Capitol Fax.com - Your Illinois News Radar » “The overall news is good” about Asia trade trip
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
“The overall news is good” about Asia trade trip

Wednesday, Sep 20, 2017

* Greg Hinz interviews Intersect Illinois’ Mark Peterson about the governor’s recent Asian trade trip

In an interview, Peterson said he couldn’t break confidence and reveal great detail on exactly what to expect after meetings in Tokyo and Nagoya, Japan, and Shanghai and Beijing. Some deals are close, others are in the early stages and some are strictly conceptual.

But the overall news is good, he said, involving everything from a Chinese sovereign wealth unit to a Michigan Avenue retailer and investments in the state’s growing biotech business. The trip “absolutely” will pay dividends within the next year, he said. “My guess, it will be in the hundreds, if not thousands of new jobs” in Illinois.

Potentially the most significant was a Beijing meeting between the Illinois delegation and Chinese Investment Corp.—which is looking to invest $200 billion somewhere—and officials from 60 companies affiliated with that group.

“We had some very significant discussions with those companies,” which are involved in industries ranging from food processing and clean energy to pharmaceuticals. […]

The group also met with senior executives of Toyota, which, with Mazda, has been kicking the tires in the Rochelle area in west central Illinois, considering building a plant there—or elsewhere in the country. Notably, in that session, were the executive director of the DeKalb County Economic Development Corp. and Rochelle’s economic development director.

* Ralph Martire argues for a different sort of state investment

For a real eye-opener look back to fiscal year 2000, when the appropriation for higher education was $2.15 billion — or about $314 million more, in nominal, non-inflation adjusted dollars, than fiscal year 2018. Of course, inflation matters: Over time it drives up the cost of everything, from running a business to educating college kids. After adjusting for inflation, state funding for higher education in 2018 is fully 51.6 percent less than in fiscal year 2000.

This consistent disinvestment has had consequences, none of them good. For instance, many Illinois public universities — like Western, for instance — have had to cut core academic offerings like philosophy, due to underfunding. Meanwhile, crucial student financial supports like the Monetary Assistance Program — which provides low-income kids financial aid in the form of grants they don’t have to repay — aren’t funded anywhere near what’s necessary to meet demographically driven need. In response, potential college students have been voting with their feet: During the last 10 years, enrollment declined at Illinois’ public universities by more than 14,000 students.

Meanwhile, all the evidence indicates Illinois should reverse course, and invest in building a world-class higher education system. According to the Bureau of Labor Statistics, the unemployment rate for high school grads is more than twice as high as it is for college grads. Moreover, the wage gap between high school and college grads has doubled since 1979, growing from 23.5 to 47 percent. Want more evidence? From 1979-2012, states with the greatest increases in productivity and highest per capita incomes also had the largest share of adults with a college degree. Not to mention that higher education plays a crucial role in facilitating upward economic mobility for individuals who come from low-income backgrounds.

Despite all that, Illinois continues to lag the nation in making higher education investment a priority — and kids heading off to college have noticed.

* Related…

* New iPhone uses facial data that’s protected under Illinois law: Apple calls their new system Face ID. It projects infra-red lights against the iPhone owner’s face and uses that info to authenticate and unlock the phone. A faceprint is as individual as a thumbprint and is protected by Illinois’ Biometric Information Privacy Act, which says a company cannot take and store things like thumbprints, or in this case faceprints, in an offsite location… “Apple is not taking possession of the biometric information and likely wouldn’t apply to [Illinois’] law,” he said. “Keeping it out of a master database is a much better practice than most biometric policies that companies are following today.”

* Emanuel invites Chicago ‘nominations’ for site of Amazon’s HQ2

* Oak Brook to bid for Amazon headquarters at McDonald’s site

* Portions of Wisconsin’s Foxconn law could be unconstitutional, state analysis finds: The Foxconn bill, which passed the Republican-controlled Legislature with bipartisan support, gives Foxconn an unprecedented expedited appeals process and allows the Wisconsin Supreme Court to take certain cases directly from the circuit court, skipping the state appeals court.

- Posted by Rich Miller        

9 Comments
  1. - Pot calling kettle - Wednesday, Sep 20, 17 @ 3:03 pm:

    If Illinois truly wants to attract tech businesses like Amazon, we need to invest in Higher Ed. Those employees won’t appear out of thin air; higher ed produces the employees tech employers need. In addition, tech thrives on research, which gets its start at universities. The folks who come to Illinois to work would prefer a top notch university system to update their skills and to send their kids to.

    Higher Ed is the foundation for future economic growth.


  2. - Norseman - Wednesday, Sep 20, 17 @ 3:07 pm:

    Regarding the trade trip. I’ll believe it when it happens.

    Higher ed used to be referenced as a major plus for IL. That asset has been under attack since Blago. It took a body blow during the Rauner impasse. Martire is correct that we should invest in this resource, unfortunately that won’t happen since our finances have been so poorly handled political leadership. A maintenance of effort is the best we can hope.


  3. - NeverPoliticallyCorrect - Wednesday, Sep 20, 17 @ 3:10 pm:

    How about we take some time to reorganize the the entire state university system, set up one board, eliminate fluff courses and then see how much money we need. Also, how about more trades training in high school. There are lots of jobs that we can’t fill because we are talking down these fields. But if you can’t find a plumber or electrician when you need one good luck with a pleasant life.


  4. - wordslinger - Wednesday, Sep 20, 17 @ 3:21 pm:

    Wow, a Michigan Avenue retailer? Obviously, that blighted stretch of Illinois needs some government help.

    No mention of actually promoting the sale of Illinois-produced goods the Chinese want, like soybeans, corn and pork. That would put the “trade” in trade mission.

    No worries, farm incomes have only been in decline for four years and are a drag on state and national GDP. BEA reported in July that for the first quarter that Iowa, Nebraska, South Dakota, Montana and Kansas experienced negative growth.

    Can’t wait for the news on that Michigan Avenue retailer, though.


  5. - Henry Francis - Wednesday, Sep 20, 17 @ 3:54 pm:

    That is a lot of empty words and phrases strung together by Intersect CEO Mark Peterson. He has been on the job for how long now? Has anyone ever heard him say something of substance publicly?

    What again is the point of Instersect?

    Heck, they can’t even keep their website live.

    Intersectillinois.org.


  6. - Oswego Willy - Wednesday, Sep 20, 17 @ 4:12 pm:

    ===Despite all that, Illinois continues to lag the nation in making higher education investment a priority — and kids heading off to college have noticed.===

    The strength of higher education, in states that make higher education a priority, is s critical component, as critical as K-12 funding, as critical as investing in trades and educating within learning skills too.

    Starving any education prong, or holding hostage education to try to get leverage or passively close places like higher education institutions…

    There must be a major commitment towards the entire higher education community that Illinois has.

    I’d like to see that happen.


  7. - Anon221 - Wednesday, Sep 20, 17 @ 4:51 pm:

    Wonder if Team Rauner plans to tout the Syngenta buyout by Chem China as one of the biotech “wins” by riding the coat tails of that deal. Just because deals happen that include portions of a business located within Illinois, doesn’t mean it should go on Team Rauner’s “Annual Report”. Just cautioning in case they try.

    http://www.reuters.com/article/us-china-m-a/what-crackdown-expect-more-china-deals-bankers-say-idUSKCN1BQ1H9?il=0


  8. - Anon221 - Wednesday, Sep 20, 17 @ 4:58 pm:

    Medill Report on China’s investments in Illinois-

    http://news.medill.northwestern.edu/chicago/chinese-investment-chicago-trump-china/


  9. - Name Withheld - Wednesday, Sep 20, 17 @ 5:11 pm:

    So what determines a ‘fluff’ course? Philosophy, arguably, could be considered one. On the other hand, being able to reasonably understand how different people think and reason and then being able to articulate that could be a very practical course.

    Wasn’t it John Adams who said “I must study politics and war that my sons may have liberty to study mathematics and philosophy. My sons ought to study mathematics and philosophy, geography, natural history, naval architecture, navigation, commerce, and agriculture, in order to give their children a right to study painting, poetry, music, architecture, statuary, tapestry, and porcelain.”

    Plenty of ‘fluff’ courses that he wants his children and grandchildren to be able to study. Human achievement isn’t all about the hard sciences.


Sorry, comments for this post are now closed.


* Rauner vetoes anti-Crosscheck bill
* *** UPDATED x1 *** SUBSCRIBERS ONLY - Campaign stuff
* Rauner says he's "extremely troubled" by Trump's "defense of the Russians"
* *** UPDATED x1 *** Our sorry state
* Question of the day
* Grade inflation
* C'mon, November...
* Because... Madigan!
* Rauner: "I will never sign a bill that violates the Second Amendment"
* Rate Rauner's new ad: "Just Call Madigan"
* Pritzker reports spending almost three times as much as Rauner
* Your feel-good Illinois story of the day: Nichols Paint and Fab
* *** LIVE COVERAGE ***
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............
<


Loading


* Treasurer touts rural loan programs in Galesbur.....
* EDITORIAL: Governor, please don't veto Illi.....
* Rauner declines to remove Illinois from multist.....
* Rauner signs bills addressing Quincy veterans&#.....
* Rauner touts gun laws during Effingham stop..
* JB Pritzker, Bruce Rauner spending $300K.....
* JB Pritzker, Bruce Rauner spending $300K.....
* Illinois governor candidates spending $300K a day..
* Rauner 'deeply troubled' by Trump's.....
* Rauner signs Quincy Veterans' Home bills..


* Rauner signs laws to speed up Quincy vets’ home construction
* Fire damages northern Illinois’ Gold Pyramid House
* Bill taking Illinois out of voter registration system vetoed
* Rauner: President should blame Russians for hacking
* States: Workaround succeeding after cut in health subsidies
* UI settles lawsuit against alumnus for $7.5K
* State lawmakers accused of harassment are running for office
* Benedictine hopes to sell Springfield campus for $3M
* 4-year-old boy found dead after central Illinois house fire
* Excerpts from recent editorials in newspapers in Illinois

* Rauner 'deeply troubled' by Trump's Helsinki comments
* Rauner signs bill to ease physician assistant hiring
* Bill taking Illinois out of voter registration system vetoed
* Rauner signs laws to improve Quincy veterans' home
* Rauner: President Trump should blame Russians for hacking
* Rauner signs laws to speed up Quincy veterans' home construction
* U of I paying alum $7,500 to halt sales of Chief Illiniwek T-shirt
* Rauner's campaign spent nearly $8 million last quarter. Pritzker's spent more than double that.
* Gov. Rauner signs two gun control bills, says he'll veto another
* Londrigan outraises Davis in 2nd quarter; Davis has more in fund

* Can a 3-D printer solve Chicago's affordable housing problem?
* Dems push GOP reps on Trump and Putin
* Boeing sees budget-airline surge driving $15 trillion market
* Abbott's next-generation device to treat leaky heart valves gets FDA OK
* CIBC shutters third-largest Illinois branch following buyout of PrivateBancorp


* Boy, 16, shot in head in West Pullman
* Boy, 14, shot to death in West Englewood: police
* Police: Man, 41, shot dead while standing on sidewalk in Altgeld Gardens
* Brewers reliever Josh Hader apologizes for racist tweets discovered during ASG
* Employment in downtown Chicago drops for residents from majority-black communities
* Denzel Washington unstoppable in slick, well-acted ‘Equalizer 2’
* Dear Abby: Boy wants dating advice from ‘out of touch’ grandma
* Man chased girl getting off school bus after offering her candy in Park Manor
* Horoscope for July 18, 2018
* Apps every professional needs to maintain health and wellness


* Trump backs off siding with Russia over U.S. intelligence
* Brewers All-Star reliever Josh Hader apologizes for past racist, homophobic tweets
* A boom in downtown jobs did not benefit some South and West Side communities, study shows
* Cubs' Willson Contreras on top of game in National League's 8-6 loss to American League
* Cubs' Yu Darvish wanted a 6-foot fence around his new lakefront mansion. Evanston has turned him down.
* Indiana man charged with Lincoln Park home invasion, sexual abuse
* White Sox's Jose Abreu enjoys first All-Star start
* Man dead, 2 others wounded in city shootings
* Hawaii lava boat tours continue after explosion, injuries
* Arizona Cardinals suspend GM 5 weeks after extreme DUI plea


» July 17, 2018 - Full Show
» Rauner Vetos 'Crosscheck' Ban — Illinois' Participation Already On Hold
» Rauner: Trump Should Be Holding Russians Accountable
» Suit: Chicago Should Refund Drivers Hit With Expensive Tickets
» Vallas Returns Campaign Cash From Controversial Donor Tied To CPS Scandal
» Biometric Data Lawsuit Reaches IL Supreme Court; Electronic Monitoring Devices; HPV Vaccines
» Illinois Governor Bruce Rauner Signs Two Bills Aimed at Reducing Gun Violence
» July 16, 2018 - Full Show
» CHA Seniors File Complaint Over Missing Grab Bars
» Cook County Commissioners Confounded By Hiring Of Health System Consultant


* Rauner 'deeply troubled' by Trump's Helsinki comments
* Guest View: As politicians duke it out, we must remember that most children just want to go home
* Byron York: Trump's approach doesn't work for the Trump-Russia probe
* Marc Thiessen: Trump isn't the first president to embarrass America by cozying up to Putin
* Catherine Rampell: Why do Republicans hate consumers?
* Rauner signs bill to ease physician assistant hiring
* Bill taking Illinois out of voter registration system vetoed
* Rauner signs laws to improve Quincy veterans' home
* Rauner: President Trump should blame Russians for hacking
* Rauner signs laws to speed up Quincy veterans' home construction


* Gwendolyn Risch
* James Peterson
* Georgia Ann Roach
* Fire departments get $2.2 million in equipment grants
* RI County Board votes to tear down courthouse
* Jackson County Board approves officers in schools program
* New regional leader of the Greek Orthodox Church to visit Decatur
* New Q-C Chamber, airport directors eye more funding for regional airport
* Building balance: Iowa, Illinois agencies offer fall prevention programs for seniors
* Fowler wins district judicial appointment


* Record 10 homers as AL wins All-Star Game 8-6 in 10 innings
* So-so All-Star Game at home for Nationals' Scherzer, Harper
* Delle Donne, Parker to captain WNBA All-Star Game
* Manny Machado trade rumors grab attention at All-Star Game
* Lessons for next US financial crisis from 3 key ex-officials

* Illinois Dems Blast Trump On Twitter After...
* Congressman reveals GOP members refused to...
* Durbin: Trump claim a “damage control event”
* Pope County pastor unpaid for FBI, police ...
* Republicans, including Davis, raise big bu...
* Metro East Republicans in Congress raise b...
* United Front
* Second 'minibus' pulls in
* US REPRESENTATIVE JOHN SHIMKUMS (IL-15): S...
* 2018 Pinnacle Bank Championship tee times

* Durbin calls for probe of abuse claims at ......
* Bernie Sanders' Video On Trump's R......
* Dems Demand Answers on Trump's Private......
* Nine fire departments get state, federal g......
* Normal Fire Department receives almost $70......

* Talk Of Segregating People With Disabiliti......
* Nine fire departments get state, federal g......
* Normal Fire Department receives almost $70......
* Freeport Fire Department receives nearly $......
* Democratic socialism can succeed in the Mi......

* Now we can see why the Dems wanted Pritzker so badly to run for governor
* Rahm makes a joke out of Quinn's term-limit push, but voters could have last laugh
* Movie In The Park On Thursday At Chase Park
* Business Insider: 21 simple ways to earn passive income
* Graceland West Garden Walk Coming Up On August 5th
* One small college moves online — carefully
* When we run out of room for data, scientists want to store it in DNA
* The tech industry leads the way in revolutionizing student loan debt
* How to start a virtual coding boot camp in five easy steps
* 5 things every college must know about cloud computing


* Illinois Department of Human Rights Releases Important New Guidebook for Housing Providers
* Illinois State Fire Marshal announces $2.2 million in grants for fire safety
* Gov. Rauner vetoes SB 2368
* Governor takes bill action
* Gov. Rauner signs Quincy Veterans' Home bills

  
* Prepare to be sick — there’s now a VR water slide
* An online retailer takes pre-orders for the Sony Xperia XZ3, price and specs revealed
* DeepMind, Skype, and Tesla founders pledge never to build killer robots
* Bad news Wear OS fans: Samsung Gear Watch said to land with Tizen OS on Aug. 24
* Xiaomi says Mi A2 is coming July 24 (Update: Mi A2 Lite now confirmed too)
* Victoria teams up with Optus and Telstra for 28 new mobile towers
* Deal: Essential Phone 360 camera mod now $19 (was $199)

* On record-setting night, AL outslugs NL
* Willson Contreras contributes to a homer-happy All-Star Game won by...
* Abreu ends White Sox drought with ASG start
* Abreu inspiring for White Sox with All-Star start
* Skoug has big game for Kannapolis
* On record-setting night, AL outslugs NL
* Chris Sale gets a little tuneup in All-Star appearance


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller