Business

Business

UI receives federal grant for carbon dioxide study

CHAMPAIGN (AP) – The University of Illinois is getting a roughly $900,000 grant to study the possible environmental impact of storing the chief man-made greenhouse gas under water reservoirs.

The EPA grant covers what could be a three-year research project involving subsurface storage called sequestration.

Danville teachers' contract talks may soon begin anew

DANVILLE – Though Danville teachers and other school staff finally have a new 1-year contract, board members said it won't be long before the two sides will have to start working on a new agreement, and they would like to see representatives come together soon to start talking about issues.

Central Illinois Bank parent reports big 3rd-quarter loss

CHAMPAIGN – The parent company of Central Illinois Bank reported a net loss of $13.9 million in the third quarter, resulting in a $30 million net loss for the first nine months of 2009.

Since the quarter ended Sept. 30, CIB Marine Bancshares has received approval from bankruptcy court for a prepackaged plan of reorganization.

Gibson City a finalist for company's 'green' plant

GIBSON CITY – The "green" business that has picked Gibson City as one of two finalists for a factory site is Eco Manufacturing of Cambridge, Mass.

Garrett Gates, vice-president of business development for Eco Manufacturing, said this week that the potential site of a plant would be on Gibson City's west side, along Illinois 9 and just south of Jordan Industrial Park. Eco Manufacturing has been looking at various sites for about two years and at Gibson City for one year. A Tennessee site is also "still in the running," Gates said.

Bytemobile hopes to expand Champaign office in 2010

CHAMPAIGN – A company that helps mobile networks operate faster and more efficiently hopes to add more people to its Champaign office next year.

Bytemobile, which has 12 full-time employees in the University of Illinois Research Park, plans to hire three more early next year, said Constantine Polychronopoulos, the company's founder and chief technology officer.

Champaign library gets award from architectural group

CHAMPAIGN – The Champaign Public Library received a 2009 design excellence award from the Chicago chapter of the American Institute of Architects.

A jury of architects gave the library an honor award, in the interior architecture category.

Blind Pig Brewery rolls out in-house beers

CHAMPAIGN – It's alive.

Starting today at 3 p.m., you can belly up to a bar in downtown Champaign and order a freshly brewed beer made on-site, marking the first time in over a decade that beer has been brewed commercially in Champaign-Urbana.

Gift only covers 25% of Virginia's renovation project

CHAMPAIGN – Even with Michael Carragher's $1 million gift to the Virginia Theatre restoration fund, the Champaign Parks Foundation estimates it will need $3 million more to complete the entire renovation project.

Mr. Carragher's gift will be spent mainly to remodel the front lobby and concession area. The bids for that work will be let after the first of the year, and the work will begin in mid-June and last through October.

Project's employment numbers not as big as projected

CHAMPAIGN – Was it all "pie in the sky?"

When the University of Illinois Research Park was proposed a decade ago, supporters talked of the park's potential to have 5,000 employees within a decade, or even five years.

Research Park growing, but UI tenants help fill the space

CHAMPAIGN – At the University of Illinois Research Park, State Farm Insurance runs a consumer research center, Caterpillar operates a simulation center and Archer Daniels Midland has a mathematical modeling center.

Over the years, park tenants have come to include large companies with satellite research operations or local startup companies like R Systems, which built a supercomputer in the park.