From the Governor
“Upgrading our state’s infrastructure and supporting policies that enable research and innovation will allow Illinois to continue growing its manufacturing businesses.” —Gov. J.B. Pritzker
Big in Biotech
Despite its debt problems, Illinois’s economy continues to expand with biotech a bright spot in Chicago. Swiss drug maker Novartis entered a deal in April to acquire Chicago-based AveXis for $8.7 billion, and the state has seen more than $2 billion in other new investments in pharmaceuticals and life sciences in the past year.
Edge Tax Credit: Offers credits to companies that have another location option out of state and agree to invest at least $5 million and create 25 new jobs in Illinois.
Exemptions: Eliminates state tax on personal property. Property and payroll are also not apportioned to corporate income tax.
Enterprise Zone: Offers sales tax exemption on building materials and equipment, a utility tax exemption, investment tax credit and jobs tax credit for businesses operating in an established Enterprise Zone.
High Impact Business Benefits: Offers various incentives for companies that invest at least $12 million and create 500 or more full-time jobs.
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
- IAm Bank, which located its headquarters in Chicago in 2017, announced in April it would grow to 300 employees.
- Aspen Dental Management announced in March 2018 it will locate its new headquarters in Chicago and create 250 new jobs.
- Swiss drug maker Novartis entered a deal in April 2018 to acquire Chicago-based AveXis for $8.7 billion.
- Biopharmaceutical company CSL Behring announced in April 2018 a 1.8-million-square-foot expansion in Kankakee County.
- II-VI EpiWorks expanded its manufacturing facility in May 2018 to quadruple production of high-performance compound semiconductor materials.
- Organic meal service company Sun Basket opened an expansion of its distribution center in Valmeyer in May 2018.
- German company Faber-Castell announced in September 2018 it will open its first North American manufacturing facility in Elgin.
- German global healthcare company Fresenius Kabi broke ground in September 2018 on a $250 million facility in Melrose Park.
32 Fortune 500 companies are headquartered in the state, including:
Walgreens Boots Alliance
Archer Daniels Midland
United Continental Holdings
“Chicago is a wonderful city with a diverse culture…. Chicago provides us with a great opportunity to grow our business and find the best and most talented employees.” —Lee Travers, CEO, IAm Bank
“The strategic location in between the coasts, along with the exceptional workforce Illinois boasts, made it a natural choice for our next facility.” —Christina Zech, Managing Director, Faber-Castell Cosmetics
“The Montgomery facility is our fourth manufacturing facility in Illinois, and we look forward to starting pro- duction there this spring.” —Bob Buddig, CEO, Carl Buddig and Co.
“With support from Illinois, we expect to continue to invest in this Champaign facility by adding state-of- the-art manufacturing capacity, improving processes capabilities, broadening the product portfolio and recreating and developing a lot of talent to fill the anticipated growth in jobs and opportunities for career development.” —Dr. Chuck Mattera, President and CEO, II-VI Inc.