Navistar’s $205 Million Investment will Spur Economic Growth Across Northeast Illinois
LISLE — Gov. Pat Quinn today announced that Navistar International Corporation will keep its headquarters in Illinois and is moving forward with its plans to expand its Illinois operations, which will create and retain 3,000 permanent jobs and 400 construction jobs over the next several years.
Gov. Quinn proposed, helped to pass and signed legislation into law in June to expand the Economic Development for a Growing Economy (EDGE) tax credit that specifically benefits Navistar, which was the company’s determining factor to stay in Illinois.
“Navistar knows that there is no better place to expand its operations than Illinois, and we tailored a targeted investment package to meet the company’s needs and keep thousands of people working,” said Governor Quinn. “By being innovative and aggressive, we’re seeing significant investment in Illinois, which is creating more jobs and moving our economic recovery forward.”
Navistar’s $205 million investment will help the truck and diesel engine manufacturer relocate its headquarters from Warrenville to Lisle and assist with upgrades to an existing manufacturing and research and development facility. In addition, Navistar will make a significant investment to relocate its parts distribution center, currently located in West Chicago, to Joliet.
The announcement comes following the company’s decision to terminate its initial plans to open a new headquarters in Lisle after meeting local opposition. Governor Quinn and Attorney General Lisa Madigan immediately stepped in to help resolve those issues, and the reconfigured project is now moving forward.
“At Navistar, we like to say that we always want to stand up and stand tall for what we believe, we’re here today because Gov. Quinn did just that,” said Navistar Chairman, President and CEO Dan Ustian. “He stood up for good paying jobs, for economic development and for Lisle and Navistar. We are grateful to his administration and to Attorney General Lisa Madigan for her leadership.”
The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the state’s $64.7 million business investment package. The package includes EDGE tax credits and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of Navistar’s workforce.
The enhanced EDGE tax credit enables companies in the auto manufacturing industry, which is among Illinois’ largest employers, to retain employee income tax withholdings as an alternative to the current EDGE corporate tax credit and reinvest those funds into operations that create more jobs.
“We’re giving companies like Navistar the tools they need to increase their competitiveness and keep this economy moving forward,” said DCEO Director Warren Ribley. “This project is a great example of how Illinois is nurturing an environment where companies can grow and thrive.”
Illinois’ manufacturing sector has added more than 12,000 jobs in 2010, which is a higher growth rate than the national average. In total, Illinois has added more than 43,000 jobs this year.
Great work! This is the type of information that should be shared around the web. Shame on Google for not positioning this post higher! Come on over and visit my site . Thanks =)
It’s the best time to make some plans for the future and it is time to be happy. I have read this post and if I could I wish to suggest you some interesting things or tips. Perhaps you could write next articles referring to this article. I desire to read more things about it!
I needed to put you the little bit of observation to be able to thank you the moment again considering the superb solutions you have contributed in this article. This has been open-handed with people like you to deliver freely what exactly a number of people would have distributed as an e-book to get some profit for themselves, precisely considering that you might have tried it if you ever wanted. The things additionally worked as the fantastic way to be certain that most people have the same fervor just like my own to know the truth more and more when considering this problem. I believe there are some more pleasurable sessions ahead for people who discover your site.
I think other site proprietors should take this web site as an model, very clean and magnificent user genial style and design, let alone the content. You are an expert in this topic!
Just desire to say your article is as surprising. The clearness in your post is simply cool and i can assume you are an expert on this subject. Fine with your permission let me to grab your feed to keep up to date with forthcoming post. Thanks a million and please continue the enjoyable work.
Here is one person’s view. I agree on being careful about revealing personal stuff (especially about other people), but I found that I get lots of comments on those rare occasions when I post a picture of a cat, so……
Excellent blog , I’ve begin this insightful. A lot of accessible advice in it. I’m in fact because the advice on overweight. Associated with approved demography lipobind advised for abrasion out fat ingestion? In any added case, do analysis it out for. It’s able in my opinion. I’ve larboard a hotlink to. Thanks.
Hello.I am well into a boring sunday thanks for giving something to think about.This is a great story got me thinking,Thanks!.
I really enjoyed this blog. It is always nice when you read something that is not only informative but entertaining. Awesome!
Strong blog. I acquired lots of great data. We?ng already been keeping track of this technology with regard to awhile. It?utes interesting how it retains varying, however some of the primary elements remain the same. Have you seen a lot alter because Search engines created their own most recent acquisition within the field?
I’d come to comply with you on this. Which is not something I typically do! I enjoy reading a post that will make people think. Also, thanks for allowing me to comment!
Nice page! I really like your weblog, would it be ok to use it for feed purposes?
By far the most concise and up to date information I found on this topic. Sure glad that I navigated to your page by accident. I’ll be subscribing to your feed so that I can get the latest updates. Appreciate all the information here
Intriguing suggestions in this post but have you been witnessing the same problems that IE 6 displays in your blog theme?
Nice optimizer. Up!