Joliet Jobs to be Created
Posted on September 1, 2009
A new initiative could help create thousands of new Joliet jobs.
State Gov. Pat Quinn recently signed the Intermodal Facilities Promotion Act, which is meant to encourage business development along the freight rail systems in Illinois. CenterPoint Properties, which already operates a facility in Elwood, plans to build, own and operate a new rail transportation hub in Joliet, and projects that facility would create 7,000 new jobs throughout the state.
“Now more than ever it is important that we do everything in our power to bring new jobs to Illinois,” Quinn said. “I am pleased to sign this law which provides a major incentive for growth in the Joliet area.”
Under the Act, state income taxes attributed to jobs created at the facility will be placed in an Intermodal Facilities Promotion Fund. The Department of Commerce and Economic Opportunity will administer the Fund to reimburse CenterPoint for infrastructure improvements. DCEO will award an annual grant of up to $3 million from 2010 through 2016.
“The new law provides an incentive for CenterPoint to hire thousands of employees in developing the new Joliet-based intermodal facility,” Sen. A.J. Wilhelmi said. “Through this legislation, we are creating a model for public-private partnerships. This is an excellent example of how leadership by state government can leverage significant private investment for economic growth, even in these tough times.”
As intermodal rail facilities play an important role in helping the economy grow, the Intermodal Facilities Promotion Act will help Illinois remain among the top six exporting states in the country.
“Illinois, now more than ever, must work with businesses to regain a sound economy that will employ our workforce and keep our communities strong,” Rep. Careen Gordon said. “I am confident Senate Bill 1342 will bring numerous jobs to the 75th District and help bring stability back to the local economies. By signing this legislation, Governor Quinn has showed that he continues to support communities statewide.”