American Goods Centers to Open This Fall in Beijing, Shanghai

 

SHANGHAI - September 21, 2011. Governor Pat Quinn continued his trade mission in China by visiting Shanghai where he announced Illinois exports will soon be more readily available to Chinese consumers. The Governor attended a reception hosted by the American Goods Center to announce plans to open centers in both Shanghai and Beijing this fall.

"Continued trade and cooperation with China will help Illinois remain at the cutting edge of the global marketplace," Governor Quinn said. "We are committed to working alongside the people of China on issues such as education, tourism and trade in order to help grow our economy for years to come."

The American Goods Distribution Center in Shanghai will open in October. Work on the American Goods Center in Beijing is almost complete, and it is expected to open this fall. Later this year, the American Goods Centers will open a purchasing office in Chicago and send its first purchasing delegation from China to Illinois to buy Illinois products.

In January, Chinese President Hu Jintao visited Chicago where the Beijing International Brand Management Center (BIBMC), along with the Chaoyang District of Beijing and Changning District of Shanghai and the state of Illinois, signed a memorandum of understanding to establish American Goods Centers in Beijing and Shanghai to increase the export of Illinois goods and services to China and to foster more Chinese investment in Illinois.

Under the agreement, the state will recommend Illinois products to the BIBMC - particularly in the agricultural, auto parts and construction machinery sectors - and assist with establishing the purchase center in Chicago. Through the distribution centers, BIBMC will provide intellectual property rights protection, Chinese distribution development, channel construction, marketing and other comprehensive services to Illinois companies in China.

China is Illinois' third largest export destination, and Illinois is among the top five states in agricultural exports to China. Illinois agriculture exports to China have increased each year since 2007, from $149 million to $552 million in 2009. Illinois' overall exports to China in 2009 reached $2.47 billion. In 2010, Illinois' exports to China reached $3.18 billion, representing a 29 percent increase over 2009. Nearly 30 Chinese companies have invested in Illinois, employing thousands of Illinois residents.

Governor Quinn and the Illinois delegation also visited Shanghai's Jewish Quarter, once known as the Restricted Sector for Stateless Refugees. During the 1930s, 20,000 Jews fled to Shanghai, which offered visa-free sanctuary to Jews fleeing Nazism. In accordance with a Japanese-issued proclamation, those refugees were relocated to a one-square mile area in the Hongkou District. The Quarter now includes a museum and offers educational tours of the neighborhood.

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Milan, IL....House Republican Leader Tom Cross along with Representatives Rich Morthland and Jerry Mitchell on Monday held a press conference at the Kenneth Bush farm in Milan to unveil a blueprint to attract and keep good jobs in Illinois.

"The national economy is struggling, but Illinois' economy is faring even worse," said Cross (R-Oswego).  "All but one of our neighboring states has lower unemployment than Illinois.  Today, we are introducing a plan to make Illinois more attractive to all businesses from large manufacturers, to small business entrepreneurs to family farmers."

"Family farms are the backbone of our agriculture industry and our economy in Illinois, but estate taxes are pushing families off of the land they have farmed for generations," said Rep. Morthland (R-Cordova). "We need to keep family farmers farming, and implementing a much more reasonable estate tax exemption will help a great deal. That's why we have made expansion of the exemption a key component in the plan we're announcing today."

The House Republican Job Package includes measures to:

1.      Increase the estate tax exemption to $5 million.

Under the current law, when family farms are passed from generation to generation the heirs are hit with a huge estate tax if their assets are worth more than $2 million.  Family farm assets are invested in land and equipment leaving limited available cash flow.  Our proposal would raise the estate tax exemption to $5 million?which mirrors the federal tax code.

 

2.      Re-instate the Net Operating Loss deduction.

Many businesses are losing money in this tough economy, this proposal allows them to use their net operating loss as a tax deduction extending the corporate carry forwards from 12 years to 20 years, and allowing a two year carry back.

3.      Re-enact the Illinois Research & Development tax credit.

Illinois businesses utilized this tax credit until it expired in December 2010.  Its' reinstatement would allow businesses that are doing legitimate research and development projects as defined in the law to qualify for a tax credit each year.  Our proposal would also add ethanol and biodiesel research as qualified R & D activities.

4.      Extend the life of existing Enterprise Zones by up to 20 years.

Most designated Enterprise Zones in Illinois are set to expire in the next ten years.  Our proposal would allow current municipalities around the state to extend the enterprise zones in their communities to ensure tax incentives to businesses that have located or choose to locate in these underdeveloped areas.

5.      Reduce the administrative costs and burdens involved with setting up and incorporating a Limited Liability Corporation in Illinois.

In Illinois, even the cost to set up a business is much higher.  We are proposing to reduce that fee from $750 to $100. The highest fee that any of our surrounding states currently charges is in Wisconsin at $130.

 

"This week we learned that our unemployment rate in Illinois is now almost 10%. That's unconscionable. Our neighboring states have launched aggressive campaigns to lure away our employers that provide jobs for our families. We need to fight back, and this plan is a good start," added Morthland.

"Illinois is blessed with hard working families and individuals, but they can't find work. We must become more jobs friendly. The future of our families and our communities depend upon it," stressed Representative Mitchell (R-Sterling). "The best way to attract and keep businesses here is for government to get out of their way and out of their pockets."

"When more people are working and re-investing in our communities, our economy is stronger.  For every point we reduce our unemployment rate, the state generates around $600 million in new revenue to fund state programs and services.  We can't afford not to enact these proposals," said Cross.

The package is supported by the National Federation of Independent Business and the Illinois Chamber of Commerce.

"As Illinois faces rising unemployment rates and a recession that shows no signs of life, allowing small business owners to keep more of their own money makes sense," said Kim Clarke Maisch, NFIB/Illinois State Director. "NFIB has long supported either eliminating or allowing for a high exemption on the death tax, which gives small businesses a piece of mind that their hard work will be passed on to family members.  As well, reinstating the net operating loss will be very helpful to the many businesses that experienced significant losses during this ongoing recession."

A representative of the Illinois Farm Bureau was on hand to lend support to the provision to raise the estate tax.

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Blockbuster Productions Like Superman 'Man of Steel' Put Illinois on Pace for Another Record Year

CHICAGO - September 13, 2011. Governor Pat Quinn today visited the production set of the new Superman movie Man of Steel to highlight the impact the film industry is having on the Illinois economy. Illinois' film industry saw a record $161 million in spending in 2010, a 54 percent increase from 2009, and resulted in more than 8,000 job hires. Approximately 550 people in Illinois are being hired for Man of Steel alone.

"With major movie productions like Man of Steel coming to Illinois, the film industry is continuing to strengthen our state's economy and create thousands of jobs," Governor Quinn said. "This film is a great example of how the impact of film and television productions is far-reaching in the Illinois economy, benefiting everyone from local restaurants to the carpenters, truck drivers, caterers and custodial staff who make them possible."

With the filming of Man of Steel, several major television shows and many commercial productions that have already filmed in the state this year, 2011 is promising to be another banner year for the Illinois film industry.

Man of Steel began production in late July in and around Plano, where the city was transformed into Clark Kent's hometown of Smallville. Production moved to Chicago on Sept. 7, where the movie is currently filming. The film stars Henry Cavill as Superman/Clark Kent, Amy Adams as Lois Lane, Kevin Costner and Diane Lane as Clark's parents, Laurence Fishburne as Daily Planet Editor Perry White and Russell Crowe as Jor-El, Clark's biological father. Chicagoan Michael Shannon stars as General Zod.

"Illinois continues to make important investments in the film industry as a way to create jobs and cultivate a more sustainable industry, which will help Illinois maintain its competitive edge against other leading production centers," DCEO Director Warren Ribley said. "The state sees an immediate return on investment when productions like Man of Steel film in Illinois, not only by increasing economic activity and adding jobs, but also by showcasing Illinois' great locations and skilled workforce."

"Last year was a record-breaking year for the Illinois film industry and with major productions like Man of Steel filming in Illinois, this is sure to be another successful year," Betsy Steinberg, Managing Director of the Illinois Film Office said. "We're seeing more and more films, TV series and commercials choosing to shoot in Illinois, which is giving our economy a boost and creating jobs."

Illinois' film industry saw a record $161 million in spending in 2010, which topped the $155 million in spending in 2007 and represents a 54 percent increase from 2009.

Earlier this year, Governor Quinn helped dedicate a new soundstage development, Cinespace Chicago Film Studios, which will make Illinois an even more attractive filming destination. The new studio, when fully built out, will include 1.2 million square feet of space and is located on 48.2 acres at the site of the old Ryerson Steel property on the near southwest side of Chicago between Ogden and Western Avenues.

 

With many unique locations, talented crews, and ample sound stages, the Illinois Film Office (IFO) actively pursues film projects by promoting Illinois as an ideal location to film. In addition, the IFO administers the Illinois' Film Tax Credit, which has been instrumental in spurring growth of Illinois' film industry. Illinois offers a 30 percent tax credit to filmmakers for money spent on Illinois goods and services, including wages paid to Illinois residents. Since its inception, the Film Tax Credit has helped bring over half a billion dollars in revenue to the state and over 10,000 full time equivalent jobs.

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President's Jobs Proposal Includes Harkin-led Efforts to Fund Education Jobs/School Construction

WASHINGTON, D.C. - Senator Tom Harkin (D-IA) tonight issued the following statement after President Obama addressed Congress on the need to put America back to work.  Harkin is Chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee and the Appropriations subcommittee that funds education and labor initiatives.  He has fought to prevent massive layoffs of American teachers and is leading the effort in Congress to rebuild the middle class in America.

"Traveling in Iowa this summer it was abundantly clear that the number one issue impacting Americans is not the budget deficit, but a far more urgent deficit: the jobs deficit.  By all means, we need to agree on necessary spending cuts and tax increases to bring deficits under control in the longer term.  But in the short term, we need a robust federal agenda to boost the economy and create jobs.

"I am encouraged that the President's proposal goes to the heart of that effort by investing in the jobs that sustain a strong middle class.  In particular, new funding he proposed for educator jobs will keep teachers in the classrooms.  This echoes a bill that I pushed through Congress last year to provide $10 billion to keep teachers on the job in the face of deep cuts to state budgets.

"The President's call to renovate our schools is a win-win for our economy and for our children.  Kids cannot be expected to reach their full potential if the school they attend is crumbling around them.  And my experience in Iowa in providing funding to renovate our schools shows that every dollar in federal funds that is provided for school construction leverages an additional four dollars in funding from other sources, creating jobs and economic growth.

"And I was pleased to see he proposed ramping up federal investments in infrastructure to boost U.S. competitiveness and create construction jobs.  As the American Society of Civil Engineers estimates, America faces a $2.2 trillion infrastructure backlog and they are correct to say that "we are still driving on Eisenhower's roads and sending our kids to Roosevelt's schools."  His proposal also offers assistance so that the long-term unemployed can support their families while they continue to look for work.

"As we move forward, we must also address the fact that two-thirds of adults with disabilities are not working. In the HELP Committee, I intend to continue to hold hearings on the best way to address this issue.

"Now that this proposal has been unveiled, I encourage the President to use the bully pulpit and fight to get it passed.  Where necessary, draw a sharp contrast to those who offer only obstruction and do-nothingism.  It's time to break up the gridlock in Washington and put America back to work.  The future of our middle class - and our economy - depends on it."

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