Growth of Manufacturing in Illinois
January 6, 2015
In this article, Daniel Goff, of the Illinois Department of Commerce and Economic Opportunity, addresses some of the reasons that many global companies are opening new production, distribution, and sales offices in Illinois. Illinois is the largest exporting state in the midwest, and fifth largest in the nation. Many business incentives are in place, including reasonable tax rates, no tax on manufacturing equipment purchases, and additional breaks based on size and scope of the business in question. In addition, Illinois is a transportation hub with strong utilities, established customers, and educational systems in place to provide an educated work force. The Department of Commerce and Economic Opportunity, as well as other midwest business leaders, meet yearly with organizations from Japan to expand growth opportunities and economic relations. Plans are in place to establish a similar trade program with African economies.
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