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* Gov. Pritzker was asked today about the state’s progress at attracting electric vehicle-related factories and plants on top of the recent successes with Stellantis and Gotion…
And you’ve just seen recently the announcement of a big battery factory in Manteno, a battery factory and an assembly plant coming to Illinois as a result of the settlement of the UAW strike and the work that we’ve done with Stellantis.
I can tell you that we have literally a dozen more that are in the category of electric vehicles along with a dozen more on top of that in other categories.
“We have a robust pipeline we continue to work on,” said his spokesperson Jordan Abudayyeh when asked for clarification.
Pritzker also disclosed that he owns a Rivian.
* More from the governor…
These kinds of incentives really are effective. And, just to be clear to everybody, it’s not like we need to do something that other states don’t need to do. We’re just becoming competitive for the first time with other states that have already been providing these kinds of incentives. I want to be best in the nation, but I don’t want to spend taxpayer dollars attracting companies if we don’t need to do that to be competitive. The truth is that Michigan, Tennessee, Texas, you know, we can name a lot of states that have closing funds and incentives that we didn’t have in place. And now we do and the General Assembly deserves a lot of credit here, the result of which already, we’re seeing coming up on 10,000 new jobs as a result of the companies that have committed to come to Illinois. And I think the number is now $8 billion of investment in the state just from the initial results. And as I say, there are others that are in the pipeline.
…Adding… A few more business-related stories from Isabel…
* Inside Indiana | Ameristar Casino owner plans new casino in Illinois: Las Vegas-based Penn Entertainment Inc., the parent of two Indiana casinos, has broken ground on a $360 million casino in Aurora, Illinois. The new Hollywood Casino Aurora will be located about 60 miles from Penn’s Ameristar Casino in East Chicago. Penn currently operates Hollywood Casino Aurora at on the Fox River in downtown Aurora. The move inland is the result of a law passed in 2019 allowing for riverboat casinos to move on land.
* Bloomberg | Citadel and its peers are piling into the same trades. Regulators are taking notice.: Multimanager funds like Griffin’s Citadel have come to dominate the hedge fund industry, riding a steady run of outperformance to oversee more than $1 trillion, including a healthy dose of leverage. But the explosive growth has led the industry giants to pile into many of the same trades. That has built unease among regulators, investors and traders over these so-called pod shops. And while Citadel’s billionaire founder has vocally opposed any notion that his firm and rivals pose systemic risks and need more regulation, even he acknowledges that crowded trades could lead to widespread losses if all of them head for the exits at once.
posted by Rich Miller
Tuesday, Dec 5, 23 @ 12:04 pm
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==He also disclosed that he owns a Rivian.==
I picture the Governor driving around in an Amazon van delivering packages while wearing a Santa suit.
Comment by Pot calling kettle Tuesday, Dec 5, 23 @ 12:07 pm
A Liberal “job creator?” Who’d a thunk.
Comment by Jerry Tuesday, Dec 5, 23 @ 12:12 pm
The governor is 100% correct here. The Inflation Reduction Act created the opportunity for America and JB Pritzker and the ILGA established the conditions necessary to bring them here. This is a huge win for the president and the governor. Oh, and the one thing all of these efforts have in common, they were Democratic initiatives that in most cases received not a single Republican vote in Congress and only modest GOP support here. Democrats are bringing manufacturing back. You can call that “partisan” spin, but it has the added benefit of being 100% true.
Comment by New Day Tuesday, Dec 5, 23 @ 12:12 pm
Terrific! Let’s create an industry manufacturing a product that consumers do not want. The major auto companies are reporting that a significant number of motorists do not want EVs.
Keeping pushing Beta while consumers prefer VHS.
Comment by Gravitas Tuesday, Dec 5, 23 @ 12:16 pm
=Pritzker also disclosed that he owns a Rivian.=
Wait…no trashcan van attempt at virtue signaling.
When you have a governor that likes aIllinois and buys local, good things seem to happen.
Comment by JS Mill Tuesday, Dec 5, 23 @ 12:21 pm
“And now we do and the General Assembly deserves a lot of credit here”
One of his best attributes is being able to share credit
Comment by Nick Tuesday, Dec 5, 23 @ 12:24 pm
“Let’s create an industry manufacturing a product that consumers do not want.”
The planet is moving to EVs. The only question is how quickly. Personally, I can’t wait to get an EV once the network and range improves. I know a ton of people who feel the same way. It’s not that we don’t want one. Anyone who has ever driven a good EV is enthralled by its performance. It’s just a matter of when. So while adoption may be a bit slower than projected, the industry movement in this direction is inevitable. Putting Illinois at the forefront of a new industry makes all the sense in the world…unless perhaps you would prefer we invest in buggy whips.
Comment by New Day Tuesday, Dec 5, 23 @ 12:26 pm
==Let’s create an industry manufacturing a product that consumers do not want.==
Doesn’t matter if you want it. It’s coming. These plants are good investments.
Comment by Demoralized Tuesday, Dec 5, 23 @ 12:28 pm
I’ll probably be buying a Rivian when the new R2 platform comes out.
Comment by TheInvisibleMan Tuesday, Dec 5, 23 @ 12:29 pm
@New Day
Adam Smith still applies. Manufacturers react to consumer demands. Without generous government subsidies, there is not a consumer driven market for EVs yet.
Comment by Gravitas Tuesday, Dec 5, 23 @ 12:30 pm
@Gravitas
Some states are adopting zero emission vehicle standards that will require all vehicles to eventually meet those standards. Electric vehicles are coming whether you like it or not. This is an up and coming industry. You’re simply wrong when you suggest we shouldn’t be investing in it.
Comment by Demoralized Tuesday, Dec 5, 23 @ 12:40 pm
- Without generous government subsidies, there is not a consumer driven market for EVs yet. -
That’s been the case for pretty much every new technology the last hundred years or more. The range of EVs currently doesn’t meet my needs, but as soon as they do I’ll be happy to switch.
Comment by Excitable Boy Tuesday, Dec 5, 23 @ 12:47 pm
===Without generous government subsidies, there is not a consumer driven market for EVs yet.===
Without decades of generous government subsidies, including the amount the United States spends on its military, there ICE market (aka oil/gas) would also be challenged.
There’s plenty to criticize about EVs, with varying degrees of merit: charging time, charging network, battery safety, range limits, cost to repair.
But, those can all be overcome by science and engineering. And, they will be.
There are those who thought computers and cell phones were going to fizzle out. LOL.
Don’t be wedded to the very imperfect past and its polluting technologies, that only leads to decay and decline.
Comment by Moe Berg Tuesday, Dec 5, 23 @ 12:53 pm
===would also be challenged.===
There would be none. Wordslinger would always point to the Fifth Fleet, the Iraq war, etc. when this topic came up.
We pay in blood and treasure for oil.
Comment by Rich Miller Tuesday, Dec 5, 23 @ 12:58 pm
Hopefully, this will work out for Illinois. Good for jobs, good for the economy and good for climate change mitigation.
Comment by Norseman Tuesday, Dec 5, 23 @ 1:01 pm
Wordslinger is missed.
Comment by Norseman Tuesday, Dec 5, 23 @ 1:04 pm
With all due respect, it’s a little humorous to consider whether or not the billionaire governor owns a Rivian, unless you envision a different target demo than I do. It’s not consequential whatsoever. Whether or not middle class people feel like they can own an EV is what matters.
Comment by Torco Sign Tuesday, Dec 5, 23 @ 1:17 pm
“Doesn’t matter if you want it. It’s coming. These plants are good investments.”
That right there.
Comment by btowntruth from forgottonia Tuesday, Dec 5, 23 @ 1:26 pm
Good lord, the nattering nabobs of negativism on this thread today. People who otherwise, I suspect, think of themselves as pro-business, patriot types.
New tech always is for the wealthy at first. Then the cost curve comes down and the masses adopt it.
Time and time again. Product after product. Industry after industry - quite often with government subsidy (see: World Wide Web; pharmaceutical drugs; satellites and spacecraft).
@ Rich and @ Norseman: Wordslinger is missed and his memory is a blessing, especially on these boards.
Comment by Moe Berg Tuesday, Dec 5, 23 @ 1:34 pm
- it’s a little humorous to consider whether or not the billionaire governor owns a Rivian -
He’s the Governor of Illinois and he’s showing his support for a vehicle made in Illinois. This issue really makes some of you crabby, go take a nap.
Comment by Excitable Boy Tuesday, Dec 5, 23 @ 1:39 pm
The Governor touting positive economic news comes on the same day that the head of World Business Chicago announced that he’s leaving his post. The contrast between administrations is real.
Comment by NIU Grad Tuesday, Dec 5, 23 @ 1:40 pm
Gravitas-
Lemme guess, you were bemoaning the loss of standard shift automobiles.
Fossil fuels are on the way out. Not in the next century or so, but in the near future.
Comment by Flyin'Elvis'-Utah Chapter Tuesday, Dec 5, 23 @ 1:56 pm
“Lemme guess, you were bemoaning the loss of standard shift automobiles.”
Now hang on there. I bemoan the loss of stick shifts. I grew up on stick. I love stick. I can’t buy stick anymore. The number of cars for sale in this country with stick are rapidly declining. But it’s not longer just this country. In June I rented a car in Italy and was excited to get a stick again. But they stuck me with an automatic. I miss stick.
BTW, someday in about fifteen years, you will be able to write the exact same paragraph about internal combustion engines. But the only thing you will miss about ICE (which I still drive) is the roar of the engine and the speed of fill-ups. Everything else is better already with EVs.
Comment by New Day Tuesday, Dec 5, 23 @ 2:10 pm
“the nattering nabobs of negativism”
All this time they’ve been slamming Illinois as bad for business, now they are sour at the economic growth. Which exposes their motives, not really pro-business but anti-Democratic/liberal. Their worst nightmare is invalidation of the right wing economic model. They love bad economic news, which they try to weaponize.
Comment by Grandson of Man Tuesday, Dec 5, 23 @ 2:12 pm
I think that for many like myself, it’s not the concept that makes us hesitate, it’s the need for better infrastructure.
I would love to have an EV, and once some of the issues with charging speed and availability, and range are resolved or improved, I’ll get one.
(This might be a good time to reference a recent column by Lee Bey, in which he notes that early electric-powered vehicles flopped, due to long charging times and the steep cost: https://chicago.suntimes.com/columnists/2023/12/1/23982978/south-loop-hybrid-car-dealer-woods-motor-vehicle-century-ago-demolition-lee-bey-chicago-architecture )
Comment by JoanP Tuesday, Dec 5, 23 @ 2:29 pm
===it’s the need for better infrastructure===
Agreed. I leased Cadillac’s first hybrid car and then leased another one when that expired. Both were plug-ins. Loved them. They were gorgeous.
But they also had gas tanks, which I only used when I left town. I could go months without filling up the tank. But then I could drive to Chicago or wherever without having to stop and find a place to charge.
If I get another EV, it’ll likely be a hybrid. That Ford Maverick truck looks sharp as all get-out.
Comment by Rich Miller Tuesday, Dec 5, 23 @ 2:40 pm
@Moe Berg is just en fuego today. Well done sir.
I am with JoanP and others, when the infrastructure (especially in rural Illinois where I live) are better, I am all in.
And if you look beyond Tesla, there are many EV’s available in the $30,000’s already and more coming.
Gas engines will not be sold 20 years from now and likely sooner. Diesel is a different story. Until semi’s can run on batteries that do not triple the weight of the rig and have a range of at least 500 mils, diesel will still be the primary power source for heavy haulers and equipment.
Comment by JS Mill Tuesday, Dec 5, 23 @ 3:38 pm
=Pritzker also disclosed that he owns a Rivian.=
Really thought the Governor would roll in something built by union labor.
Comment by SAP Tuesday, Dec 5, 23 @ 3:45 pm
When we started discussing switching to an EV for our family, I did some math and worked out that it would actually be cheaper for us to be all-EV and not buy gas and just RENT an ICE or hybrid car for the rare occasions we drove outside the EV’s range.
Not everybody’s situation, I know, especially in more rural areas. But if you mostly commute and run errands in the suburbs, it might be worth figuring out how often you drive beyond the EV’s range, and figuring out if renting on those occasions would be cheaper than maintaining a car that needs gas.
Comment by Suburban Mom Tuesday, Dec 5, 23 @ 4:05 pm
Demoralized- unfortunately Ford-GM and Chrysler all disagree. The EV uptake has stalled. The wealthy who can buy anything they fancy have bought theirs. Now car lots are filled with unsold inventory. Add to that that although Biden got 7.5 billion to build out the charging infrastructure in 2021- in the two years since- not one ( not one) charger has been installed. Biden may end up bankrupting the big 3 if the govt doesn’t back off the EV mandates. Then again- if a Dem isn’t elected next year- you can assume the federal mandates will evaporate and the market can once again dictate what is manufactured. Anyway- as Rich suggests and as Toyota’s success proves- we should be focused on Hybrids- equally good mileage and plenty of demand. The problem with your party is convinced it knows what we should drive
Comment by Sue Tuesday, Dec 5, 23 @ 4:43 pm
As someone who views cars solely as an object to get me from Point A to Point B and return, I tend to keep them until they are unable to do that. Perhaps the next time that rolls around the charging speed and range issues will have improved and I’ll be looking at an EV. I certainly will be looking beyond Tesla, don’t want to do anything to encourage Musk. (Am I the only one who thinks his outfit during his recent advertiser rant made him look like someone whose B17 was shot down over Europe in 1944?)
Comment by West Side the Best Side Tuesday, Dec 5, 23 @ 4:45 pm
==The problem with your party==
Lol. Says the partisan hack.
Comment by Demoralized Tuesday, Dec 5, 23 @ 5:01 pm
- Am I the only one who thinks his outfit during his recent advertiser rant made him look like someone whose B17 was shot down over Europe in 1944? -
Please don’t soil the image of these brave men by comparing them to Elon Musk.
My Dad wore that jacket…like thousands of other brave defenders of democracy.
Comment by Dotnonymous x Tuesday, Dec 5, 23 @ 6:14 pm