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The Illinois unemployment rate was 4.7 percent in July, falling
lower than the national rate, which is 4.8 percent, for the second
consecutive month. This is the first time this has happened in more
than seven years. The Chicago area also reported its lowest
unemployment rate for July since 1998. These statistics were
compiled by the federal Bureau of Labor Statistics and the Illinois
Department of Employment Security. The Bureau of Labor Statistics
has posted its July data at http://www.bls.gov/news.release/pdf/laus.pdf
Since January 2004, Illinois has gained 144,300 new jobs, which
is almost 60,000 more new jobs than the next highest Midwest state.
Over the last few months, Illinois has seen a number of companies
commit to adding more new jobs across the state, including Schneider
National in Edwardsville, UPM Raflatac in Dixon, Triumph Foods in
East Moline and Equinix in Elk Grove Village. United Airlines, which
employs almost 16,000 people in the state, recently announced it is
keeping its corporate headquarters in Illinois. Site Selection
Magazine named the Chicago area the top metro region in 2005 for
attracting new and expanded corporate facilities. Illinois was
ranked third in the nation in this category.
"By bringing in new companies, making strategic investments to
help small businesses grow and taking innovative steps to open new
markets, Illinois is offering more people better jobs," Blagojevich
said. "Creating more new jobs again than any other state last month
is a clear indication that our approach is working. By not raising
income or sales taxes and by investing more in our schools, health
care and our communities, we've made Illinois an even better place
to work in and live in. This is good for both our businesses and our
families."
The Illinois Department of Commerce and Economic Opportunity has
recently provided business investment packages to several companies
across the state. They will be creating even more new jobs,
including 440 jobs at Schneider National in Edwardsville, up to 160
jobs at UPM Raflatac in Dixon, 1,000 jobs at Triumph Foods in East
Moline and 30 jobs at Equinix in Elk Grove Village.
One of the most important ways the governor has been expanding
the Illinois economy and creating more good jobs is by encouraging
entrepreneurship. On Thursday, the governor announced almost $1
million in new funding to support three of the Chicago area
entrepreneurship centers that he helped launched over the last 3 1/2
years through the Illinois Entrepreneurship Network. The centers act
as regional hubs that coordinate all small-business development,
entrepreneurship and technology training activity, providing
entrepreneurs with the tools they need to make their ventures
successful.
The Chicago West Side Entrepreneurship Center at Chicago
Community Ventures was established in July 2003 and has served more
than 900 clients to date and awarded almost $310,000 to 57
companies. The Chicagoland Entrepreneurial Center at the Chicagoland
Chamber of Commerce was established in July 2004 and has served more
than 250 clients to date and awarded $290,000 to 54 companies. The
Illinois Hispanic Entrepreneurship Center at the Illinois Hispanic
Chamber of Commerce was established in June 2005 and has served more
than 45 clients and provided $100,000 to 19 companies to date.
Blagojevich made the announcement Thursday at Kim & Scott's
Gourmet Pretzels Inc. on Chicago's West Side. The 60-employee
company is a growing, high-end producer of pretzels marketed and
sold as both snacks and meal replacement. The company has worked
closely with the Chicagoland Entrepreneurial Center on expanding its
retail strategy and manufacturing capabilities. It has created 10 to
15 new jobs in the past year and expects to create almost 20 new
jobs over the next year.
Over the past 3 1/2 years, Blagojevich has invested more than $47
million through the Illinois Entrepreneurship Network to help small
companies generate almost $2.2 billion in government contracts and
international sales and secure almost $429 million in financing. The
network has provided counseling and training to more than 152,000
clients across the state.
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 "There is no doubt that our economy is in much better shape today
than it was a couple of years ago," said state Sen. Rickey Hendon,
D-Chicago. "The reason why companies are expanding and putting more
people to work is because Governor Blagojevich has created a
business climate that is encouraging investment and innovation."
"In order for us to compete on the global stage, we must
encourage our entrepreneurs and provide the resources necessary to
help them create better companies and better jobs," said state Rep.
Annazette Collins, D-Chicago. "Governor Blagojevich has consistently
done that, which is why Illinois' economy is moving in the right
direction."
Through the Illinois Entrepreneurship Network, Blagojevich is
providing, for the first time, a formalized structure for
coordinating services to small businesses and entrepreneurs
throughout the state. Further, the Department of Commerce and
Economic Opportunity has a truly statewide network, where the
resources in one area, such as venture capital in the Chicago area,
can be coordinated to the benefit of network partners throughout the
state.
The Illinois Entrepreneurship Network is made up of the following
partners: 18 Entrepreneurship Centers, Small Business Development
Centers, Procurement Technical Assistance Centers, International
Trade Centers and other partners. The network's website,
www.ienconnect.com, features
a free business needs assessment and a referral within 24 hours for
personalized, face-to-face assistance. Entrepreneurs who
call toll-free to the network's information center, 1-800-252-2923,
can also connect with service representatives who will assess their
business concerns and direct them to the local resources that best
meets their needs.
"Small businesses are the backbone of Illinois' economy, and
Governor Blagojevich has been making the investments that are
supporting our emerging entrepreneurs so they can turn promising
ideas into promising companies and create good, new jobs," said Jack
Lavin, director of the Department of Commerce and Economic
Opportunity.
Many other economic indicators illustrate that the Illinois
economy is expanding:
In 2005, travel to Illinois directly accounted for more
than 300,000 Illinois jobs, including more than 400 new jobs in
2005, which generated nearly $7.9 billion in payroll. Economic
impact generated by travel spending in 2005 in Illinois grew to a
record $26.2 billion, an increase of 6.8 percent, generating $1.84
billion in state and local tax revenue, according to the Travel
Industry Association of America. This added an additional $74.2
million in state and local taxes in 2005.
Illinois' annual export figures showed significant growth in
2005, marking the third consecutive year of increased exports and
the greatest one-year increase in more than 10 years. Illinois
companies exported a record $35.8 billion in 2005, up 18.7 percent
from the previous year according to the World Institute for
Strategic Economic Research, which compiles its data from the U.S.
Census Bureau, Foreign Trade Division. Illinois' total exports for
2005 represented a $5.6 billion increase from 2004, one of the
largest increases by any state and the largest percent increase
among the states in the top eight.
Business Facilities Magazine ranked Illinois the top state in the
nation for biotechnology growth in 2005. Illinois is already home to
nearly 60,000 employees at more than 1,100 biotech firms.
Blagojevich has helped leading biotech companies move to or grow in
Illinois. He has partnered with Astellas Pharma, Hospira and Takeda
Pharmaceuticals to expand or relocate their corporate headquarters,
which is expected to create and retain more than 1,300 jobs.
[News release] |
