(Chicago, IL) — April 12, 2011. Governor Pat Quinn today announced a $10.3 million business investment package to help a Chicago-based steel manufacturer, a large source of campaign cash to ex-Governor Rod Blagojevich, expand its operations and help keep more 300 jobs in Illinois.
“We’re helping to keep good-paying, sustainable jobs right here in Illinois, boosting our manufacturing industry and improving our economic competitiveness,” said Quinn.
A. Finkl & Sons, which donated more than $400,000 to Blagojevich over the years and where the ex-governor’s father worked, is the world’s leading manufacturer of specialty steel alloys and plans to construct a new $150-million manufacturing campus on Chicago’s south side.
Finkl has been working with state and city officials to relocate to a larger facility that would allow the company to expand production and increase its product lines to serve a growing global marketplace. The company plans to redevelop the 44-acre former Verson Steel plant that has been vacant for many years.
The plant will serve as the company’s North American headquarters. Finkl considered other locations for expansion, but ultimately opted to remain in Chicago rather than move out of state or to Quebec, Canada.
“Illinois is a competitive place to do business, and Finkl’s decision to stay in the state is a huge positive for our economy and for job growth and investment,” said Warren Ribley, director of the Illinois Department of Commerce and Economic Opportunity.
“By supporting the Finkl project, we are helping to ensure businesses can remain and thrive.”
DCEO is administering the state’s $10.3 million business investment package. In addition to support from the state, Chicago’s Community Development Commission approved $20 million of support through the Burnside Tax Increment Financing (TIF) district.