Illinois Economy

Business and economic news

Federal Report Supports FutureGen

Oct 31, 2013
Bill Wheelhouse/WUIS

A final recommendation is still pending but the U.S. Department of Energy has said in a report that the FutureGen project in Morgan County should go ahead.  
The agency released the final environmental study on Wednesday. It says the clean-coal project should receive $1 billion in federal funding. The State Journal-Register reports (http://bit.ly/17uijEH) a final decision on if the $1.65 billion project should come by the end of the year.  

Archer Daniels Midland is on the lookout for a new home for its world headquarters.  And it's not being limited to the midwest.  The Atlanta Journal-Constitution reports ADM leaders met with Atlanta officials.

ADM has said it won't comment on sites in the running.   Other reports this week has the company looking at Minneapolis.  Chicago and St. Louis have also been mentioned as possibilities.

Incentive Plan To Keep ADM Headquarters In Illinois

Sep 30, 2013
ADM

A proposed incentive package created to persuade Archer Daniels Midland Company to keep its global headquarters in Illinois is sparking debate among lawmakers.  
The proposal would give ADM a 10 percent break on utility taxes for up to 30 years and an income-tax credit. It's expected to be discussed at an Illinois House committee meeting Tuesday.  
ADM announced last week it plans to move its global headquarters out of Decatur.  

ADM To Move Headquarters From Decatur

Sep 23, 2013
ADM

Agribusiness giant Archer Daniel Midland Company says that after 44 years in Decatur, Ill., it is looking for a new location for its headquarters.
 
CEO Patricia Woertz says in a news release Monday that ADM needs what she called a global center with better access to customers and employees around the world. 
The company says it doesn't plan layoffs and will keep a workforce of 4,400 in Decatur, which also will become ADM's North American headquarters.  ADM says the new headquarters would have about 100 employees.
 
ADM is the largest employer in Decatur.

SJ-R.com

The State Journal-Register's Business Editor Tim Landis joins us to talk about the possibility of faster freight trains along Springfield's Third Street corridor and an upcoming corn crop survey in Sangamon County:

SJ-R.com

The State Journal-Register's Tim Landis talks about efforts to expand the downtown Springfield Historic District, a new prototype store for Land of Lincoln Goodwill Industries and a look at agriculture, a year after the drought. 

adm.com

Archer Daniels Midland says its net income fell 22 percent in the second quarter as expenses climbed. 
The agribusiness company also says it more than doubled its provision for a possible settlement of an overseas bribery probe that's being conducted by the
federal government. 

On this week's business report, we get an update on high speed rail work.   $1.45 billion in contracts awarded now in Illinois; mostly for rail upgrades but still a lot of work to get to 110 mph trains on two-thirds of St. Louis-Chicago route in late 2015.
Also, the Outlets at Springfield; A Pennsylvania developer David Ober says construction in Legacy Pointe,just south of Scheels will begin as soon as planners approve the large-scale design.  It could open next year and promises more than 80 stores and 800 to 900 jobs.

SJ-R.com

 The State Journal Register's Tim Landis speaks with Peter Gray about the growing market for e-cigarettes and the hazy regulatory environment those products remain in.  Also, the grocery chain Kroger returns to the Springfield area:

Read the latest business stories in the SJ-R

SJ-R.com

The State Journal Register's Tim Landis talks with Sean Crawford about efforts to get a Schnucks' grocery store on Springfield's east side, a couple of bank mergers in the area and what might be Springfield's oldest fitness center is up for sale.

Read the latest business stories in the SJ-R

Doug Whitley, President of the Illinois Chamber of Commerce, says the state's underfunded pension systems are wreaking havoc in other areas.  He says the growing cost of pension payments is forcing Illinois government to spend less on areas like education and infrastructure. 

SJ-R

Amanda Vinicky talks with Tim Landis, Business Editor for the State Journal Register. We'll talk about Illinois' growing, and spreading, wine industry.  And what to do about high-accident intersections.  That and more in this week's Business Report.

You can read the latest stories Landis is working on daily in the SJR. 

SJ-R.com

A major medical expansion, the retail boom continues in Springfield and we update farmers’ planting progress on this week’s business report with Tim Landis, Business Editor of the State Journal-Register:

ler.illinois.edu

Are government workers underpaid?  Bob Bruno says his research shows in many cases, they are.  He authored a study that found when comparing comparable jobs in the public and private sector, those who work for government, including teachers, get the short shrift.    Bruno is a professor of Labor and Employment Relations at the School of Labor and Employment Relations at the University of Illinois.  

He told WUIS' Sean Crawford the purpose of the study and how he went about the comparisons:

SJ-R

This week, Tim Landis of the State Journal-Register discusses the new use for the Maisenbacher House in Springfield, the city’s first major project tied to consolidation of rail traffic and a survey that shows small businesses play an big role in the area’s economy:

Landmarks Illinois

The Fernwood Mausoleum is more than just the story of a dilapidated building.  It’s a sad result for those who thought that they would spend eternity inside the enclosure located in the Greene County town of Roodhouse.

But the future for the nearly 100 bodies still housed at the mausoleum remains uncertain, nearly a century after it was built.  Costly repairs are needed.  Ray Coons, with the Illinois Valley Cultural Heritage Association, is among those volunteers working to save the site.

  The Central Illinois Foodbank collects grocery items and gives them to charitable organizations in over 20 counties. The foodbank will be moving its Springfield location later this year to a new donated facility. Kaleigh Friend with the foodbank recently joined WUIS’ Rachel Otwell for this interview:

CLICK HERE for more information about the Central Illinois Foodbank.

The survey of employers find many have positive expectations for their own firms, but have a negative overall outlook for the coming year.  Ashley Kirzinger, Director of the UIS Survey Research Office, spoke with us about the findings:

The survey is sponsored by the University of Illinois Springfield's Chancellor's Office, the Center for State Policy and Research at UIS and the Greater Springfield Chamber of Commerce.

“We have to improve – if nothing else – the image of Illinois.” – David Vite, president Illinois Retail Merchants Association

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