INFORMATION TECHNOLOGY

  The New Economy is driven by entrepreneurs, small businesses, and technology-based start-ups. The jobs that these firms create are on average much better paying jobs than those in most other industries. We want these jobs for Illinoisans.

In the increasingly global New Economy, Illinois is no longer competing against other states to attract new high tech businesses and the good jobs they bring. Rather, we are competing against dozens of other countries, located in every corner of the world.

Because of the Department of Commerce and Community Affairs and other state, local, and university programs, Illinois is currently among the top three states in the number of firms and the growth of technology.

To retain this advantage and to compete in the 21 st Century, VentureTECH is building on our existing efforts and strengths by provid-ing investments to increase technology spin-offs, encourage new technology ventures, market our success, and maintain our leadership position in driving economic development in the high-tech New Economy.

• Bridging the Digital Divide - Governor Ryan signed the “Eliminate the Digital Divide Law” in 2000 to help low-income families gain the technological skills and access to hardware needed to help them get jobs in the New Economy. This program provides resources to organizations that help plan, establish, administer and expand Community Technology Centers to serve residents in many low-income communities in Illinois. In the last two years, $1.5 million in grants have been issued to more than 36 organizations. Because of changes in the state’s Telecommunications Act, this program will be expanded to an annual $5 million allocation.

• Community Technology Fund - The Illinois Commerce Commission has created the Community Technology Fund with money set aside as a part of the 2001 merger of Ameritech and SBC Communications. More than $1.2 million from this fund will create a statewide virtual community computing center to providee resources, information, and individualized assistance to community organizations in all parts of the state. More than 75 grants totaling nearly $3 million have been issued to community organi-zations and schools over the past two years.

• DCCA Technology Advancements - VentureTECH increases funding to assist businesses and research institutions in the development and utilization of modern technologies to strengthen Illinois’ economic competi-tiveness. Illinois assists in the commercialization of new technologies, to secure research and development funding, and to leverage private and federal investments. More than $8 million has been allocated and awarded.

• Illinois Technology Enterprise Corporation - The state has established ITEC centers in Champaign and Evanston that are designed to stimulate the formation, growth and retention of technology-based businesses in Illinois. By leveraging and organizing the strength of the local universities and the growing technology leadership in many communities, ITEC promotes technology growth through the improvement of delivery of existing economic development programs and the promotion of other State resources. In Fiscal Year 2002, the ITEC centers have aided more than 100 entrepreneurs.

• University of Illinois Tech Incubator - With VentureTECH funding of more than $10 million, the incubator is becoming an integral part of the Champaign-Urbana research park, which will provide essential office and laboratory space for researchers and entrepreneurs. The State’s invest-ment is being matched by university and private resources. New spin-off companies are expected to result from improved commercialization of university research, creating new jobs and industries in Illinois. The facility is expected to be complete in November of 2002.

• Technology Marketing - It is critical to promote Illinois’ growing promi-nence in the New Economy and for the first time the state is aggressively marketing its high-tech strengths. Through a four-year, multi-million dollar marketing campaign, Illinois is educating corporate decision-makers about the advantages of doing business in the state. The marketing campaign focuses on Illinois’ ability to offer companies access to a wide range of technology assets, while touting the state’s unique position as the center of the “Convergence Economy.”

• Office of Technology Transfer - In order to ensure that Illinois students and researchers have every opportunity to bring their ideas and innova-tions to market, $1 million has been provided for the University of Illinois to provide essential business services to researchers and start-up companies that spawn from University research.

• UI Microelectronics Laboratory - A major $18 million expansion of the Microelectronics Laboratory at the U of I in Urbana will spearhead research and industrial collaboration in nanotechnology. This outgrowth of supercomputing will dramatically benefit biotechnology and information technology efforts.
  
• IIT Center for Safe Food for Small Businesses - With more than $2 million invested, this program provides direct technical assistance to small and medium sized food manufacturers to assure both safe products for public consumption and improve companies’ competitiveness.