Economic development continues to be a top priority for Illinois under Gov. J.B. Pritzker. Over the last few years, the state updated its flagship Economic Development for a Growing Economy (EDGE) tax incentive and created the Reimagining Energy and Vehicles (REV) and Manufacturing Illinois Chips for a Real Opportunity (MICRO) tax incentives. Most recently, the state’s FY 2025 budget (SB 251) allocated $500M to fund a quantum research and application campus and establish Illinois as a global quantum leader.
The quantum campus already began development at the end of July when California-based PsiQuantum announced they will be investing at least $1B in a facility at the South Works site on Chicago’s Southeast side lakefront. PsiQuantum will receive a $92M MICRO income tax credit and will also benefit from the $500M state quantum campus investment. Since the PsiQuantum announcement, quantum development has continued to expand in Illinois. On September 24, EeroQ Corporation announced a $1.1M investment in the company’s quantum headquarters in Chicago’s Humboldt Park neighborhood. EeroQ will also receive a $563,063 EDGE credit for startups to bolster its team and tools to develop a commercial-scale quantum computer.
In other economic development news, Illinois executed two REV agreements in August. Netherlands-based electric vehicle charging station manufacturer EVBox established its U.S. headquarters in Libertyville in back in 2023. On August 6 of this year, EVBox secured a $3.1M REV incentive for creating an estimated 50 new jobs and retaining 23 jobs at their existing facility. Additionally, Swedish EV component part manufacturer Ymer Technology relocated its U.S. headquarters from Houston, TX to Buffalo Grove. The company plans to invest $5.7M in Illinois and will receive a $2.9M REV incentive for the 33 new jobs they are creating.
Illinois has positioned itself as a leader in electric vehicle manufacturing and quantum computing, in part due to strong state investment in the growing industries. The state already benefits from a talented workforce, top universities, a central location in the country, and relatively favorable energy costs. Targeted state investment is often the deciding factor for companies looking to establish or expand U.S. business. Gov. Pritzker and the Department of Commerce and Economic Opportunity (DCEO) will look to build upon their economic development successes in the coming years.
Important Upcoming Dates – Statewide
November 5 – 2024 General Election
November 12-14 – Veto Session Week 1
November 19-21 – Veto Session Week 2
In the News
Early voting starts Thursday throughout much of Illinois – The Chicago Tribune, September 26, 2024
Election Day is still 40 days away, but election season kicks off Thursday throughout much of Illinois. That’s when in-person early voting begins in many parts of the state, including the collar counties of DuPage, Kane, Lake, McHenry and Will. Thursday also marks the first day for local election authorities in the state to mail ballots to registered voters.
Illinois Dems continue focus on down-ballot races as early voting begins – The Daily Line, September 26, 2024
Illinois voters can begin casting ballots Thursday in an election year where much of voters’ focus is on the presidential contest at the top of ticket. At the Democratic Party of Illinois, the goal is also to ensure Democratic candidates further down the ballot find success amid noise generated by the presidential contest.
‘Not a real problem’ or ‘mission critical’? State senate hopefuls differ on climate change – Daily Herald, September 25, 2024
A Republican candidate for state senator said he views climate change as “not a real problem,” while the Democratic incumbent said he is “terrified for the planet” that he will leave his kids. The policy differences between state Sen. Rob Martwick and GOP challenger Jon Luers are stark — as outlined during a recent 45-minute interview with a representative of the Daily Herald Editorial Board — but perhaps not more so than on climate change.
Illinois voters will consider whether millionaires should be taxed more to fund property tax relief – WBEZ Chicago, September 26, 2024
A 3% tax on individual income over $1 million would flood Illinois’ coffers with at least $4.5 billion in new revenues annually, a new state estimate shows weeks ahead of an advisory referendum on earmarking that money for property tax relief.
House GOP Not Assisting Vulnerable Rep. McLaughlin – The Illinoize, September 24, 2024
One of the most vulnerable House Republicans in the November election will not be receiving assistance from the House GOP campaign arm, leaving him vastly underfunded in a district Democrats could pump millions into to flip the seat. Rep. Martin McLaughlin (R-Barrington Hills) is among a number of House GOP members who don’t pay “dues” to the campaign arm of the caucus. Members typically pay a fee to the caucus committee, which affords them access to caucus staff, resources, and mailings, often known as a “program.”
Judge not ready to retry former AT&T Illinois exec accused of bribing Mike Madigan – Chicago Sun-Times, September 24, 2024
The judge overseeing the case against a former AT&T Illinois executive accused of bribing ex-state House Speaker Michael J. Madigan declined Tuesday to schedule another trial, saying he first wants to hear arguments on a motion for acquittal.
Court records show two Springfield insiders profited from a controversial state government program – Chicago Sun-Times, September 24, 2024
Two longtime Springfield political insiders — a retired Democratic lawmaker and a Republican lobbyist — were paid hundreds of thousands of dollars each through an Illinois government program, according to court records in a civil case.
Jim Dey | Madigan can’t feel too good about mistrial for former AT&T exec – The News-Gazette, September 24, 2024
Last week’s hung-jury mistrial in the case of a former Illinois AT&T executive charged with bribing ex-Illinois House Speaker Michael Madigan came as both good and bad news to the onetime political powerhouse. The jury’s failure to convict now-retired AT&T Illinois President Paul La Schiazza surely put a smile on Madigan’s face.
Political newcomer challenging 3-term incumbent in State House District 59; ‘I’m fed up no one is willing to step up’ – Chicago Tribune, September 23, 2024
State Rep. Dan Didech, D-Buffalo Grove, is pleased with the direction the state is going, and wants to continue doing his part as the representative of the Illinois House of Representatives’ 59th District. His Republican opponent this fall, Chris Henning, has a different take on the state of the state.
News in briefs: State legislators worried mayor ignoring bill; New federal money for IDOT projects – The Daily Line, September 24, 2024
A pair of Democratic lawmakers are asking for Gov. JB Pritzker’s help to ensure Chicago Mayor Brandon Johnson follows a new state law helping to start a new Chicago police district. And the Illinois Department of Transportation received new money from the federal government for Chicago-area projects.
Pelosi sets abortion-centered campaign agenda for Illinois Dems – The Daily Line, September 24, 2024
Between the economy, future of the presidency and abortion, voters in Illinois and around the country have heard from political candidates about what should be this election’s most important issue. Setting the agenda for Illinois Democrats at a fundraiser Monday, former U.S. House Speaker Nancy Pelosi said abortion is a political issue that affects the rest.
With jury deadlock ending La Schiazza trial, prosecutors in looming Madigan case face clear challenge – Chicago Tribune, September 20, 2024
Closing arguments in the federal trial of former AT&T Illinois boss Paul La Schiazza, who was accused of bribing House Speaker Michael Madigan, brought an expected crowd to a Chicago courtroom. But only one spectator could claim to have had a direct influence on the proceedings. That was James Snyder, the former mayor of Portage, Indiana, whose fight to overturn his own bribery case ended with a U.S. Supreme Court ruling in June that raised the bar for prosecutors in a number of Illinois public corruption cases.
University of Illinois Springfield Professor: Watch out for political polling as Pres. election inches closer – WJBC, September 20, 2024
Cut through the noise when you listen, watch, or read news. That is the advice of a University of Illinois Springfield professor who directs a graduate program in public affairs reporting. Jason Piscia, on a recent panel discussion at UIS, says – Watch out for polls!
Speaker of Illinois House: “I think there’s racism in America” – WJBC, September 20, 2024
Illinois House Speaker Chris Welch (D-Hillside), the first Black person to occupy that office, touched on race when he participated in a question-and-answer at the City Club of Chicago. “I think there’s racism in America,” said Chris Welch (D-Hillside). “Racism still exists in this country, and I can tell you there are times when race has come into play, but that’s the story of my life as a Black man in America – not just as speaker, but as a Black man in America.”
Amid pushback, controversial nominee for NC governor Mark Robinson cancels appearance at North Shore GOP fundraiser – Chicago Tribune, September 21, 2024
Embattled North Carolina Lt. Gov. Mark Robinson has canceled a scheduled appearance at a Kenilworth fundraiser later this month, a North Shore Republican group announced Saturday, after Republicans raised concerns that the optics of the event could undermine the state GOP’s larger efforts to rebuild itself as a credible alternative in a blue state.
Illinois House Republicans renew calls for property tax reform – WAND, September 20, 2024
Illinois House Republicans believe state lawmakers need to pass property tax reform as soon as possible. The caucus is renewing calls for sweeping changes rather than pushing work to a task force. “Illinois is still poised to be a leading economy in our nation,” Rep. Dan Ugaste (R-Geneva) said Thursday. “But we’re certainly never going to do it by overtaxing homeowners until they either lose their properties or are rendered valueless or we drive businesses out of our state.”
Lack of available data to clearly support, dismiss ShotSpotter’s effectiveness, experts tell joint committee – The Daily Line, September 27, 2024
Data collected related to the acoustic gunshot detection technology ShotSpotter is incomplete and messy, creating contradictory conclusions and resulting in an insufficient amount of information to make an educated decision about its future, experts told alderpeople on Thursday.
Hire360 opens new training hub to boost diversity in Chicago’s construction and trades – WGN9, September 26, 2024
A local nonprofit workforce development organization is celebrating a new state-of-the-art development center geared towards reshaping diversity in the city’s construction and trade industries.
Burnett says to count him out of ShotSpotter veto override – Chicago Sun Times, September 26, 2024
Newly confirmed Zoning Committee Chair Walter Burnett (27th) said Thursday he wants to keep ShotSpotter, but will not cast the 34th vote needed to clinch an override of Mayor Brandon Johnson’s threatened veto.
Johnson seeks approval for $1.5 billion debt refinancing – Crain’s Chicago Business, September 25, 2024
Chicago Mayor Brandon Johnson is seeking approval to sell as much as $1.5 billion of bonds to refinance old debt to help plug this year’s budget deficit. Johnson filed the proposed ordinance last week, and it now sits with the City Council’s Finance Committee. If passed by the committee, which meets on Oct. 2, the measure then needs approval from the full council.
Chicago Mayor Brandon Johnson’s battles with city council carry high stakes ahead of budget fight – ABC 7, September 25, 2024
Mayor Brandon Johnson has found himself embroiled in a pair of high profile battles with the Chicago City Council at an important juncture for his administration. One involves ShotSpotter, the other Chicago Public Schools CEO Pedro Martinez.
Joint public safety, police and fire committee to hold hearing on Inspector General report on ShotSpotter – The Daily Line, September 26, 2024
A joint City Council panel will hold a hearing on the Chicago Office of the Inspector General’s report on ShotSpotter just days after the technology went offline in the city and as the company dismantles the sensors around the city. The Joint Committee on Public Safety and Police and Fire will hold two subject matter hearings during a Thursday afternoon meeting that kicks off at 12:30 p.m. in council chambers.
In push to oust CPS chief Martinez, Johnson tests the limits of his power again – Crain’s Chicago Business, September 26, 2024
Months before Chicagoans cast votes for a partially elected school board that will eventually become fully independent from City Hall, Mayor Brandon Johnson’s grip over the school district is already tenuous.
Chicago Expects to Spend Less Than $141M to Care for Migrants in 2024: Officials – WTTW, September 24, 2024
Five months after the Chicago City Council agreed to spend an additional $70 million to house, feed and care for migrants, city officials don’t expect to need that money after all. Mayor Brandon Johnson burned a significant amount of political capital to convince the City Council in April to appropriate the money, as officials braced for a renewed surge of migrants from the southern border on buses paid for by Texas Gov. Greg Abbott timed to coincide with August’s Democratic National Convention.
News in brief: Inspector General calls on council to institute additional campaign finance reforms; County announces $3.6M in cannabis business development grants – The Daily Line, September 25, 2024
The city’s watchdog issued a report calling on additional municipal campaign finance reforms following passage of an ethics ordinance by the City Council last week, and the county announced millions of dollars in grant awards to help cannabis businesses start and operate.
Amtrak to run new service from Chicago to Florida — for now – Chicago Tribune, September 25, 2024
New, temporary Amtrak service between Chicago and Florida will soon begin running as the rail agency gears up for major construction along its busy Northeast Corridor. The new Floridian trains will run daily from Chicago to Miami, stopping along the way in Cleveland, Pittsburgh and Washington, D.C. Service begins Nov. 10.
Ed Burke, Chicago’s longest-serving City Council member, is in prison – Chicago Sun-Times, September 23, 2024
Edward M. Burke, the onetime dean of the Chicago City Council and its longest-serving member, has surrendered to a federal prison to begin serving his two-year sentence for racketeering, bribery and attempted extortion, authorities have confirmed. Burke, the former 14th Ward alderman, is in custody at a low-security facility in Thomson, Illinois, according to the Federal Bureau of Prisons.
Here’s how much money you need to be a middle-class Chicagoan nowadays – Crain’s Chicago Business, September 24, 2024
Roughly half of Americans describe themselves as being members of the middle class. But what does that actually mean? Class categories vary drastically by location, so it can be insightful to look at local data to see where you fall relative to your neighbors.
ShotSpotter wind down period begins as mayor announces search to vet replacements – The Daily Line, September 24, 2024
The acoustic gunshot detection technology ShotSpotter went offline Sunday night, and Mayor Brandon Johnson that same day announced the city had issued a request for information (RFI) from companies to begin to evaluate potential replacements. The city is not limiting its search to acoustic gunshot technology. Rather, the city is looking to “to gather recommendations on reliable and efficient forms of first responder technology to ensure immediate attention from first responders in emergency situations,” according to a news release Sunday night from the mayor’s office.
Downtown apartment rents have flattened out. Here’s why landlords are still feeling optimistic. – Crain’s Chicago Business, September 23, 2024
Though rent growth slowed to a halt last quarter, downtown building owners have a lot to be happy about: Demand is strong, projects that have hit the market are getting leased up, and that stagnation isn’t expected to continue in 2025.
City announces first projects to receive financing through new bond proceeds plan – Crain’s Chicago Business, September 20, 2024
Mayor Brandon Johnson has announced the first two affordable housing projects that will receive financing from his $1.25 billion bond funding plan to inject money into blighted Chicago neighborhoods. Approved by the City Council in April, the plan shifts how the city will subsidize affordable housing, provide business grants and launch mixed-use developments in disinvested commercial corridors as dozens of tax-increment financing districts expire over the next several years.
County to consider ordinance creating $15M property tax relief fund for homeowners – The Daily Line, September 23, 2024
The Cook County board is considering the creation of a relief fund for property taxpayers whose bills have spiked beyond what they are able to pay. At a County Workforce, Housing and Community Development Committee hearing on Wednesday, commissioners talked about the idea as something the county can do in the short term to address increasingly unaffordable property tax hikes for some residents while potential action at the state level plays out.
Trying to build a more climate-resilient Chicago, one balloon at a time – WBEZ Chicago, September 19, 2024
On a hot July day, a team of scientists led by Argonne National Laboratory launched scores of weather balloons from four different Chicago locations, hoping they’d make it up to 12 miles above the city. Their goal? To track how hot air rises over the city so we can better predict how climate change-driven heat will impact different neighborhoods in the future.
IDOT receives $305 million for South Side rail, west suburban expressway improvements – Chicago Sun-Times, September 20, 2024
The Illinois Department of Transportation will receive over $305 million in funding for two big projects to improve traffic and rail safety in the Chicago area, officials announced Friday. About $210 million of the grant from the U.S. Department of Transportation Mega program will go the Chicago Region Environmental and Transportation Efficiency Program, also known as CREATE, an effort to improve rail transportation in the region. The remaining $95 million will go toward improving the interchange at I-290 and 1st Avenue.
