ROCHELLE – Last week, Rochelle City Manager Jeff Fiegenschuh said he had no update on when ‘Project Jackpot’ will reveal its company identity and officially announce plans to open a location in town. 

The still-anonymous business, which has purchased the former Nippon Sharyo buildings, is said to be making a capital investment of over $130 million and adding 150 jobs that pay an average of $52,000 per year before benefits to the area. Fiegenschuh previously said an announcement could come in November. 

“When they're ready to announce, we'll be the first ones to help them do it,” Fiegenschuh said. “I should not have used a November date. I was hoping. They were supposed to announce it by now. I don't want to put a date on it. We'll announce when they're ready to."

City officials signed non-disclosure agreements and are unable to reveal the identity of the Project Jackpot company. The city manager said economic factors such as supply chain delays could factor into why the company still hasn’t announced yet. 

“There's a lot of things going on in the economy that I would guess are pushing back their ability to open now,” Fiegenschuh said. “They were supposed to start using power from us already. We don't have the components to get and they don't have the components to get. The best answer I can give is they'll announce when they're ready to announce.”

The Lee-Ogle Enterprise zone was amended by the Rochelle City Council and other area members to attract Project Jackpot by adding 10 years of 50 percent abatement, creating a category for companies that make an investment of $100 million or more plus adding at least 125 new jobs and a pay rate of $50,000 or more before benefits and maintaining 95 percent employees. There are a total of 12 years of abatement for Project Jackpot’s west building. The east building won’t be abated at all. 

The city also reached a development agreement with Project Jackpot. 

Fiegenschuh said previously the city has invested a “significant” amount in attracting Project Jackpot in terms of incentive dollars and staff hours. Infrastructure like the current substation project going on next to the Project Jackpot site has also been put into place. 

“They're bringing a lot of investment and jobs to our community and we need to be respectful of their decision not to announce yet,” Fiegenschuh said. “Is it frustrating that it's taking longer than expected to announce? Absolutely. But you're not in this for the short game. You play the long game. Having them here is going to be so good for our community. And if that means we have to wait an extra year for them to announce, so be it.”