From a high of $9.9 billion in 2010, Illinois' backlog of bills has now fallen to $4.174 billion -- the lowest it has been in years.

Governor Pat Quinn inherited a system in which one year's bills were carried over to be paid in the following year. Gov. Quinn and the General Assembly worked together to end that practice and set aside money each month to pay down the backlog that rose to $9.9 billion during the recession.

The bond ratings agencies have praised the administration's efforts as the backlog has come down, with Fitch Ratings noting, "The state prudently used higher than forecast income tax collections in fiscal 2013 to pay down a portion of the accounts payable balance."

Moody's added, "The governor's budget for the first time demonstrates how the state might decrease its unpaid bill backlog over several years. It presents a "blueprint" showing the state trimming accounts payable to about $2.2 billion, as of the end of fiscal 2019. This amount, consistent with a 30-day payment cycle, would be only a third of the backlog at the end of fiscal 2013."

"Even as outside factors have forced us to make difficult but financially sound choices in all areas of the state budget, Governor Quinn has maintained the discipline of dedicating money to pay down the backlog of bills," said Acting Budget Director Jerome Stermer.

The backlog is cyclical, generally falling in the first part of the year as income tax receipts come in and rising in the second half of the year, but the overall trend has been down as the administration, working with the General Assembly, has dedicated resources to paying down the backlog, Stermer said.

Beginning in January, on the 15th of each month, the Governor's Office of Management and Budget has posted on its website a detailed account of the backlog of bills. Traditionally, April is the strongest month for state tax receipts and for paying down old bills. http://www2.illinois.gov/gov/budget/Documents/Bill%20Backlog%20Presentation%205.14.14.pdf This April's results surpassed last April's, with the final backlog number posted Thursday $1.1 billion less than the previous April.

The administration's latest forecast for the where the backlog would finish at the end of the fiscal year on June 30 was $4.9 billion. While the backlog typically rises in May, the administration foresees no problem hitting its target for the end of the fiscal year.

State Unemployment Rate Reaches Lowest Level Since 2008

CICERO - As Illinois' unemployment rate fell to its lowest point in more than five years, Governor Pat Quinn today visited an innovative and growing local manufacturer, United Gasket Corporation, to discuss the state's ongoing economic recovery from the worst recession since the Great Depression. Illinois' unemployment rate has dropped to 7.9 percent - its lowest level in more than five years and lower than when the Governor took office. Today's event is part of the Governor's commitment to driving Illinois' economy forward.

"Illinois is making a comeback," Governor Quinn said. "Today's news that unemployment has fallen to its lowest level since 2008 is further proof that our economy is expanding and creating jobs. Companies like United Gasket Corporation are hiring, small companies are being created and larger companies are growing and adding more workers."

"While we know we have much more work to do to create more jobs and growth in Illinois, this is good news and we must continue driving our economy forward," the Governor said.

The Illinois unemployment rate hit a new five-year low in April when it fell to 7.9 percent, according to data released earlier today by the Bureau of Labor Statistics and the Illinois Department of Employment Security. More people working pushed the rate down 0.5 points, the lowest rate since December 2008 and largest monthly decline in the history of this data series that began in 1976.

Since taking office and inheriting decades of mismanagement, the Governor has enacted worker's compensation reform and unemployment insurance reform to make Illinois a better place to do business, in addition to major fiscal reforms such as pension reform and Medicaid restructuring that are restoring fiscal stability to Illinois. Today Governor Quinn is pushing a new tax cut for businesses that provide job training. By lowering the cost to train workers, this will make it easier for businesses to create new jobs and ensure workers have the skills to drive a 21st century economy.

The Governor is also proposing to reduce the fee to establish a Limited Liability Corporation (LLC) by more than 90 percent, from $500 to $39 - the lowest in the nation. Formation as an LLC encourages entrepreneurs to invest their time and money into viable business enterprises. Reducing the filing fee to $39 would make it easier for small businesses to start and grow in Illinois.

United Gasket Corporation is an innovative Illinois company that has reported double-digit percentage growth in revenue and profit for each of the last three years. The manufacturer of custom die cut parts for automobiles and other industries currently employs 90 people, but expects that number to increase by 10 to 15 percent in the next six months.

"We are thrilled with the support we have received from the state for job training and to improve our production," United Gasket President Mark Pahios said. "The resources here have helped us develop business in Mexico and China. We are working hard to send Illinois products into those markets."

United Gasket has received about $20,000 in state job-training grants over the last decade for services accessed through University of Illinois Business Innovation Services. The company has invested in lean manufacturing techniques to take out unneeded costs and push into new markets overseas.

Governor Quinn said the company's commitment points to a need for state government to adopt a responsible budget that supports Illinois' core strengths in the global economy - its education, workforce training and transportation systems.

For more information on doing business in Illinois, visit illinois.gov/dceo.

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Everyday politicians and the talking heads in the media bombard us with messages that humanity is screwed and capitalism needs improving. They also try to lead us to believe that if we vote for a particular politician, or for a piece of legislation, that humanity will be unscrewed and capitalism improved--this is flat-out wrong. We the people are responsible for humanity, and if capitalism needs improving, we the people are responsible for that as well.

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Investment in the Davenport market brings the finest automotive experience to the community in a LEED Certified Building

DAVENPORT, IA - May 12, 2014

NEW FACILITY FOR SMART TOYOTA

Today, Smart Toyota of Quad Cities, celebrates the ground breaking of its new facility at 1501 East 53^rd Street, at the corner of 53^rd and Eastern Avenue. The new location is expected to be ready for occupancy by late Fall 2014.

LEED CERTIFIED PROJECT

Smart Toyota of Quad Cities is reinforcing its commitment to the Davenport market by providing a state-of-the-art customer experience encompassing nearly 40,000 square feet on two levels. The dealership is planned as a Leadership in Energy and Environmental Design (LEED) fully-certified structure - one of the few privately owned in the Quad Cities and the first area car dealership to use the industry standard for "green" design. This will be one of the area's most environmentally-friendly and energy efficient facilities.

LOCALLY BUILT

As a hometown business, and as part of the LEED Certification, materials and labor will be sourced from local contractors and suppliers. Earthmoving will begin on the site in mid-May. When the project is complete, Smart Toyota of Quad Cities will employ over 80 team members.

ENHANCED CUSTOMER EXPERIENCE

"We are pleased to bring to Davenport, and the entire Quad Cities Market, the finest Toyota sales, service and ownership experience with this new state of the art facility," said Nick Tarpein, a Quad Cities native and General Manager of Smart Toyota of Quad Cities. "With our additional space and new facility, we will be adding an automated car wash, as well as a luxury waiting area and multiple quick service lanes for our customers. None of this would have been possible at our current location."

TOYOTA HISTORY

Toyota has been in Davenport since 1969, and was purchased from the Guilfoyle family in June 2011 with a commitment of keeping it in the Davenport market for years to come. Smart Toyota of Quad Cities will continue to operate at its current location on Brady Street in Davenport and online at www.smarttoyotaquadcities.com before relocating in the Fall.

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