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* Finally, some results from Gov. Rauner’s European trade mission…
.@FaberCastell was founded in 1761 and is one of the world’s oldest industrial companies. We met with their team in April and we’re happy that they have chosen to be born, built, and grown in Illinois for the North American market. pic.twitter.com/VR1sGSV34C
— Governor Rauner (@GovRauner) September 13, 2018
* Crain’s…
A German cosmetics manufacturer is opening a plant in Elgin with state incentives, giving Gov. Bruce Rauner a chance to credit a trade mission he took to Germany and Poland in April.
The factory, operated by a unit of pencil maker Faber-Castell, will start with 10 to 15 employees and aim to expand to 50 within three years, a threshold for job- and investment-linked subsidies under the state’s revamped EDGE program.
The plant will make cosmetic pencils, beginning this fall.
Christina Zech, managing director of Faber-Castell Cosmetics, said other states, including Wisconsin, offered more money upfront, but Illinois won out, mainly because of its central-U.S. location and access to O’Hare International Airport. Under EDGE, companies can get a credit against income taxes equal to 50 percent of withholdings associated with each new job, up to the level of projected investment.
State economic development officials learned last summer of Faber-Castell’s interest at a Commerce Department conference in Washington, according to Mark Peterson, CEO of Intersect Illinois, a privately funded economic development office. “That set the table.” Rauner then scheduled a stop at corporate headquarters in Stein, Germany.
…Adding… Text from an African-American legislator…
All that money for eyebrow pencils. We have cosmetic companies - minority ones- who could have added ‘10-15′ employees and made these things here with just a small incentive from DCEO. He coulda saved a trip.
He pointed to Summit Labs and Luster Products as just two examples.
posted by Rich Miller
Thursday, Sep 13, 18 @ 10:11 am
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At this rate, Governor Rauner will have created 10,000 jobs by the year 4014.
Comment by Thomas Paine Thursday, Sep 13, 18 @ 10:20 am
Rauner can’t create jobs, in or out of government.
It must be meanspiritedness that attracts so-called conservatives to Rauner, because he’s terrible fiscally and economically. What can they possibly see in this guy except destructive pleasure at attacking opponents?
Comment by Grandson of Man Thursday, Sep 13, 18 @ 10:23 am
He should have been doing this for the last 4 years with Rahm Emanuel along for the ride. Instead, Rauner sat in Springfield fueling an unhealthy obsession over ways to defeat his white whale: Mike Madigan and take over Illinois. Ironically, Madigan would have likely helped Rauner and Rahm bring more business to Illinois if only an olive branch was extended instead of a stick (or giant money bag). This is very likely way too little, way too late to make an impact on November 6th.
Comment by Capitalist Avenger Thursday, Sep 13, 18 @ 10:23 am
For some perspective, the Kane County Cougars employ 370 people, six times more than this plant ever will.
The Illinois Department of Human Services employs over 1000 people in Elgin, Rauner could have just passed a state budget and saved himself a bunch of jet fuel and tax incentives.
Comment by Thomas Paine Thursday, Sep 13, 18 @ 10:28 am
Atta boy. That’s how them free market principles work.
Comment by BlueDogDem Thursday, Sep 13, 18 @ 10:31 am
===50 within three years===
3.3 jobs a month… one company… one trip.
Rauner is failing.
Where o where are the “tens of thousands”?
Comment by Oswego Willy Thursday, Sep 13, 18 @ 10:33 am
The announcement doesn’t exactly put lead in the ol’ pencil.
Comment by wordslinger Thursday, Sep 13, 18 @ 10:41 am
>We have cosmetic companies - minority ones- who could have added ‘10-15′ employees and made these things here with just a small incentive from DCEO.
Great point. If I had a choice, I’d rather grow an Illinois business than try to attract a corporation with little investment in our state. My opinion doesn’t count for anything though, but the data from the EDGE program will show us the effectiveness of the two different approaches. Oh, wait…I’m sure that data is somewhere…
Comment by Earnest Thursday, Sep 13, 18 @ 11:02 am
But he got to meet a Countess! Or at least tweet about one.
Comment by Cheryl44 Thursday, Sep 13, 18 @ 11:15 am
Undignified?
What’s dignified then? Spending tens of thousands of hard earned taxpayer dollars on junkets across the globe and coming back with table scraps?
Comment by Precinct Captain Thursday, Sep 13, 18 @ 11:21 am
He or she was specifically denigrating the product, which was unnecessary to make the point about local businesses. Lots of people use eyebrow pencils. And lots of businesses that get EDGE credits make or want to make things that I think are silly, but the job and the paycheck are the key goals, not making things I like.
Comment by Jibba Thursday, Sep 13, 18 @ 11:24 am
A projection of 50 Jobs in the 3 years. Did the report leave some Zeros off? Is this a mistake? Is it a joke? Insanity.
Comment by DeseDemDose Thursday, Sep 13, 18 @ 11:25 am
Willy, don’t forget those jobs would only be coming if Illinois enacted term limits. Employers love these term limits. Guess we messed up again, right? So it is not his fault.
Comment by illini Thursday, Sep 13, 18 @ 11:30 am
The fact that Wisconsin offered more up front only for this is all you need to know about modern capitalism.
Comment by The Way I See It Thursday, Sep 13, 18 @ 11:33 am
Mike Madigan would have helped attract business to Illinois?
By presiding over the most unfriendly to business legislative session in Illinois history?
Comment by Lucky Pierre Thursday, Sep 13, 18 @ 12:06 pm
Welcome to Illinois! Wish we could say that more often.
Comment by A guy Thursday, Sep 13, 18 @ 12:13 pm
Hey LP, didn’t Madigan agree to Rauner’s privatized economic development Corp. - he just wanted a 3 year sunset to ensure it wasn’t experiencing any of the issues that are prevalent in the ones in other states?
But the Guv turned him down.
And so we have Intersect. laser focused on growing jobs. Unfettered by all that red tape at DCEO and oversight by MJM and the lefislature. And just what has that accomplished in 3 years?
Comment by Henry Francis Thursday, Sep 13, 18 @ 12:20 pm
===don’t forget those jobs would only be coming if Illinois enacted term limits. Employers love these term limits. Guess we messed up again, right? So it is not his fault.===
… and Fair Maps… don’t forget Fair Maps, - illini -
Comment by Oswego Willy Thursday, Sep 13, 18 @ 1:06 pm
“The factory, operated by a unit of pencil maker Faber-Castell, will start with 10 to 15 employees and aim to expand to 50 within three years, a threshold for job- and investment-linked subsidies under the state’s revamped EDGE program.”
How much did IL pay them to put 10- 15 people to work in IL?
Comment by M Thursday, Sep 13, 18 @ 1:57 pm