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Blog Category: Illinois

EDA: By Attracting Investment in America, We Create New Jobs

Today, Acting Assistant Secretary for Economic Development Matt Erskine joined Illinois Governor Pat Quinn, Rochelle Mayor Chet Olsen, and Members of Congress at a ribbon-cutting ceremony for this new Nippon Sharyo railcar production facility in Rochelle, Illinois

Guest blog post by Matt Erskine. Acting Assistant Secretary of Commerce for Economic Development

Attracting foreign direct investment (FDI) to the United States, and the jobs that come with it, has been a priority of the Obama administration since it came into office. Business programs from every federal agency have been thoroughly ramped up, and a new initiative targeting foreign companies thinking about locating in the United States, SelectUSA, was launched in 2011.

The United States is already the largest recipient of FDI in the world. In 2010, such investment totaled $228 billion, up from $153 billion in 2009, supporting more than five million jobs throughout the country. Those workers made up 4.7 percent of total private-sector employment in the United State, with an annual payroll of $410 billion.

Success in attracting FDI doesn’t happen without a lot of hard, collaborative work on the part of states, municipalities, development agencies, and the federal government. I saw an excellent example of this today in the city of Rochelle, Illinois, where I participated in a ribbon-cutting ceremony to mark the opening of a new manufacturing facility for Nippon Sharyo U.S.A., the U.S. subsidiary of a Japanese manufacturer of railcars.

Secretary Locke Announces ARRA Grants to Expand Broadband Internet Access and Expand Economic Growth

Recovery Act logo. Click to go to Commerce Department Recovery Web site.

U.S. Commerce Secretary Gary Locke announced 23 American Recovery and Reinvestment Act (ARRA) investments to help bridge the technological divide, boost economic growth, create jobs and improve education and healthcare cross the country. The grants will increase broadband access and adoption in California, Florida, Georgia, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Maryland, North Carolina, New Mexico, Ohio, Oregon, Puerto Rico, Tennessee, Texas, Wisconsin and West Virginia. (More)

Secretary Locke Announces Over $11.9 Million in Recovery Act Grants to Create Jobs, Boost Development in Seven States

EDA seal.

Commerce Secretary Gary Locke announced over $11.9 million in Economic Development Administration (EDA) American Recovery and Reinvestment Act (ARRA) grants to help seven states boost private investment and create new jobs. The grants will make water treatment facility upgrades in Kentucky; help build an access road to serve an industrial park in Minnesota; help make roadway updates to improve access to an industrial park in Illinois; help build water and sewer infrastructure needed to spur business development in Georgia; convert an existing building for use as a regional vocational training facility in Idaho; expand an existing dock and install a crane to boost the commercial fishing sector in Alaska, and extend an avenue and provide water infrastructure in Washington state.

Secretary Locke Announces $7.6 Million in Recovery Act Grants to Create Jobs, Boost Development in Four States

Picture of construction site for railway infrastructure improvement. Click for larger image.

U.S. Commerce Secretary Gary Locke announced $7.6 million in Economic Development Administration (EDA) American Recovery and Reinvestment Act (ARRA) grants to help four states boost private investment and create new jobs. The grants will: establish a bio-medical manufacturing and business park in Illinois; develop an industrial area in Florida; provide rail service to a technology park in South Carolina and expand an industrial park to accommodate new and existing industry in Michigan.

Secretary Locke Announces Availability of $27 Million in Recovery Act Funding to Help Midwestern Communities

AARA logo. Click to go to www.Commerce.gov/Recovery.

U.S. Commerce Secretary Gary Locke announced the availability of $27 million in grants for Midwestern communities. These grants, made possible by the American Recovery and Reinvestment Act (ARRA), are available through the U.S. Commerce Department’s Economic Development Administration (EDA). The region targeted by the grants is coping with the downturn of the U.S. auto industry. The money will be available for communities and organizations in Michigan, Ohio, Indiana, Wisconsin, Illinois and Minnesota. (More) (Remarks) (Commerce.gov/Recovery)