Illinois tech community ready to greet state boost
Much has been written about the effects of Illinois' $31 billion capital improvement program on roads, schools and parks, but the state's technology industry also is applauding this week a pending boost of about $300 million.
Signed into law earlier this week, the law includes significant investments in technology, research and development as well as the environment, health care and education.
"This is the first time in 10 years that we have had a capital bill," said Ed Longanecker, executive director/regional director of state government affairs for Oakbrook Terrace-based TechAmerica Midwest, which has 1,600 corporate members.
This bill is historic in itself, not to mention the billions of tech funding in the federal stimulus package, he said.
The state funding is part of a larger program under a plan to create and retain 439,000 jobs over the next six years across many industries.
The capital bill and other funds will significantly boost Illinois' research-and-development capabilities, the launch of broadband infrastructure and new technology throughout the state, experts said.
Funding for health care IT initiatives, such as expanding the use of electronic medical records, will stimulate the health care system. Expanded broadband Internet access to rural areas and inner cities will open opportunities for business growth and personal convenience for more residents. Incentives for so-called "clean tech" manufacturing will help plants retool and retrain workers to produce clean energy and energy-efficient components and products, the experts said.
Education programs, they added, could entice more students to pursue careers in the sciences and technology. And retraining initiatives to help workers displaced from jobs in other industries could start new careers in high-growth areas, like high-tech, said Todd Thibodeaux, president and CEO of Oakbrook Terrace-based Computing Technology Industry Association.
"Information technology is playing a critical role in the economic recovery in Illinois and across the country," said Thibodeaux.
Projects include about $60 million for the Petascale supercomputing center at the University of Illinois at Urbana-Champaign, about $7 million for Argonne National Laboratories for an advanced protein crystallization facility and about $5 million for Northwestern University to support a new science and technology research facility.
Then there's about $10 million earmarked for electric car manufacturing and transportation, about $15 million for grants and loans to emerging technologies, about $50 million for broadband improvements, including health IT and telemedicine, and nearly $100 million for research-and-development facilities and projects at universities and federal laboratories in Illinois.
TechAmerica Midwest has provided a number of possible projects to support companies in the suburbs and Chicago, and this is only the beginning of the funding process.
"No companies have been given any money and nothing is final yet. This will be a multiyear process and will indeed provide a significant boost to the Illinois economy," said Longanecker.