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Isabel’s afternoon roundup (Updated)

Thursday, Mar 7, 2024 - Posted by Isabel Miller

* Press release…

Today, Governor JB Pritzker joined Primient leadership, the Department of Commerce and Economic Opportunity, and local stakeholders to celebrate Primient’s new investments in Decatur. With this milestone $400M investment over the next 5 years in infrastructure and operations, Primient will improve refining and drying practices and further ensure quality and reliability for decades to come. A leader in sustainable food and industrial ingredient production, Primient is the sole corn wet miller to replace coal use at every facility with more sustainable energy sources.

“Illinois is open for business, and we’re showing the rest of the nation that business development and environmental sustainability go hand-in-hand,” said Governor JB Pritzker. “I couldn’t be prouder to join Primient leadership as they announce a historic $400 million capital investment here in Decatur. Today’s announcement doesn’t just secure Primient’s status as a market leader — it speaks to their commitment to serve as a true community partner.”

“In Illinois, we embrace innovation. We are ready to make changes that will protect our land for future generations and it’s exciting to partner with businesses who share that goal,” said Lt. Governor Juliana Stratton. “I look forward to seeing how Primient will use these funds to propel sustainable energy. This is the kind of work that will ensure Illinois’ long-term economic and environmental success.”

Primient’s Decatur facility investments will prioritize a few key projects:

    - Modernizing and upgrading feed, germ, and drying processes,
    - Improving syrup refining reliability and efficiencies,
    - Enhancing safety and equipment capabilities,
    - Updating employee spaces such as lunch and locker rooms,
    - And providing additional training and development opportunities and programming.

[…]

The investment aims to guarantee the Decatur site’s future for the next 20 years, with technological and environmental considerations to ensure prosperity. As a long-term community partner, Primient has increased corn processing capacity by 10 million bushels, locally sourced, and created hundreds of jobs for Illinoisans.

As part of the expansion, the company received an Economic Development for a Growing Economy (EDGE) tax credit, which stipulates a $40 million minimum investment and creating 50 new full-time jobs and retaining nearly 540 full-time jobs. A link to the full agreement can be found here. (Note: Agreement will be on this site when executed).

* Illinois Hotel and Lodging Association…

The Illinois Hotel & Lodging Association (IHLA) released the following statement applauding the Senate Environment and Conservation committee for passage of SB 2960, which will ban single use toiletries in hotels.

“The Illinois Hotel & Lodging Association applauds the Senate Environment and Conservation committee for passage of SB 2960, which will ban single use toiletries in hotels. While most hotels are already in compliance with this bill and have proactively replaced these products with more environmentally-friendly options, we remain committed to strengthening sustainability efforts and reducing waste within our industry. We thank Sen. Laura Fine for her leadership on this measure, which will codify these practices into law and make common-sense sustainability effort the baseline for Illinois hotels,” said Michael Jacobson, President and CEO of the Illinois Hotel & Lodging Association.

* Press release…

Illinois Senate Republican Leader John Curran (R-Downers Grove) was joined at a March 7th Capitol press conference by Senator Dave Syverson (R-Cherry Valley) and Senator Sally Turner (R-Beason) to talk about legislation he is sponsoring to require an annual report to the General Assembly identifying all state spending on services and resources for migrants. […]

Curran’s Senate Bill 3170 would require the Illinois Department of Human Services to work with relevant State agencies, to prepare an annual report to the General Assembly identifying all state spending on services and resources for migrants. It would also be made available to the public on the Department’s website.

…Adding… From the governor’s office…

Following Donald Trump’s orders, Senate Republicans are blowing their racist dog whistle and conflating different immigrant populations to vilify human beings for their political gain. Whether it’s the Governor of Texas shipping people across the county creating a humanitarian crisis or Republican legislators complaining that people who call Illinois home are getting services they need, Republicans are once again proving their only focus is on dividing us. Just because they do not agree that we should live up to our duty to care for people, doesn’t mean information about how we’re doing that isn’t already publicly available. Instead of their ridiculous political theater, the super minority party should be focused on working with their colleagues in the General Assembly to vote for a balanced budget that invests in the very services they claim they care so much about.

Whew.

* Press release about a bill that’s now heading to the governor’s desk…

Today, the Illinois House of Representatives passed HB779, a rewrite of the Pawnbroker Regulation Act (PRA). Upon passage, a coalition of consumer advocates – including AARP, the Catholic Conference of Illinois, the Chicago Urban League, and Woodstock Institute – and financial technology (fintech) companies (the “Coalition”), sent a letter to Governor Pritzker identifying the pros and cons of the bill.

Among the pros: the bill prohibits pawnbrokers from making auto title loans, which is a problem in other states. The bill also empowers the Illinois Department of Financial & Professional Regulation (IDFPR), to collect data about every pawn loan made in the state.

Among the cons: the bill permits pawnbrokers to continue charging 240%+ APR on loans less than $500.

“This bill is a ‘mixed bag’ from a policy perspective. Unable to compete with the pawn industry’s considerable resources, we decided to remove our opposition to the bill and take “No Position.”” said Brent Adams, Senior Vice President of Policy & Advocacy at Woodstock Institute. “The interest rates are still too high, but HB 779 lowers the rate on loans of $500 and above. A critical component of HB 779 is data collection, which is intended to enable the stakeholders to revisit the issue of interest rates at a future date. We are grateful for the leadership of State Senator Elgie Sims, who spearheaded negotiations in the Senate and signaled a commitment to addressing rate-related concerns in the years to come.”

Earlier this year, Woodstock released a report, which showed that Illinois consumers have saved over $600 million thanks to the 36% interest rate cap on consumer loans that was established in 2021. Woodstock’s report stated that there is a high probability that some of the money saved by consumers on payday and auto title loans was spent on pawn loans. The report pointed to Ohio where, after enacting a cap of 28% APR on payday loans, there was a 97% increase in pawn shops.

Caps on pawn loan finance charges vary considerably among the states. Michigan caps pawn loans at 36% APR plus a $3 per month storage fee while Kentucky permits a pawnbroker to charge as much as 264% APR. Iowa has no cap.

In recent years, more states have established rate caps and resisted industry efforts to raise rates. New Mexico established a 36% rate cap on installment loans modeled after the Illinois law. Colorado and Minnesota reduced the allowable APR on certain small short-term loans, and Florida’s governor vetoed a bill last year that would have raised interest rates on installment loans to 36%.

* A little taste



* Here’s the rest…

       

22 Comments
  1. - Blue Dog - Thursday, Mar 7, 24 @ 2:34 pm:

    I tried finding out what is a more sustainable energy source but came up empty. anyone out there know what theiy are using in luie of coal?


  2. - Demoralized - Thursday, Mar 7, 24 @ 2:35 pm:

    ==the super minority party ==

    Heh.


  3. - Roadrager - Thursday, Mar 7, 24 @ 2:43 pm:

    A Fetterman comms director?

    So Brandon’s going to start channeling Paul Vallas in two weeks?


  4. - Flapdoodle - Thursday, Mar 7, 24 @ 2:47 pm:

    Wow — Preach it, Governor, preach it [banned punctuation]


  5. - One Term - Thursday, Mar 7, 24 @ 2:52 pm:

    Joe C has a tough fight ahead of him. He has to turn the mayors reputation around while the guy who ruined it serves as his director. God speed to him. No one will fault him for a short tenure.


  6. - Charles Edward Cheese - Thursday, Mar 7, 24 @ 2:55 pm:

    I don’t think being “punchy, quirky & heavy on quick memes” is the secret sauce that was missing for Mayor Johnson and the fifth floor to be successful.


  7. - Wowie - Thursday, Mar 7, 24 @ 3:05 pm:

    Have been pretty critical of Johnson on here but do wanna say I think this is a phenomenal comms hire.

    Time will tell if I’m right, but it is certainly hard to imagine it being worse


  8. - This here - Thursday, Mar 7, 24 @ 3:07 pm:

    The Chicago mayor is making a smart move bringing in the big talent from out of state ala Pritzker. Democrats with national hopes are in love with those out of state types. Who knows - this hire can only be a value added proposition. Johnson desperately needs quality staff who can say “no” to their boss’s bad ideas and instincts.


  9. - Bob - Thursday, Mar 7, 24 @ 3:10 pm:

    What a BS statement from Pritzker’s office. How dare Republicans ask for transparency in spending.


  10. - Joe Bidenopolous - Thursday, Mar 7, 24 @ 3:23 pm:

    =So Brandon’s going to start channeling Paul Vallas in two weeks?=

    Or, just spitballing here, maybe Fetterman’s recent comments are the reason Calvello was available…


  11. - WK - Thursday, Mar 7, 24 @ 3:27 pm:

    The Governor’s response to the Senate GOP reminds me of that scene in Billy Madison. “At no point in your rambling, incoherent response….”
    So the best the Gov’s team can offer in response to a call for transparency is to not even address the actual issue? Seems like the natural follow up question would be something like, “So you’re a no on transparency in spending?”


  12. - Former ILSIP - Thursday, Mar 7, 24 @ 3:36 pm:

    Sounds like the Senate Republicans hit a nerve. The wild haymakers in the Gov’s statement are not a sign of seriousness, rather, they’re a sign that this is an issue of electoral/fiscal/etc concern.

    Also, if the info is easily available and public, then what’s the problem with releasing it and proving they are wrong, Gov?


  13. - Demoralized - Thursday, Mar 7, 24 @ 3:36 pm:

    ==How dare Republicans ask for transparency in spending.==

    You can see state spending online. The Governor is right. This is just grandstanding by the Republicans. The Republicans have made it quite clear that they do not care about this group of people. They are perfectly happy to ignore them and let them rot in the streets. Great bunch of people Republicans are.


  14. - Rich Miller - Thursday, Mar 7, 24 @ 3:40 pm:

    ===Also, if the info is easily available and public, then what’s the problem with releasing it===

    https://illinoiscomptroller.gov/financial-reports-data/data-sets-portals/chartsgraphs/asylum-seekers


  15. - Wowie - Thursday, Mar 7, 24 @ 3:43 pm:

    @ Joe Bidenopolous

    You nailed it.


  16. - Anon221 - Thursday, Mar 7, 24 @ 3:44 pm:

    March 16, 2023 Q&A with Primient on future energy use. Recording is hard to hear. Talking about possibly transitioning from natural gas to hydrogen, if hydrogen becomes a viable source. https://tinyurl.com/ctxeamzy Current plant use- https://www.gridinfo.com/plant/primient-decatur-plant-cogen/10867


  17. - Rudy’s teeth - Thursday, Mar 7, 24 @ 3:47 pm:

    Wonder if the new hire—Calvello—in MBJ’s office will make a difference? If they needed someone who is punchy, quirky, and heavy on memes, did they check with Second City staff on North and Wells in Chicago?

    Was David Axelrod busy? Chicago isn’t Pennsylvania.


  18. - Rich Miller - Thursday, Mar 7, 24 @ 4:03 pm:

    ===Chicago isn’t Pennsylvania===

    Ever heard of Philadelphia? Pretty rough and tumble place.


  19. - Blue Dog - Thursday, Mar 7, 24 @ 8:18 pm:

    I have spent the last 6 hrs trying to digest this Primient deal. looks to be a gigantic corporate handout. Enhancing lunch rooms?


  20. - Excitable Boy - Thursday, Mar 7, 24 @ 8:37 pm:

    - looks to be a gigantic corporate handout. -

    They’re getting an EDGE tax credit like many others have gotten. Are you so dense you think the $400 million is coming from the state?


  21. - Blue Dog - Friday, Mar 8, 24 @ 2:04 am:

    when corporations don’t pay their fair share of taxes, it is a handout. unless you want to pick up the difference.


  22. - Excitable Boy - Friday, Mar 8, 24 @ 7:08 am:

    - don’t pay their fair share of taxes, it is a handout -

    You called it gigantic.


Sorry, comments for this post are now closed.


* SUBSCRIBERS ONLY - Update to today's edition
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* Question of the day
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* SUBSCRIBERS ONLY - Fundraiser list
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