RILCO, Inc. – an oil lubricant distributor and industrial services company – is making plans to relocate its corporate headquarters from Moline to Eldridge.
The Eldridge move will bring about 81 jobs to the area. The Iowa Economic Development Authority (IEDA) has approved a $135,000 tax credit for RILCO to support this relocation project.
“The investments announced today are a testament that Iowa is a place of opportunity and economic vitality,” Gov. Kim Reynolds said in a new release on Friday, July 21, announcing the IEDA tax credit. “From being recognized as the nation’s most fiscally responsible state to the historic tax reform passed by our legislature, we have built a strong foundation where businesses in Iowa can thrive and prosper. I welcome RILCO to the state.”
RILCO specializes in the distribution of lubricants and also manufactures its own brand of lubricants, antifreeze, and greases under the names Tec-Guard and Tec-Kool. The relocation will involve moving the office, administrative and sales teams, as well as production operations, manufacturing, and logistics. Its products are sold and distributed to industrial, agricultural, construction and retail customers.
The project presented to the IEDA includes an expansion of the existing building at 400 S. 14th Ave., Eldridge, totaling 58,000 square feet. It also will involve significant improvements to the warehouse and office space, as well as the addition of new machinery, tank farms, equipment, and furniture.
The Eldridge site was purchased by GRT Eldridge Property, LLC, for $12 million in December 2022, according to a report at EnergyPortal.eu.
That property is the former home to the RR Donnelley plant.
“The City of Eldridge is looking forward to being the new home to RILCO headquarters. RILCO, Inc. has a long history in the Quad Cities region, so we are thankful that we were able to meet the needs of their relocation and expansion project to keep them in the Quad Cities, and to bring new jobs to our community. We are excited for this opportunity to spark revitalization in our industrial park and encourage future growth and investment in the area,” said Nevada Lemke, city administrator for Eldridge, in an emailed statement to the QCBJ.
In RILCO’s application to the IEDA, the company said the office and warehouse improvements are expected to be completed by January 2024. The warehouse expansion is scheduled to be finished by July 2024.
RILCO’s corporate headquarters now are at 3501 69th Ave., Moline. It also operates a packaging facility at 2929 Fifth Ave., Rock Island. It also has facilities in the Illinois cities of Elk Grove, Peoria and Romeoville, as well as Pella, Iowa, according to the company’s website.
Also, the RILCO Safety Supply store opened last fall at 2611 State St., Bettendorf.
In addition to RILCO, another company, M.H. Eby, Inc., also awarded tax incentives last week by the IEDA. M.H. Eby, Inc. is a manufacturer of aluminum truck bodies and livestock haulers. The company plans to expand its facility in Story City, Iowa, by 100,000 square feet, creating 120 new jobs, IEDA announced.
