From the Governor
“Illinois workers are dedicated, educated and skilled and they’re the reason businesses around the world are proud to operate here…I’m deeply committed to ensuring that Illinoisans around the state especially those in disadvantaged communities can get good jobs in their communities, and to build on what works. Illinois’ future depends on a well-trained workforce.” —Gov. J.B. Pritzker
America’s Global Powerhouse
Home to 37 Fortune 500 company headquarters and one of the world’s financial capitals, Illinois remains one of the U.S. global powerhouses. While Chicago leads the way in financial services, tech and life sciences, many parts of the state are experiencing strong growth in advanced manufacturing and food processing. Salesforce, Ford and Accenture have all made big announcements here in the past year.
EDGE (Economic Development for a Growing Economy): Offers tax incentives to encourage companies to locate or expand operations when there is active consideration of a competing location in another state.
Enterprise Zone Program: Offers state and local tax incentives, regulatory relief and improved governmental services to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state.
Employer Training Investment Program: Offers grants to reimburse new or expanding companies for up to 50% of the cost of training their employees.
Research & Development Tax Credit: Offers a non-refundable tax credit of 6.5% of qualifying R&D expenses in the state that exceed the baseline amount of R&D expenses.
Manufacturing Machinery & Equipment: Offers a 6.25% state exemption against the purchase of consumable items used in the manufacturing process.
Illinois Department of Commerce and Economic Opportunity: illinois.gov/dceo
Illinois Economic Development Association: ileda.org
Intersect Illinois: intersectillinois.org
World Business Chicago: worldbusinesschicago.com
Highlighted Program or Initiative
Gov. Pritzker issued an executive order in January 2019 that directed state agencies to review industries for economic growth and determine how disenfranchised populations may be improved in communities across the state. Representatives of four state agencies identified three action areas and strategies including the use of regional cluster strategies, preparing Illinois workers for long-term careers and connecting job seekers with employers.
- Salesforce announced in November 2018 it will add 1,000 jobs and invest $175 million to expand its regional headquarters in Chicago.
- Ford announced in February 2019 a $1 billion upgrade and the addition of 500 jobs at two of its factories in Chicago.
- Vactor Manufacturing announced in February 2019 it will add 90 jobs at a $25 million expansion of its facility in Streator.
- Pepsi MidAmerica cut the ribbon in May 2019 on a $2 million expansion of its facility in Marion which created 50 jobs.
- Accenture announced in July 2019 it will add 600 high- skilled jobs at its Chicago office by 2022.
37 Fortune 500 companies headquartered in the state, including:
State Farm Insurance
Archer Daniels Midland
Discover Financial Services
“This is another significant investment in our Streator facility, as we look to add the necessary capacity in response to that growth potential. It also is a testament to the talented and educated workforce that we are fortunate to have in the Streator area.” —Jennifer Sherman, President and CEO, Federal Signal
“Chicago is the Midwest’s largest city with a global and economic force that attracts a wealth of talent and international business…Salesforce is committed to continued growth in the region and supporting our thousands of Chicago-based customers and partners as they transform their businesses and connect with customers in new ways.” —Tyler Prince, Executive Vice President of Indus- tries & Partners, Salesforce
“Illinois was the right fit for this expansion due to the unrivaled workforce and strategic location…We are proud of our contributions to Illinois’ manufacturing legacy, and this next phase in our journey will only build upon our current successes within the North American market.” —Jon DeSouza, President and CEO, HARTING North America