Kia Motors to Open New Location in Berwyn, IL

BERWYN, Ill., Nov. 12, 2010 /PRNewswire/ -- The Berwyn Development Corporation (BDC) and City of Berwyn are pleased announce that Kia Motors will be opening a new dealership at 7050 West Ogden Avenue in Berwyn, Illinois.

"In order to enhance the City's sales-tax base, we identified Kia as a strong company that was not present in the trade area," said Anthony Griffin, Executive Director of the BDC. "After much effort by the City, we achieved a green light from Kia's corporate office that led to our introduction to ownership at Willowbrook Ford-Kia."

Al Meyer, President of Willowbrook Ford-Kia, said, "When Kia corporate and the BDC approached us, we realized that we were presented with a potentially good business opportunity along with forming a great relationship with a city that rolls up its sleeves to achieve progress."

Kia will purchase and remodel the south side of the former Phelan Dodge dealership. With a newly revamped line of automobiles, Kia hopes to increase its US market share by almost 40% in the coming years. A revenue forecast indicates that the new venture would be Berwyn's highest sales tax generator, would create permanent jobs, and would attract additional consumers to Berwyn.  The total project budget is estimated at $2,456,100 to bring the new car dealership online.  Berwyn's Ogden Avenue Tax Increment Financing (TIF) district will provide gap financing while the majority of the transaction's funding will come from private investment.

When asked what the Kia news meant to Berwyn, Mayor Robert Lovero said, "By bringing a new car dealership into the City, we are able to diversify our tax base and strengthen our local economy." Mayor Lovero added, "Considering what the auto industry has gone through globally in the last several years, obtaining a new car dealer was quite a coup and provides a tremendous boost to our historic Route 66 corridor."

Additional information on the Kia Motors transaction can be obtained through the Berwyn Development Corporation at (708) 788-8100 and www.berwyn.net.

The BERWYN DEVELOPMENT CORPORATION (BDC) is a public-private partnership with the City of Berwyn that provides economic development and Chamber of Commerce services to all segments of the Berwyn community. The BDC is a not-for-profit membership organization that serves over 300 business and individual members. The BDC focuses its efforts on those activities that will improve the overall climate for local businesses and residents, in addition to encouraging the development of new commercial venues and employment opportunities. The BDC continually strives to develop new programs, services and events that promote Berwyn businesses and the community.

SOURCE Berwyn Development Corporation