By Barton Lorimor Email | @bartonlorimor
* An expanding Illinois-based manufacturer is heading to East Chicago. From Crains…
In East Chicago, he said, Hoist will save $1 million annually on workers compensation-related costs, a significant sum for the firm. Workers compensation lawyers in Cook County right now are bringing three to four illegitimate claims against the firm a month, costing it money, according to Flaska.
Indiana also offers lower taxes for the company and less-expensive housing for his employees, he said. Hoist employs welders, assemblers, material handlers and other production workers. Hoist’s lifts are used by big manufacturers, like automakers.
Incentives played a critical role in the company’s decision to leave Illinois. Hoist will be able to lay claim on a big package of tax credits as it ramps up operations in East Chicago. By 2022, the company plans to employ around 500 people there.
* On a related note…
More than two weeks after Mitsubishi announced it was pulling up stakes on its taxpayer-subsidized auto plant in Normal, officials still aren’t saying whether the company will have to repay any of the financial incentives it received from the state.
Rather than focus on the estimated $9 million that has been paid out to the company as part of a decade-long economic development agreement inked in 2011, the Illinois Department of Commerce and Economic Opportunity says it is trying to ensure some other manufacturer fills the space left behind.
“DCEO’s primary focus is working with all parties to find a buyer for the plant and preserve the workforce,” agency spokeswoman Lyndsey Walters said in an email.
Mitsubishi received an EDGE grant not too long ago. Go read the whole thing before commenting.