www.illinois.gov

Pat Quinn, Governor

State Links Skip to Content Skip to State Links

 Government
 Business
 Employment
 Education
 Health & Safety
 Family & Home
 Visiting
 About Illinois
 Illinois.gov

Stay Informed

Your Government


Illinois Flag Honors

Inspector General


 IGNN: State/All Press Release

ILLINOIS NEWS
The State of Illinois News page provides access to the Illinois Government News Network and all state press releases.


FOR IMMEDIATE RELEASE
April 13, 2011

Governor Quinn Announces Investment to Boost State’s Manufacturing Industry, Keep Hundreds of Jobs in Illinois
State Investment Package to Help Retain Over 300 Jobs at A. Finkl & Sons

CHICAGO – April 12, 2011. Governor Pat Quinn today announced a $10.3 million business investment package to help Chicago-based steel manufacturer A. Finkl & Sons Co. expand its operations. The state’s investment will leverage about $150 million in private investment and help keep more 300 jobs in Illinois.

“If we want to remain competitive in today’s global economy, we must continue to invest in areas like manufacturing,” said Governor Quinn. “We’re helping to keep good-paying, sustainable jobs right here in Illinois, boosting our manufacturing industry and improving our economic competitiveness.”

A. Finkl & Sons, the world’s leading manufacturer of specialty steel alloys, will construct a new $150-million manufacturing campus on Chicago’s south side. After more than a century on Chicago’s north side, Finkl has been working with state and city officials to relocate to a larger facility that would allow the company to expand production and increase its product lines to serve a growing global marketplace. The company plans to redevelop the 44-acre former Verson Steel plant that has been vacant for many years. The plant will serve as the company’s North American headquarters. Finkl considered other locations for expansion, but ultimately opted to remain in Chicago rather than move out of state or to Quebec, Canada.

"Illinois is a competitive place to do business, and Finkl’s decision to stay in the state is a huge positive for our economy and for job growth and investment,” said Warren Ribley, director of the Illinois Department of Commerce and Economic Opportunity. “By supporting the Finkl project, we are helping to ensure businesses can remain and thrive.”

DCEO is administering the state’s $10.3 million business investment package. The package consists of Economic Development for a Growing Economy (EDGE) tax credits and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of the company’s workforce. In addition to support from the state, Chicago’s Community Development Commission approved $20 million of support through the Burnside Tax Increment Financing (TIF) district.

Illinois continues to see strong signs of economic growth and recovery. Since January 2010 when Illinois employment resumed after the national recession, the state has added 85,100 new net jobs, including nearly 10,000 manufacturing jobs. February marked the 13th straight month of declining unemployment. Illinois ranks first in the Midwest for exports and foreign direct investment.



###

News Categories

 State/All
 Governor's Office
 Lt. Governor's Office
 Agriculture
 Budget/Fiscal
 Business
 Children/Families
 Culture
 Disabilities
 Economic Development
 Education
 Environment
 Flag Honors
 Health/Human Services
 History
 Infrastructure
 Opportunity Returns
 Recovery
 Safety/Security
 Technology
 Tourism/Recreation
 Transportation
 Workforce/Jobs

News Resources

 Search the News
 IIS Radio News
 RSS News Feeds
 e-News Subscriptions
 Communications Office
 Privacy Statement

Features

Sign up for an e-news subscription
Copyright © 2014 State of Illinois Site Map | Illinois Privacy Info | Kids Privacy | Web Accessibility | Contact Us