Navistarï¿½s $205 Million Investment will Spur Economic Growth Across Northeast Illinois
LISLE ï¿½ September 8, 2010. Governor Pat Quinn today announced that Navistar International Corporation will keep its headquarters in Illinois and is moving forward with its plans to expand its Illinois operations, which will create and retain 3,000 permanent jobs and 400 construction jobs over the next several years. Governor Quinn proposed, helped to pass and signed legislation into law in June to expand the Economic Development for a Growing Economy (EDGE) tax credit that specifically benefits Navistar, which was the companyï¿½s determining factor to stay in Illinois.
ï¿½Navistar knows that there is no better place to expand its operations than Illinois, and we tailored a targeted investment package to meet the companyï¿½s needs and keep thousands of people working,ï¿½ said Governor Quinn. ï¿½By being innovative and aggressive, weï¿½re seeing significant investment in Illinois, which is creating more jobs and moving our economic recovery forward.ï¿½
Navistarï¿½s $205 million investment will help the truck and diesel engine manufacturer relocate its headquarters from Warrenville to Lisle and assist with upgrades to an existing manufacturing and research and development facility. In addition, Navistar will make a significant investment to relocate its parts distribution center, currently located in West Chicago, to Joliet.
The announcement comes following the companyï¿½s decision to terminate its initial plans to open a new headquarters in Lisle after meeting local opposition. Governor Quinn and Attorney General Lisa Madigan immediately stepped in to help resolve those issues, and the reconfigured project is now moving forward.
ï¿½At Navistar, we like to say that we always want to stand up and stand tall for what we believe, weï¿½re here today because Gov. Quinn did just that,ï¿½ said Navistar Chairman, President and CEO Dan Ustian. ï¿½He stood up for good paying jobs, for economic development and for Lisle and Navistar. We are grateful to his administration and to Attorney General Lisa Madigan for her leadership.ï¿½
The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the stateï¿½s $64.7 million business investment package. The package includes EDGE tax credits and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of Navistarï¿½s workforce. The enhanced EDGE tax credit enables companies in the auto manufacturing industry, which is among Illinois' largest employers, to retain employee income tax withholdings as an alternative to the current EDGE corporate tax credit and reinvest those funds into operations that create more jobs.
ï¿½Weï¿½re giving companies like Navistar the tools they need to increase their competitiveness and keep this economy moving forward,ï¿½ said DCEO Director Warren Ribley. ï¿½This project is a great example of how Illinois is nurturing an environment where companies can grow and thrive.ï¿½
Illinois' manufacturing sector has added more than 12,000 jobs in 2010, which is a higher growth rate than the national average. In total, Illinois has added more than 43,000 jobs this year.