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♦. <br />South Bend Redevelopment Commission <br />Regular Meeting - July 18, 1997 <br />6. NEW BUSINESS (CONT.) <br />a. continued.... <br />He also stated that the building will have <br />precast walls with a flat roof, and will be <br />very nicely landscaped. <br />The equipment, which is the bulk of the <br />investment, will be installed over a period <br />of five (5) years. In the first year, Bowne <br />Printing expects to spend approximately <br />$4 - $5 million on basic equipment. In <br />the second year, approximately $1 <br />million. In the third year, approximately <br />$1 million. In the fourth year, <br />approximately $4 million. And, in the <br />fifth year, they expect to spend another $1 <br />million on equipment. <br />Mr. Christensen stated that the printing <br />business is a very good and profitable <br />business. He stated that they expect to <br />start hiring individuals in the first quarter <br />of 1998. They will bring in individuals <br />from all over the country. They plan to <br />do a lot of local hiring and training. Mr. <br />Christensen stated that the reason Bowne <br />Printing Company chose South Bend to <br />construct one of their facilities is because <br />South Bend is close to their market. He <br />also stated that South Bend has great <br />transportation including good truck <br />transportation to the East and West <br />Coasts. <br />Mr. Faccenda asked Mr. Christensen <br />when he stated that the work comes from <br />Chicago and New York, did he mean that <br />the work is generated in those two <br />H:\ HOME\CPHrPPS\WPDATA\CONMSN\071897.MfN -6- <br />