ROCKFORD, Ill. (AP) — Five northern Illinois banks are working together to extend a $17 million line of credit so the airport in Rockford can complete an airplane repair hanger on time next fall.
The Rockford Register Star reports that the five banks signed a collaboration agreement on Wednesday during a news conference at the Chicago Rockford International Airport.
The jet repair hub is expected to cost $41 million and generate up to 1,000 jobs.
The airport’s executive director, Mike Dunn, said in a news release that it’s inspiring to know people in the area understand the economic impact of the facility.
The banks are Alpine Bank, Rockford Bank & Trust, Blackhawk Bank, Northwest Bank and Byron Bank.
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