RILCO relocating headquarters from Rock Island to Eldridge
By Daniel Kim
RILCO, Inc. will relocate its headquarters from Rock Island to Eldridge after being awarded an economic development incentive package that includes $135,000 in tax credit benefits. The move was announced Friday at the Iowa Economic Development Authority board meeting.
The benefits from the IEDA were part of the High Quality Jobs program. RILCO will receive the benefits when contract obligations have been met. An estimated 81 jobs are expected to be created and more than $10 million total capital invested.
The project involves “a 58,000-square-foot expansion and improvement to an available building in the Iowa community.” The North Scott Press reported in May that RILCO was “eyeing the old Bawden print factory in Eldridge to consolidate three Quad-City regional sites.”
“We have built a strong foundation where businesses in Iowa can thrive and prosper,” Iowa Governor Kim Reynolds said in a news release. “I welcome RILCO to the state, congratulate [them] for their significant expansion plans and wish them continued success as they work to broaden and diversify Iowa’s robust manufacturing sector.”
RILCO is a large lubricant distributor and industrial service provider and has also developed its own brands of lubricants, antifreeze and greases under the Tec-Guard and Tec-Kool brands. Its products are sold and distributed to industrial, agricultural, construction and retail customers. The company also has a distribution center in Pella, Iowa.
