Governor Announces Expansion of Molex Corporate Headquarters; New Bolingbrook Facility
FOR IMMEDIATE RELEASE
September 6, 2000
LISLE -- Governor George H. Ryan today announced that Molex Incorporated is expanding its Lisle headquarters along the I-88 high-tech corridor, while at the same time developing a new manufacturing facility in Bolingbrook. The combined projects will result in several hundred new jobs over the next three years.
"We applaud Molex for its decision to make this substantial investment in Illinois," said Ryan. "We've been talking about how Illinois is a great place for technology companies to locate and expand, but it takes the commitment of a company the caliber of Molex to prove that we are at the center of the New Economy."
Molex is making a capital investment of approximately $45 million over three years and will receive support from the State through a number of programs administered by the Illinois Department of Commerce and Community Affairs (DCCA). The company will be eligible for tax credits through the Economic Development Through a Growing Economy (EDGE) program and will receive a High Impact Business designation for both facilities.
DCCA will also assist with site improvements through the Large Business Development Program (LBDP) and training funds will be provided through the
Industrial Training Program (ITP).
"This announcement is further evidence that the economic development strategy Governor Ryan has put into place is having a tremendous impact on Illinois," said DCCA Director Pam McDonough. "With the various programs the State now has at its disposal, we are able to meet the workforce and infrastructure demands of a globally connected company like Molex."
Molex was founded in Brookfield, Illinois in 1938 and has grown to be the world's second-largest manufacturer of electronic, electrical and fiber optic interconnection products and systems, operating 52 facilities in 19 countries and employing approximately 17,650 people. In its fiscal year ended June 30, 2000 it had revenues of $2.22 billion
"Last year Molex, at 29.5% grew nearly four times the rate of the connector industry as a whole," said J. Joseph King, President and Chief Operating Officer of Molex Incorporated. "We need the additional space in Lisle for product design and development since new products account for more than 30% of our growth. The quality of the technical schools in the area, combined with an outstanding labor force and support from the State of Illinois, make this a good place to expand our technological base."
"I would like to congratulate Molex for its expansion," said Lisle Mayor Ronald Ghilardi. "I am cognizant of the impact Molex has had in the Village and the benefit the company provides for a number of taxing bodies as a result of being a corporate resident. Through the years we have enjoyed Molex's presence
and its outstanding employees, and we are looking forward to the company's continued interest in expanding their buildings in the Village. We would also like to thank Governor Ryan and the Department of Commerce and Community Affairs
for cooperating with Molex in their expansion and build-out plans."
"We are thrilled that Molex selected us for their new manufacturing facility," said Bolingbrook Mayor Roger Claar. "The multi-million dollar investment in Bolingbrook will not only help educate our children but is a tremendous boost for our economy as well as Will County's. In addition to our attractive business parks, I believe the highly skilled workforce of Will County helped make this decision."
The expansion to Molex's headquarters in Lisle is approximately 72,000 square feet and the Bolingbrook facility, which will be dedicated to fiber optics production, is 97,000 square feet.