Illinois Gov. Blagojevich Administration Hosts Trade Summit in Will County to Promote Economic Growth in Illinois

March 19, 2008 -- CHICAGO – Officials from Governor Rod R. Blagojevich’s administration and the Will County Center for Economic Development hosted a trade summit for Chicago International Trade Commissioners today to promote economic growth in Illinois. U.S. Senator Dick Durbin (D-Illinois) was one of the featured speakers at the luncheon held at Lewis University.

The event brought in domestic representatives of 16 countries around the world. Attendees of the one-day event also received a first-hand look at innovative new technologies featured at some of the state’s most enterprising companies. The Illinois Department of Commerce and Economic Opportunity (DCEO) hosted the summit on behalf of the state. DCEO’s Office of Trade Investment oversees programs and services designed to create jobs and commerce in Illinois by helping Illinois firms export their products and by helping attract new foreign investment to the state.

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“The $48.7 billion in exports last year in Illinois is an indicator of the state’s economic health. While the nation is experiencing an economic slowdown, Illinois continues to top export records. We’re not only helping to create better jobs for more people at home, but we’re also creating opportunities for Illinois companies, large and small, to perform better in the global market,” said Gov. Blagojevich.

“To our friends and partners, distinguished international trade commissioners we say, ‘welcome to Illinois and Will County. We mean business,’” Senator Durbin said. “On an even playing field, Will County businesses can compete against any company, anywhere, whether you are looking for corn, or state-of-the-art nanotechnology. With fair trade agreements, we can all enjoy genuine shared prosperity.”

The summit included corporate visits to three companies who exhibit innovation leadership in Illinois.

McDonald’s Innovation Center
The innovation center is a working lab where new kitchen equipment and restaurant layout are not only designed but put into motion. Within a small section of a typical warehouse, the innovation center is continuously testing state-of-the-art kitchen layouts and equipment. The Center consists of several full sized working McDonald’s kitchens and restaurants. Any one of more than 31,000 McDonald’s can be replicated at the core lab. Not only are new ideas created they are tested on-site to understand the effects of these innovations before appearing in any restaurant.

Nanophase Technologies
Nanophase Technologies is an industry-leading nanocrystalline materials innovator and manufacturer with an integrated family of nanomaterial technologies. The entire focus of Nanophase is nanotechnology, with two distinct and patented processes for the preparation and commercial manufacturing of nanopowder metal oxides. The Company markets its products to target markets and customers, including multinational corporations and Fortune 500 companies. As a small company with a strong focus on technology and commercial manufacturing, the Nanophase business model revolves around strategic partnerships.

Chicago Tube and Iron
Founded in 1914, CT&I is one of the largest steel service centers in the United States, with ten subsidiaries throughout the Midwest. Inventory, fabrication and processing are facilitated in over 1.2 million square feet of efficient, state-of-the-art facilities. CT&I houses over 30,000 line items of inventory from some of the world’s premier manufacturers. Its 90+ year history of consecutive profitability has provided the necessary capital resources for growth, thus ensuring consistent reliable customer service.

“The Chicago International Trade Commissioners Association (CITCA) is very pleased to be hosted by the DCEO, Will County officials and the area’s business community,” said Cor Hersbach, Deputy Consul General of the Netherlands and CITCA Chairman. “We are here to listen and learn and to see where we can make international connections, which provide a mutual benefit. International trade is never a one-way street, it flows in two directions with the intention to stimulate economic activity between our countries and to contribute to a continued positive relationship through which all can develop and prosper.”

In 2007, Illinois companies exported a record $48.7 billion in products, which was a 16 percent increase from 2006. Since 2002, Illinois exports have grown by more than $23.13 billion. Illinois is now the fifth largest exporting state in the country, which is its highest ranking ever.

OTI is working to attract essential Foreign Direct Investment (FDI) to Illinois through a host of promotional activities, including FDI seminars and reverse trade missions. Thirty-two FDI programs have already taken place this Fiscal Year, which have included Canada, China, Europe, India, Israel and Japan. Illinois currently ranks first in the Midwest in foreign direct investment. Through strategic promotional seminars overseas and domestically, OTI is continuing to establish foreign investment in Illinois and helping to create more Illinois jobs.

“Gov. Blagojevich and I are strongly committed to preserving the strength of Illinois’ economy. As the Governor’s lead economic development agency, DCEO is continuously seeking new opportunities to expand our presence overseas and promote Illinois products and services in the global market, which helps keep jobs here in Illinois,” DCEO Director Jack Lavin said.

Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.

Source: Senator Dick Durbin