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The Village of Sturtevant leads the county in new construction growth with the majority of development attributed to UNFI’s 450,000 square foot building at Highways H and 11.
Village Administrator/Clerk Mary Cole told trustees Tuesday that the equalized value of Sturtevant rose by 6.55 percent, and the village’s successful tax incremental financing district – of which the Renaissance Business Park is a part – saw its value rise by 22 percent over 2014.
“Much of the village’s growth is because of UNFI,” she confirmed. “But, we have additional projects getting underway like the Leman expansion and interest from Dayton Trucking across the street from UNFI so I expect to see growth again in next year’s numbers.”
Increases in equalized value generally mean good things for taxpayers because property taxes typically stay stagnant or go down.
In neighboring Mount Pleasant, several projects got underway in 2014 and opened earlier this year or will open by the end of the year; Racine Dental, O&H Bakery, the Land & Lakes building, and Big Lots.
Figures were released last week by the state Department of Revenue.
The average growth rate throughout the county was about 1 percent when all municipalities are taken into account.
Here’s how the City of Racine and the villages east of I-94 fared:
City of Racine: 1%
Village of Caledonia: .78%
Village of Mount Pleasant: 1.24%
Village of Elmwood Park: .15%
Village of Wind Point: .03%