Reverse Trade Mission to Elgin Will Open New Doors for Global Investment Opportunities 

CHICAGO – In an important move to strategically expand foreign direct investment and open new markets abroad, Gov. Rod R. Blagojevich’s Opportunity Returns team today escorted a delegation of Chicago-based, foreign trade commissioners representing 20 countries to Elgin.  Sponsored by the Illinois Department of Commerce and Economic Opportunity’s (DCEO) Office of Trade and Investment and the Elgin Area Chamber of Commerce, the reverse foreign trade works to connect Illinois’ world-class, strategic locations to Chicago’s foreign trade offices to increase investment and maximize exports from the region.  DCEO Assistant Director Roxanne Nava formally addressed the trade commissioners at a noon luncheon at Elgin Community College.

“Elgin and the surrounding area have the essential resources, workforce and rich quality of life that are in demand across the globe.  Attracting new investments, creating new jobs and connecting our communities to the world are vital in our efforts to take advantage of all of the Northeast region’s strategic assets.  This reverse trade mission will allow us to demonstrate Elgin’s tremendous viability as an international business partner and as a driving force in economic growth both here and abroad,” Gov. Blagojevich said.

The trade commissioners’ full day program began with a welcome breakfast at Elgin Community College, which included Elgin Mayor Edward Schock and Elgin Community College President Dr. David Sam.  Following the breakfast was a networking trade show where commissioners met with Elgin-area businesses to learn about their innovative products.  A luncheon at Elgin Community College featured a gourmet menu prepared by ECC’s Culinary Arts Department, and included local elected officials, economic development and labor leaders, as well as other community and business representatives.  

In the afternoon, trade commissioners visited some of the region’s top companies, including DSM DesoTech, a world leader in developing high performance UV-curable coatings and rapid prototyping resins, and Fabric Images, a creator and manufacturer of printed tension fabric displays, architectures and decorative forms used in multiple arenas from retail to museums.  The day concluded with a reception at the Grand Victoria Casino.  Event co-sponsors included: the City of Elgin, Illinois Association of Realtors, AMCORE, Lee & Associates, Grand Victoria Casino, Elgin Community College, Fast Signs and the Elgin Symphony Orchestra.

The countries represented by the delegation of foreign trade commissioners included: Austria, Belgium, Bosnia and Herzegovina, Canada, Chile, China, India, the Netherlands, Pakistan, the Philippines, Poland, Romania, Serbia, Spain, Switzerland, Taiwan, Thailand, Turkey, Ukraine and Wales.

“Gov. Blagojevich and I believe we must continue to think globally if we are going to continue attracting more companies and jobs to all parts of the Northeast region.  This reverse trade mission is another important step in highlighting all that the Elgin area has to offer,” State Senator Michael Noland (D-Elgin) said.

 “I appreciate the Governor’s efforts to build bridges between Elgin and international businesses.  The networks that will be built will pay important dividends for many years to come with more jobs, more businesses and more opportunities,” Elgin Mayor Edward Schock said.

Elgin marks the latest in a series of successful reverse trade missions across the state.  Delegations of foreign trade commissioners have visited Rockford, the Quad Cities, Peoria, Bloomington, Carbondale, Springfield, Decatur and Champaign.

Illinois reported more than $42 billion in exports in 2006, a 17.3 percent increase from 2005, the largest dollar figure increase in a single year, according to WISER, the World Institute for Strategic Economic Research, who compiles its information from the US Census Bureau, Foreign Trade Division.  Since 2002, Illinois exports have grown by $16.4 billion, a 64 percent increase.  Illinois is also now the fifth largest exporting state in the country, which is its highest ranking ever.  Illinois also currently ranks fifth in the nation in foreign direct investment, which has created nearly 236,000 Illinois jobs and represents nearly 5 percent of the state’s private-sector workforce, according to the Organization for International Investment.

“This reverse foreign trade mission is another example of Gov. Blagojevich’s vision to fully capitalize on the entire Northeast region’s economic strengths.  By bringing this international delegation to Elgin, we are laying the foundation for a stronger, more diverse economy that will take advantage of the many international opportunities, which will help put more people to work here at home,” said DCEO Director Jack Lavin.

Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history.  Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges.  Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses.  It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs.  Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.