecosystem and will benefit entrepreneurs and entire community.”
Cathy McDermott Rockford City Market cathy.mcdermott.org