"It's very hard for them to expand beyond their currentboundaries," sys Dina Wayne of the department of planning anddevelopment's finance division. "What it comes down to is helpingS&C Electric to the kind of rehabilitation it needs to do toremain competitive."
The maker of switching and electrical products wants to increaseits production capacity but is hampered by a series of buildingsthat average 34 years old, Wayne says, which is considered near theend of their economic life. Without tax increment financing, the93-year-old company, which has been at its Rogers Park locationsince 1949, S&C Electric would likely consider a relocation outof the city.
"If there's ever any TIF that's more justified, I don't knowabout it," says 49th Ward Alderman Joe Moore. "This is aboutretaining jobs in the city."
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