Rauner to sign order for privately-run state economic agency

Updated 2/3/2016 9:57 AM

CHICAGO -- Gov. Bruce Rauner is expected to use his executive powers to sign an order to create a privately run and funded state economic development agency.

The Republican's public schedule says he plans to sign an order Wednesday formalizing the Illinois Business and Economic Development Corporation. Rauner says it will help create jobs.


The former businessman has pushed the idea since taking office. He announced in his State of the State address last week that he'd taken the first steps to bring "economic development efforts into the 21st century."

Rauner says the Illinois Department of Commerce and Economic Opportunity is hampered by bureaucracy that makes business development and job recruiting more difficult.

Legislative efforts at privatizing DCEO have stalled in the Democrat-controlled Legislature with questions about public accountability of public resources.

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