|
Executive Summary |
Actionable Insights : How this resource
can be valuable to executives |
For More Information :
Contact |
|
Business News Highlights
See more "news you can use" below
to become familiar with significant recent developments in the state, with a
special focus on direct investment activity (new projects, expansions, and
other changes).
Unlike the traditional daily or monthly "news" focus of
publishers, this section can demonstrate the longer-term pattern of major
business developments in an area, and link out to details as appropriate. |
- This is a reverse chronological list
highlighting a few major developments which seem likely to be of interest
to executives and advisors who refer to this page.
- This would usually highlight 5-10 recent or
very significant news items
- Additional listings would be available below,
either as part of the content which highlights a specific community or
project announcement, or as part of the selective reverse chronological
list of news items of likely interest to visitors.
- News can also include major layoffs,
relocations, and closures - because these sometimes highlight timely
opportunities for other companies which would value the skills of the
available workers, or unique facilities and infrastructure.
- The content is not intended to be promotional
hype as though everyplace was "business heaven" for every business, with
no negatives at all. After all, what some perceive to be negative
may be perceived by others as an opportunity.
|
Local or
other business media sources
News items would link to open sources for additional
details, or to a longer synopsis of the key points below, or other content.
For example, a project announcement might link to a more detailed Project
Profile than just the usual press release or news media coverage. When
possible, it may also identify professional service providers which were
used by the investor, because this may be helpful to others. |
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Business
Events Schedule
|
This can
highlight how to meet participating state and local representatives at
upcoming trade shows or special events, so that visitors to this page know
where they can meet local contacts soon, and how to reach them in advance to
arrange meetings. This also serves to
highlight the business "targeting" focus of the region at a glance. |
Specific
contacts for such events, such as to schedule appointments
Our "Event Recall" service can also highlight past
participation in events, which may interest executives who were unaware of
this local interest in their industry. |
|
Illinois Business Investment
Climate |
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| Tort reform,
as trial lawyers shop around the country for favorable court venues to bring
lawsuits, is an issue which is certainly not limited to Illinois.
Although reform is needed, the premise of ILR that this is
driving business away from Illinois is not well proven, except perhaps for
the obvious case of medical professionals who face high liability insurance
costs in Illinois.
We think their case is overstated in terms of the impact
on capital investment project location decisions by major corporations.
Instead, it is really a nationwide problem. |
"Illinois -
Land of Lawsuits", as opposed to the traditional "Land of Lincoln", is the
theme of the clever recent radio and print advertising campaign and website
of the Illinois Campaign for Legal Reform, which has the support of the
Illinois Chamber of Commerce as a project of the U.S. Chamber Institute for
Legal Reform (ILR). Their basic premise is that the
"high cost of lawsuit abuse" is not only harming citizens by driving up
insurance and other costs and driving doctors away from the state, but that
this will also drive other types of business away. They cite a Harris
Interactive State Liability Systems Ranking Study which interviewed a large
sample of corporate general counsels across the country and then ranked
states by their responses.
Capital investment project decisions, however, take far
more factors into consideration than just the opinion of general counsels
about the civil liability environment of a state. By the very premise
of alleged "court shopping" by trial lawyers, the choice of business
location by major companies does not necessarily afford protection against
such business risks, unless perhaps the company chooses to locate operations
outside of the United States. Even so, if doing business in the USA or
Illinois, there is no easy way to avoid such risks and costs. |
www.landoflawsuits.com
Harris poll of general counsels (PDF)
www.ilchamber.org
www.instituteforlegalreform.com |
| National
level business perspective |
From a
national perspective, as in the case of foreign investors who could choose
to set up operations anywhere in the country, what differentiates this
region or state? Typically, this will differ by industry or other
topics because of their relative strengths and weaknesses, as well as their
priorities and commitments for the attraction and support of business
investments. |
External
website links and contact details for the indicated area representative or
service provider, or for more background information on the topic |
| Regional
perspective (multi-state) |
How does
this region relate to others in the country? Competitive pros / cons?
Unique points? What differentiates this region as a whole from other
regions in a material way? |
We can also
link to more detailed reports about the region, as appropriate, such as
analysis shared by professional advisors. |
| State level
business perspective
linked image of a full page display ad |
The key is
to highlight what differentiates this area within the region for potential investors.
Why should executives take a closer look at this region, and then this state
in particular and specific areas
within it, for their investment projects? This can also
include links to more detailed interviews with key officials, or published
articles about their positions on key topics of interest to potential
investors and their advisors. |
We can also
provide thumbnail image links to current display advertising, which can help
to reinforce the impact of such campaigns, as in our
GUIDE Ad Recall
service.
Contact us to discuss how this works.
linked image of a 1/2 page display ad
similar thumbnail images can be used to highlight smaller
display ads or other types of promotional materials |
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State and Local Taxes |
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(April 2005) Potential and current investors in Illinois
should be aware that legislation is in progress which would significantly
raise both personal and corporate income taxes from 3% to 5% (House Bill
#750 and Senate Bill #02). There are also large unfunded state pension
liabilities and other needs (not unique to Illinois, of course), so any
current "balanced" budget or "surplus" in any state may not be indicative of
future results. This potential $7 billion tax
increase is being sold on the promise of a 20% property tax abatement, but
such local taxes are also large and rising in general. Since these are
major tax changes, location consultants and tax advisors should factor
consideration of this risk into any analysis, along with similar "due
diligence" consideration of whether the current tax rates in other locations
under consideration are really sustainable.
This specific proposal may not succeed, but the basic
problem won't just go away.
Many states have faced budget problems in recent years,
and as the economy recovers, Illinois will probably not be alone in trying
to raise taxes significantly, so a simple analysis of current tax rates
won't reflect the risk of growing tax burdens which may rise differently in
various jurisdictions. Of course, low tax areas can also have burdens
in terms of lower quality of schools, government services, infrastructure
investments, etc.
The shift of taxes between the state and local
jurisdictions, as well as the multistate apportionment of state taxes, can
complicate reliable tax burden location analysis. Companies often
negotiate local tax abatements or benefit from special enterprise zones
where local taxes are already lower as tax incentives, but the above
proposal would raise state income taxes while effectively reducing the value
of such local tax abatement benefits. Over time, by the state simply
reducing the proposed local property tax abatement, the net effect could be
a large tax increase. |
Note that when
referring to tax authority websites for any state, they will typically
describe only the current laws and rates in effect, rather than any
prospective changes which may or may not become law.
Websites for news media or business publications in a state
or city are more likely to mention prospective changes, but the websites of
corporate tax specialists may offer more useful information.
There are also business associations and taxpayer advocacy
groups which can highlight the debate over prospective tax changes, and the
potential impact. Their partisan lobbying efforts can be informative,
but not unbiased or objective analysis.
In general, if tax differentials are a major factor in a
business location decision, a tax specialist should be consulted since valid
comparisons are quite complex. |
| Business
tax and legal information and support resources |
This could
link to a more detailed Tax Profile about local tax considerations,
preferably provided by a tax professional experienced in multi-state tax
planning and compliance. It can also make it easier to find the most
relevant and helpful information through links to specific state and local
government website content or other sources. |
This can
introduce specific professional tax and legal advisors who are experienced
at supporting new investors in the area - whether based locally or
elsewhere. |
| Project
finance and business incentives |
This could
link to a more detailed list of resources and an Incentives Profile |
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State, County and City contacts |
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- Jacksonville area, Morgan County and Scott
County, west central
Illinois
- City of Flora, Illinois - in Clay County,
southern Illinois
-
- city or county
economic development
- professional service providers
GUIDE Area Surveys, Area Profiles, and Service Profiles
would be highlighted here for quick reference, with a brief summary of the
key points in the following section. |
|
| County or
City level business perspective - identify the area clearly, and why it may
be of interest to executives - value proposition, target industries or types
of projects, etc.
|
This
section functions as a brief article, such as a few paragraphs to highlight
the key points. The reader can easily link to more detailed GUIDE
content (Area Profiles, etc.) and the relevant pages of the area's own
website or other resources for additional details. The basic function
of this section is to arouse interest in learning more about the area, and
to make it fast and easy to act on such interest. |
This can
include information about upcoming events at which executives can meet the
local area representatives (trade shows, etc.), as shown in our
GUIDE Event
Recall service.
|
| There would
typically be multiple county or city reports for a state, identified so that
they are easy to recognize at a glance |
We
already provide state and regional "long list" contact directories separate
from this page for those who want to research any locations or services
which are not featured here. This section should highlight why a
particular area may be of special interest, and then link to other content
with further details, both on this site and elsewhere. |
In addition
to the usual website link and contact name, phone, fax and optional email
address, we can also link directly to special sections of a website, such as
to a list of companies in the area, available properties, press releases,
etc. |
|
Commercial Real Estate (CRE) |
Directories
: Illinois
and US or
global corporate and commercial real estate firms |
Research -
Real Estate Listings
Google site search
tool for listing services |
| GUIDE
Service Profiles for Illinois CRE logo link
with permission |
Highlights
about the service provider |
Contact details |
| CRE
property listings and developments such as major industrial parks and
offices
Example - thumbnail image linked to a more detailed
description or
site plan |
This would
be used to highlight current listings, with links to further details in our
Real Estate section or on
other websites where the property information is openly available |
linked image of a full page
property description - such as a PDF file to be downloaded
for more details |
|
Other professional services |
Directory :
Illinois and
US Great
Lakes Region professional service providers |
|
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Professional service profile |
Similar
function to the above highlights from recent news and Area Profiles, but linking to
GUIDE Service Profiles or
other relevant content for more details.
What does this service provider do which delivers high value to potential
investors in this area? Are the services local, regional, or tied to
similar capabilities in other states or countries too?
Examples may include :
- Specialists in site selection and incentives
negotiations
- Corporate real estate professionals
- Architects, engineers, project management, and
construction firms
- Specialists in physical relocation of offices
and manufacturing equipment
- Specialists in HR issues - executive
recruitment, employee compensation and benefits costs, relocation,
employee recruitment and training, etc.
- Specialists in project finance, banking, M&A
deals, venture capital, IPO's
|
Example - old engineering & construction firm
capabilities brochure; could link to the relevant website content or make it
easy to download a PDF version of a brochure or other marketing materials. |
|
Consultant Tips and Comments |
See also :
Consultant Tips
and Comments in general related to our work |
Location and
Incentives
Consultants |
| Consultant
tips |
Highlight
key project issues on which experts in the area have shared significant
insights. This can include helpful suggestions and comments about
pitfalls or misperceptions. |
This can
also link to published articles, as in the
Consultant Tips
section
Example of an old 1/2 pg market test ad |
|
Business Associations and Clusters |
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| Business
clusters and special interest networking groups or local industry
associations and chambers of commerce |
This may be
helpful to learn more about relevant business activity in the area.
Some executives may prefer to talk to their business peers about their
experience in the area before seriously considering any major investment
commitments there. |
|
| Awards and
rankings
Example from 2004 award program |
Noteworthy
awards and rankings of the area as a place to do business can be highlighted
with links to the source of additional details.
We would not generally highlight the many survey lists or ranking features
which are routinely used by magazine publishers to stimulate their monthly
advertising sales.
The content should be of actionable relevance to future
project plans by providing significant insights into the comparative
advantages of the location for particular types of business projects.
We have less interest in those which are simply an opinion poll or a
rank-order list based upon very superficial selection criteria or general
perceptions and opinions, which are of little relevance to serious location
choices for major projects. |
For
examples, refer to our
Awards
list, such as the
CoreNet Economic Development Leadership and Accomplishment Awards which
we sponsored in 2003 and 2004
Example of a simple 120x60 button link |
|
Selective Project Announcements |
Highlights
among recent
project announcements in Illinois |
|
| may link to
major press releases as published on the relevant websites of the economic
development organizations, companies, or service providers involved |
|
Link here
to official state list of project announcements, if available, and/or to a
news section for recent press releases
|
| Recent
investment activity or testimonials by recent or
existing investors |
Generally
tied to the area or service content above, but listed separately so that it
is easy to find such information and additional details or contacts at a
glance This would elaborate beyond the basic
parameters from project announcements, as found in our GUIDE Projects list
by region and industry. For example, what drove the choice? What
were the critical factors which favored the chosen location over the
alternatives? This is just intended to highlight the key issues.
More details can be linked as a Project Profile. |
Recent
entries would usually move to the top of each topic section, in reverse
chronological order, on the simple assumption that recent developments are
more likely to be of interest, but that all related content should be
grouped together in a logical way. |
|
Post-investment business support |
This could
include such things as significant business retention and expansion programs
(which may also interest potential new investors as an indicator of the
local commitment to business support relationships after an investment is
made) |
|
|
Human Resources |
See also :
US and global HR services
and Research
sources |
Illinois HR
resources |
| Published
local labor market analysis studies by independent consultants |
An example
would the research performed by
Pathfinders US
or location consultants to document local labor market considerations in
more detail than general statistics |
Source of
the study, and sponsor |
| Labor
market insights, resource |
Generally
tied to specific local rather than state-wide area content above, since
information at the state level is generally not very actionable for
comparisons of business locations. An example
would be timely local research among companies about their actual
recruitment, training, and employee performance or turnover experiences, or
content which highlights special programs of potential value to investors in
the area (local or statewide). |
Content
would generally be dated to indicate when it was last updated. |
|
Location comparison data and costs |
See also :
Research, Data
Pointers, Quick Reference links, and GIS map tools |
Business Location
Consultants |
| Data
sources, GIS data mapping tools, etc. |
Highlight
how to find more reliable, actionable information about the area, including
independent third party sources in particular (rather than just promotional
data analysis) |
|
| Logistics,
utility, infrastructure issues |
generally
tied to examples, unique service capabilities and sources for details, cost
info |
|
| Comparative
cost information |
generally
tied to testimonials and actual company experience rather than raw data or
analysis |
|
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Promotional and Networking Events |
|
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| Trade
promotion programs, activities, special events and trade missions |
This may
interest potential investors as an indicator of the level of global business
activity and support services within the area. |
|
|
Familiarization events |
If an area
invests in special events, such as to host professional service providers,
then it can be helpful to make others aware of this, even if it is an
invitation-only event. |
|
| Industry
events and local business networking events or resources |
This can
highlight local events (conventions in the area, local business associations
and special business events of likely interest to potential investors, etc.) Potential
investors may learn about the area while visiting on other business, or may
want to develop local business contacts independently of local economic
development contacts as part of their "due diligence" research before making
a major commitment. This section can make it easier for them to be
aware of significant events in the area. |
|
| Joint
venture development and business matchmaking or partnering services |
For
example, some areas may choose to participate in services such at the
InterTech
Global Alliance developed by our colleague in England, including the
periodic InterTech networking events and the ongoing Partners4Technology
matchmaking service. Some areas already host
special business networking events of potential interest to new investors,
or may participate in such programs at industry trade association events or
co-sponsor special events organized by business media, event specialists,
etc. |
 |
|
Residential Real Estate Market - IL |
US Great Lakes
Region and
Illinois residential real estate resources |
|
| Residential
housing developments |
New single
family home developments, major residential real estate firms, and
multi-family housing developers or projects (major apartment buildings,
condos, etc.). These can be useful indicators of such things as the
actual cost of living in the area, growing places where many new homes are being built,
and the websites of the firms involved may often link to useful community
information or services related to employee relocation. |
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|
Retail Market Analysis - Illinois |
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| Independent
market studies available on request or published about the area |
Although
the retail market is not our focus in general, information about the retail
market in an area may be of interest to other potential investors as well,
since such reports may provide detailed analysis of communities and local
business and economic trends. |
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THE SHORTLIST
BUSINESS NEWS |
Summary : Why this news may interest
potential investors in the area |
For More Information :
Contact |
| The Chicago
Tribune |
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| The Chicago
Sun-Times |
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| Crain's
Chicago Business |
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| Suggested
sources in the area |
This can
highlight leading local business news media, so that it is easier for
executives and advisors to check for recent developments beyond those we may
highlight here |
|
| Headline,
date, and location |
This
section would be a reverse chronology summarizing major news which is
regarded to be of likely interest to business executives and their advisors
when considering the state and local areas as a place to do business. |
Source -
link for more details about the news, and provide relevant local contacts as
appropriate (as in a press release). |
| |
A few of
the most recent and significant stories would be
highlighted above. |
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| |
This list
should remain relatively brief - such as a few dozen entries over time to
provide a quick sense at a glance of the nature of recent business
developments in the area. It is intended to be a resource to scan
briefly for the highlights - not to read all the related articles in detail
unless there is clearly relevance to specific project interests. |
|
| |
This
section can easily highlight and link to more detailed sources of local
business news for those who want to check a more comprehensive source.
This can include both independent business news media and the promotional
lists of press releases and news clippings which are often maintained by
EDO's and service providers on their sites. |
|
| |
Once again,
the "news" content of this section would focus on developments which are
deemed to be of potential interest to prospective investors and their
advisors, rather than a more general business audience like the regular news
media. For example, in this specialized niche
a significant new industrial park or office complex development might be of
interest, even though traditional business news media might have little
interest in that as a story for their own target audience. |
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Economic Development Magazines |
These are free
magazines, funded by advertising from economic development organizations.
The content is frequently advertorial in nature to help promote such areas
in return for advertising commitments, even if the content is independently
written and edited, with some other research work, and may not identified
directly as advertising. |
Research -
Development Magazines
Google site search tool to find articles |
| Expansion
Management
|
Expansion Management - Published by Penton Media (Industry Week,
etc.) this is another well-respected source of annual review feature
articles about regions and states as well as industry sectors and business
location selection issues. Their reader service process distributes
information requests to current advertisers. |
www.expansionmanagement.com
www.eminfo.org
|
Area
Development
- Direct links to archived articles are not viable
because of their website design. Use the links at right.
|
Area Development - publishes annual review features for regions and
states as well as industry sectors and business location selection issues.
Many communities also list available sites and industrial buildings or
offices through their FastFacility advertising website, or integrate this
listing service into their own promotional websites in a manner similar to
CoStar, LocationOne, or other commercial real estate marketing services. |
www.area-development.com
www.areadevelopment.com
www.fastfacility.com
www.locationusa.com
|
| Site
Selection |
Site Selection - Published by Conway Data, which also runs an
association for corporate real estate executives - IAMC Industrial Asset
Management Council - this is another leading magazine which publishes annual
review features for regions and states as well as industry sectors and
business location selection issues. Their reader service process
distributes information requests to current advertisers. |
www.siteselection.com
www.sitenet.com
www.conway.com |
| Plants
Sites & Parks |
Plants Sites & Parks magazine ceased publication in November 2004. |
|
| Business
Facilities
|
Business Facilities magazine, promoted as "The Location
Advisor", publishes what are basically annual advertorial
articles about regions and states as well as industry sectors and business
location selection issues. The same publisher also produces a magazine aimed
at facilities managers, and is organizing a new event in 2005. |
www.businessfacilities.com
www.facilitycity.com |
| Business
XPansion Journal |
Business
XPansion Journal - affiliated with various service providers |
www.bxjonline.com |
| GCX -
Global Corporate Xpansion |
GCX -
Global Corporate Xpansion - related to Business XPansion Journal, above |
www.gcx-online.com |
| Business
Development Outlook |
Business
Development Outlook - Their reader service
process distributes information requests to current advertisers. The
articles about states are basically advertorials, but the article content on
their website may not be picked up by search engines and may require
registration to access such content (to reinforce advertising sales).
The publisher also provides other promotional services for their advertisers
as the "World Economic Development Alliance", or WEDA, such as to distribute
their promotional literature at major trade shows as they promote magazine
subscriptions. |
www.wedanet.com
www.bdomag.com
www.bdoinfo.com |
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This page remains under
development. The rest of the page illustrates the expanded content
which will soon become available for reference here. Refer to the
"long list" regional, state, or global professional directories for now.