The budget the legislature gave the governor to sign is not an exact match for the five-year â€śbudget blueprintâ€ť he asked for.
â€śIf we want to match our priorities and our needs appropriately to the demands that the people of Illinois have clearly stated theyâ€™re interested in,â€ť said Adam Pollet, director of the Illinois Department of Commerce and Economic Opportunity, â€śthen we need to have honest accounting in our budget, and I think this plan is a very good example of honest accounting.â€ť
Polletâ€™s office is releasing the five-year document on the same day Gov. Pat Quinn signed a budget which sees the income tax rate recede to 3.75 percent halfway through the fiscal year.
The legislature also did not come through on one of DCEOâ€™s specific points: a $10 hourly minimum wage.
The governor did veto part of the budget: $250 million in renovations to the Capitol; he also ordered the sale of nine of the stateâ€™s 21 planes.
The DCEO supplies the following highlights of its blueprint:
The six targeted business clusters, selected for their concentrations in different sectors of the state, their growth potential and higher-than-average salaries:
– Advanced materials
– Transportation and logistics
– Information technology and telecommunications
– Machinery and fabricated metal products manufacturing
– Agribusiness, food processing and technology
The five year growth targets:
– Attract 75,000 new jobs to Illinoisâ€”beyond normal growth from in-state employers.
– Within these new jobs, achieve average wage of $57,200, currently 10 percent higher than state average.
– Record 90 percent satisfaction rate with DCEO among regional stakeholdersâ€”a new measure.
– Increase business starts in each region by 10 percent.
– Expand participation in workforce training by 25 percent.
– Increase the percentage of the population with a degree or certificate to 51 percent (currently itâ€™s about one third)
– Create 10,000 new jobs in the areas of highest unemployment.
– Decrease poverty rates to 2009 levels, a reduction of 9.4 percent.
– Launch 360,000 new businesses over the next five years.
– Enable Illinois universities to launch 1,500 startups over the next five years.
– Align growth in patent licensing from Illinois universities with the national rate.