Bloomington, Ind. – Cook Group and the City of Bloomington today agreed to enter into an “Agreement in Lieu of Annexation.” In exchange of the City agreeing not to annex Cook properties located outside of city limits, Cook agrees to pay a minimum of $100,000 per year for 15 years. This agreement extends a relationship with the City that has been in place for more than 30 years and is pending final approval by the City of Bloomington Common Council.
“We’re happy to have reached an agreement with Mayor Hamilton and the City of Bloomington in lieuof annexation of our facilities located outside of city limits, including our upcoming purchase of the old GE facility,” said Pete Yonkman, president of Cook Group and Cook Medical. “We believe this is a positive step for Cook and the City. We’re happy to continue our investment in Bloomington.”
The City entered into Agreements in Lieu of Annexation in the past with a group of local industries, including Cook in 1979. The agreement was modified in 1987, 2002, and 1997. The 1997 Agreement in Lieu of Annexation eventually expired in December 2012.
“This is similar to agreements we have had in the past with the City dating back to 1979,” said Steve Ferguson, chairman of the board of Cook Group. “The stability and certainty that comes along with the in lieu of annexation agreement allows us to invest in large manufacturing facilities that have unique needs.”
About Cook Group
Cook Group is a family-owned company with headquarters in Bloomington, Indiana. Our diverse business portfolio includes companies working in life sciences, business services, resorts, property management, and medical devices.
Founded in 1963, Cook Group companies today employ more than 12,000 people around the world. We are committed to improving lives by giving back to our communities, supporting our employees and their families, and serving our customers and their patients. Learn more at www.CookGroup.com.