Company Will Create and Retain 560 Jobs in Tinley Park and Orland Park
CHICAGO – Gov. Rod R. Blagojevich today announced more than $13.4 million in Opportunity Returns support to Panduit Corp., a global leader in innovative network and electrical solutions, to help the company relocate its global headquarters to a new location in Tinley Park. The company, which is making a capital investment of $39.4 million, will also keep its research and development operations at an existing facility in Orland Park. The company’s headquarters move will create 55 new jobs, with a total of 505 retained jobs at the new headquarters and research and development facility. This support comes as a part of Opportunity Returns, the Governor’s comprehensive economic development strategy to create better jobs and spur even more growth throughout the state.
“We are very excited to be working together with Panduit Corp., a prime example of a successful company which needed new resources to accommodate its expanding business and to boost its competitiveness. By investing in companies that are investing in Illinois, we are creating a stronger business climate where innovative companies like Panduit can easily expand and create better jobs for more people,” Gov. Blagojevich said.
Panduit Corp. is a global company with a network of manufacturing, marketing and sales affiliates in 33 countries, covering every region of the world. Established in 1955, Panduit manufactures specification grade electrical and communication products, which are primarily sold through distribution. Business growth and inefficiencies of the existing headquarter facility in Tinley Park motivated Panduit’s search for a new headquarters. The new headquarters includes a 5-story 250,000 square foot facility, in a campus environment, encompassing a 52-acre site along I-80 on the east side of 80th Avenue in Will County. The site will allow for future expansion to accommodate an additional 1,200 staff. Panduit intends to achieve Leadership in Energy and Environmental Design (LEED) Gold certification for the headquarter facility, making it the second such building in Illinois.
“We are pleased to be able to keep our global headquarters right where we started in Tinley Park and look forward to continue expanding our presence here in Illinois and across the globe. I want to thank Gov. Blagojevich for this support,” said John Caveney, CEO.
The Illinois Department of Commerce and Economic Opportunity will administer the business investment package. It includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over the next ten years based on job creation and retention.
“We are thrilled to see Panduit Corp. expanding in the region, which will continue to take advantage of the many competitive strengths that exist here in southern Cook and Will counties. By giving companies like Panduit the tools they need to succeed, Gov. Blagojevich and I are helping to create good jobs and promote investment in our communities for today and tomorrow,” said State Sen. Maggie Crotty (D-Oak Forest).
“By creating a pro-growth business environment, Gov. Blagojevich is helping companies like Panduit Corp. expand and create more good jobs. We are very pleased to have the company’s global headquarters right here in Tinley Park and look forward to Panduit’s continued growth for many years to come,” said State Rep. Kevin McCarthy (D-Orland Park).
“To continue developing a strong regional economy, Gov. Blagojevich is committed to making the right kinds of localized investments in our expanding companies that lead to more good jobs. This investment package for Panduit Corp. is doing just that, and we look forward to its growth with this new, state-of-the-art headquarter campus,” DCEO Director Jack Lavin said.
For more than 50 years, Panduit has engineered and manufactured end-to-end solutions that assist its customers in the deployment of the latest technologies. Global expertise and strong industry relationships make Panduit a valuable and trusted partner dedicated to delivering technology-driven solutions and unmatched service. Through its commitment to innovation, quality and service, Panduit creates competitive advantages to earn customer preference.
Since January 2004, Illinois has gained more than 184,000 jobs, which is best in the Midwest. Illinois employers reported a gain of nearly 47,000 new jobs in the last year (August 2007 compared to August 2006) and Illinois led the nation in new job growth in January with 19,100 new jobs and in June of this year with 12,400 new jobs. In 2006, Illinois gained 71,000 new jobs, which is the best calendar year gain since 2000. The federal Bureau of Labor Statistics and the Illinois Department of Employment Security compiled these statistics.
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.