Joliet, IL - Governor Quinn recently signed a law creating a second Technology Development Account in the State treasurer’s portfolio. The law allows the treasurer to invest up to 2% of the money he manages for the State into high-tech, venture-capital-funded Illinois businesses.

"When the State of Illinois invests its money, it should focus on Illinois businesses," said State Senator AJ Wilhelmi (D-Joliet), a co-sponsor of the bill. "Investing in up-and-coming Illinois technology companies will support our local economy and create good, middle-class jobs."

Joliet, IL - The morning of Monday, July 11, the Illinois Supreme Court ruled that the 10-year, $31 billion Capital Construction Program (sometimes referred to as Illinois Jobs Now!) does not violate the Illinois Constitution. The construction program is expected to put tens of thousands of people to work each year to repair and improve Illinois' roads, bridges, schools, and public facilities.

Springfield, IL – State Senator Ed Maloney (D-Chicago) believes that the Illinois General Assembly had a productive day in Springfield during summer session. They reauthorized spending on the State’s capital construction plan, passed an election law reform bill, cut their own pay, and dealt with several other lingering issues.

Because the legislators returned on their own and not in response to a call from the governor, the cost of Wednesday’s session was minimal, and legislators did not receive per diem payments to pay for travel and lodging.

SPRINGFIELD – State Senator Dave Koehler (D-Peoria) was relieved that the General Assembly voted to allow the State’s capital construction program to go forward as planned. The program’s funding was in peril due to the budget negotiations process.

"The capital construction program is vitally important to our state economy," Koehler said. "It creates thousands and thousands of good-paying jobs during the summer construction season. Last year, those jobs helped Illinois recover the economy. This year, they will help us keep moving forward."

SPRINGFIELD, IL – Illinois State Senator Mattie Hunter (D–Chicago) passed legislation through the Senate today creating the Small Business Contract Act, which will award ten percent of State contracts to small businesses.

"Small businesses are the backbone of our economy and we need to support them every way possible," Hunter said. "This measure will guarantee that small businesses are not overlooked when it comes to awarding State contracts."

For some time, pundits, partisans and talking heads have repeatedly predicted decades of doom and gloom for Illinois’ economy and the ability for working families to get ahead.  The negative rhetoric often overlooks some of the hard facts regarding the state’s attractiveness and amenities.  But, MoneyRates.com just ranked Illinois at the nation’s top state for making a living.  The number one slot serves to debunk some of the tired, old talking points that many Illinoisans are growing weary of.

Springfield, IL – Illinois Senate Assistant Majority Leader Kimberly A. Lightford (D-Maywood) released the following statement today regarding legislation that will increase the state’s minimum wage:

“From my first day in the Senate, I’ve fought for minimum wage earners. It’s an issue that remains near and dear to my heart and agenda. There has rightfully been a lot of discussion lately about how to improve the state’s business climate. But as we go forward, I want to make sure that minimum wage workers aren’t ignored and forgotten. Their issues and rights need to be part of the discussion. Senate Bill 1565 will help to keep this important issue on the table as the General Assembly works to keep Illinois competitive and fair for business and workers. I look forward to working with all parties on a comprehensive effort.”

Chicago, IL - Illinois’ aggressive agenda to create and retain jobs across the state continues with Governor Pat Quinn signing into law two bills to expand the availability of low cost financing for economic development projects. Both bills focus on the Illinois Finance Authority’s role in supporting businesses that seek to upgrade or expand in our state.

Public Act 96-1021 makes Illinois more competitive with neighboring states by allowing IFA to finance large non-profits—such as healthcare institutions, private education and cultural institutions—with development projects that include out-of-state locations as well as those within Illinois. This allows major non-profit organizations to locate their headquarters in Illinois and expand throughout our region.

This is becoming an increasingly pressing issue for many of the Authority’s borrowers, particularly in the healthcare sector, where multistate expansion is the trend.