URBANA – A decision is "imminent" on whether a new chemical-processing plant employing 205 will come to Champaign County, according to John Dimit, chief executive officer of the Champaign County Economic Development Corp.

The county has been among finalists for the plant, which is expected to involve a $250 million investment. Representatives of the company, which has not been publicly identified, have made several visits to Champaign-Urbana.

Dimit told the economic development group's board Thursday that the project "is in a holding pattern ... we're waiting."

In other business

Retention program under way. Dimit said the economic development corporation has been working with Busey Bank and Surface 51 on efforts to retain local business, including the corporate headquarters for the Jimmy John's sandwich chain.

Though the early phase of the effort is being put together with Jimmy John's in mind, it could be adapted for other major businesses with local headquarters, such as Flex-N-Gate, Hobbico and Human Kinetics, he said.

Angel network growing. The Urbana-Champaign Angel Network has attracted more investors and plans another presentation for investors March 30, Dimit said.

Ten companies have applied to make presentations that day, and five will be selected, said Tim Hoerr, chair of the angel network.

The network provides a vehicle for prospective investors to hear from area companies seeking capital for further growth.

New office site chosen. The economic development group's office will move downstairs at Illini Plaza, 1817 S. Neil St., C, possibly before the expiration of its lease June 30.

For 15 years, the group has shared second-story space with the Champaign County Chamber of Commerce and the Champaign County Convention & Visitors Bureau, but the three groups are relocating.

The economic development group will occupy 3,200 square feet on the first floor, in space once occupied by the Clark Dietz engineering firm.

Advocacy trip discussed. Recounting Champaign County First's recent trip to Washington, Dimit said federal representatives were told by the advocacy group that the state has yet to release $500 million for energy-efficiency projects in downstate Illinois schools.

The representatives "had no idea" the money hadn't been released, and their knowledge of it could bring about action, he said.

Dimit said the advocacy group got "reasonable support" from the Federal Railroad Administration not to block a proposed 220-mph Chicago-to-St. Louis rail project that would run through Champaign if the state decides to move forward with it.

That was a distinct difference from last year, when federal officials were negative about the idea, he said.

Don Dodson