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AS UNEMPLOYMENT
RATES CONTINUE TO FALL ACROSS ILLINOIS,
GOV. BLAGOJEVICH SAYS SEVERAL KEY
LEGISLATIVE INITIATIVES WILL
DRAMATICALLY ENHANCE THE STATE'S
BUSINESS CLIMATE AND SPARK EVEN MORE
ECONOMIC GROWTH
CHICAGO - With additional evidence
released today illustrating Illinois'
expanding economy, Gov. Rod R.
Blagojevich says several key legislative
initiatives will make the state's
business climate even more attractive to
companies looking to expand or to
relocate and spark more growth. The
Illinois Department of Employment
Security (IDES) announced today that in
May unemployment rates fell from
previous year levels in all 12
metropolitan areas. This was the fifth
month in a row in which unemployment
rates were down in at least 10 of the
metro areas. Danville, Rockford and
Decatur metro areas all posted
unemployment rate declines greater than
one percentage point. Earlier this
month, IDES also announced that the
state has experienced a rate of job
growth that exceeds the nation's rate of
growth for the third consecutive month.
This is the first time this has happened
in nearly eight years. The IDES
statistics also show that, through the
past three months, nearly 40,000 new
jobs have been created.
"There is nothing more important than
making sure we are doing everything
possible to spur economic growth and to
create more jobs for working families
across Illinois. For the past several
years, we have been making strategic
investments in job training,
infrastructure and entrepreneurship that
are making this a reality. But more good
news is on the way for our business
community. We are fundamentally
reforming everything from our workers'
compensation system to medical
malpractice, which is sending a strong
message to companies across the state,
throughout the country and around the
globe that Illinois is the right place
to launch and grow a business," Gov.
Blagojevich said.
As part of his ongoing efforts to ensure
Illinois is responding to the needs and
priorities of the state's business
community, Gov. Blagojevich will sign a
number of pieces of legislation to
improve the business climate. He has
also launched a series of innovative
efforts to make Illinois even more
competitive on the national and
international stage:
Comprehensive Workers' Compensation
Reform: Gov. Blagojevich led the process
to fundamentally change the workers'
compensation system for the first time
in almost 20 years. The Governor,
business and labor leaders and members
of the General Assembly worked together
in an agreed bill process (House Bill
2137) that led to the dramatic changes
that will reduce business costs,
increase benefits and fight the fraud
that hurts everybody. Illinois is the
19th most expensive state in the nation
when it comes to workers' compensation
premiums, and Illinois companies pay 40
percent more for workers compensation
than neighboring states Michigan,
Wisconsin and Indiana.
Medical Malpractice Reform: Gov.
Blagojevich will sign major medical
malpractice reform legislation (Senate
Bill 475), which will reduce the cost of
insurance premiums for doctors and stop
doctors from leaving the state. Gov.
Blagojevich helped pass the legislation
despite his personal opposition to caps
because ensuring that doctors stay in
Illinois and practice medicine in
Illinois is a fundamental part of making
sure that patients have access to good
health care, which is also a critical
concern for the business community.
Attracting Even More International
Businesses to Illinois: Gov. Blagojevich
will sign legislation (House Bill 4053)
creating the Illinois Global Partnership
(IGP), a not-for-profit corporation that
will build on the state's successful
efforts at spurring international
economic development and creating more
jobs throughout Illinois. The
international market is a critical and
growing sector of Illinois' economy. The
state ranks seventh in the nation in
total exports, with Illinois
experiencing a 14 percent increase in
2004, a growth rate that surpasses the
national average. Illinois was also
ranked fourth in the nation at
attracting foreign investment in a study
by the Organization for International
Investment released in October 2004.
This investment has created almost
300,000 Illinois jobs, a nearly 39
percent increase over the last 5 years.
Creating the Nation's First
Comprehensive Economic Development
Strategy Focused on the Homeland
Security Industry: Following Gov.
Blagojevich's call to grow this emerging
sector in Illinois, the Department of
Commerce and Economic Opportunity has
opened the Bureau of Homeland Security
Market Development to attract and
support businesses engaged in this
critical industry. The bureau offers a
variety of investment tools to attract
businesses to Illinois and help existing
Illinois companies expand operations.
Log on to
www.hsmd.illinois.gov for more
information.
First State to Develop a Statewide Small
Business Health Insurance Pool and
Program: Gov. Blagojevich and the
Chicagoland Chamber of Commerce are
developing a small business health
insurance program that will help small
businesses reduce their costs by 10 to
15 percent and provide more health care
coverage for their employees. Illinois
will be the first state to create a pool
where businesses of 50 employees or less
can join, saving money on the negotiated
rate, administrative costs and broker
fees.
Launching a One-Stop Online Business
Portal: Gov. Blagojevich is making it
easier for businesses that interact with
the state to get all the forms and
information they need at one location.
Previously, businesses had to comb
through numerous state agencies' Web
sites or visit multiple offices to
comply with requirements and
regulations. Businesses can log on to
www.business.Illinois.gov to
find the information they need from
state government all in one place. The
Web site provides information to
business owners at all stages of their
business' development: from starting a
new business, to maintaining an existing
business, to changing a business. The
site allows businessmen and women to get
their questions answered, download
forms, licenses and permits, and locate
information about different programs and
services available to them. More than
103,000 people have visited the Web
site.
Regulatory Reform Initiative: In
February, Gov. Blagojevich launched an
initiative to reduce the regulatory
burden on businesses in Illinois. The
Governor is working to identify and
implement reforms that can reduce costs
and save time for businesses across the
state. While certain regulations may be
necessary to protect the public health
or safety or the environment, there are
more rules on the books than are
actually necessary. This effort is
identifying forms, paperwork, processes
and procedures that are cumbersome to
the business community; reforming overly
burdensome regulations that do not
require legislative approval in the
short term; and preparing a legislative
package for regulatory reform for next
spring's legislative session.
For more information on Illinois' labor
statistics, visit
www.ides.state.il.us.
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