John Atkinson: Illinois is righting the ship for economic development
John Atkinson: Illinois is righting the ship for economic development Chicago Tribune
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Growing Momentum in Illinois: A Report on Sustainable Development Goals
Introduction
Growing tired of the same old doom and gloom from those who make their living disparaging Illinois? So am I. Let’s look at what’s really happening here in our great state.
Rankings and Achievements
- For the 11th year in a row, Site Selection Magazine ranked Chicago-Naperville-Elgin as the No. 1 metro area for new and expanding businesses.
- In 2023, Illinois was ranked No. 2 in the nation for corporate expansions and relocations.
- Illinois ranked No. 1 in the Midwest for new business creation in 2022, according to the U.S. Census Bureau.
Factors Driving Growth
- Illinois moved up in CNBC’s Best States for Business rankings, ranking No. 2 for infrastructure, No. 2 for education, No. 6 in access to capital, and No. 9 in the nation for cost of living.
- Smart and competitive incentives have been created for emerging industries looking to build their business in Illinois.
- On average, a new business relocated to or expanded in Illinois every day in 2023.
Investments in Education and Training
Growth of this speed and scale requires continued investments in equity-centered education and training to ensure our workforce is prepared to step into valuable job opportunities.
- Illinois boasts the third largest community college system in the country, with innovative programs designed to meet the moment.
- Heartland Community College and Southwestern Illinois College are examples of institutions offering specialized training programs for the jobs of the future.
Talent and Workforce Development
Illinois has the talent that companies need right now, and through our early career and higher education system, we’re building that talent for generations to come.
- Illinois is ranked first in the Midwest for workforce development, according to Site Selection in 2023.
- Enrollment in public universities in Illinois has been rising for the third consecutive year.
- Chicago ranks sixth in Axios’ list of most desirable metro areas for college graduates.
Financial Stability and Economic Growth
With manufactured crisis after crisis under prior administrations, the business community rightly turned its nose up at Illinois for years. However, today the state is on strong financial footing.
- Illinois has received nine credit rating upgrades in a row.
- The state is operating under its fifth balanced budget with consistent surpluses.
Economic Development Strategy
With Illinois now on strong financial footing, we are able to prioritize an economic development strategy in a way we never could before.
- Illinois has a $1 trillion gross domestic product, record job growth, and historic business creation.
- The state has the fifth-highest GDP in the nation and is the 18th largest economy in the world.
Conclusion
Illinois’ economic journey is one of resilience, innovation, and ongoing transformation. With our state’s leadership working every day to maintain fiscal discipline and stay committed to economic growth, we can ensure that Illinois continues to be a place where individuals and businesses alike can thrive.
As the governor noted in his State of the State address: “Do not let the doom grifters steal your optimism about what’s ahead for Illinois. Our future is bright, and opportunity lies ahead.”
About the Author
John Atkinson is chairman of Intersect Illinois, a statewide economic development organization.
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SDGs, Targets, and Indicators in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
- SDG 4: Quality Education
- SDG 9: Industry, Innovation, and Infrastructure
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries.
- SDG 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university.
- SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Gross domestic product (GDP) growth rate
- Rankings in infrastructure, education, access to capital, and cost of living
- Number of new businesses relocated or expanded in Illinois
- Rankings in workforce development
- Labor force size
- Gross domestic product (GDP)
- Job growth
- Business creation
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | SDG 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries. | Gross domestic product (GDP) growth rate |
| SDG 4: Quality Education | SDG 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university. | Rankings in education |
| SDG 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university. | Number of higher education institutions | |
| SDG 9: Industry, Innovation, and Infrastructure | SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all. | Rankings in infrastructure |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: chicagotribune.com
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