Illinois Gov. Pat Quinn this week unveiled plans aimed at spurring jobs that include increasing access to start-up capital and expanding job training programs.
Quinn outlined the "Illinois Economic Recovery Plan: Jobs for Today and Tomorrow" in an address to the City Club of Chicago on Monday.
As part of the plan, he signed a bill that provides tax credits for the auto industry, allowing employers to retain income taxes withheld from employees as an alternative to a current corporate tax credit.
Quinn also wants to increase capital access for small businesses and incubator companies by expanding investment tax credits, venture capital funding, and the state's Entrepreneur in Residence program. He also would authorize more new small business loan guarantees and expand job training programs.
Some of the assistance would be administered by the Illinois Finance Authority. Quinn late last week named four new members to the IFA, the state's top conduit issuer. They include Roderick S. Bashir, a vice president and director of human resources for the Service Employees International Union, Local 1 in Chicago; John E. Durburg, an executive managing director at CB Richard Ellis Inc.; Joseph McInerney, chief executive officer of Banner Capital Corp.; and Roger E. Poole, a retired top official from the Machinists District No. 9.
The IFA board earlier this month hired a new executive director — the agency's general counsel and deputy director, Christopher Meister, who was recommended for the post by Quinn's office.