2/25/2010

Dear Friends,
 
With nearly one in 10 Illinoisans out of work, I am making job creation and retention a priority in my work for and campaign to be State Treasurer.
 
This month we received great news: Sony Corp. bought iCyt, a Champaign biotechnology company that received seed money from the Treasurer's Office. The acquisition has the potential to create hundreds of American and Illinois jobs in coming years.
 
I testified about this job creation success on Feb. 24 before a bi-partisan task force in Springfield, and asked that the General Assembly help our office expand our Technology Development Account (TDA) so we can continue to attract, assist and retain good-paying technology jobs in Illinois.
 
iCyt is one of 34 Illinois technology companies that have received venture capital funds from the State Treasurer’s Office, creating hundreds of jobs in industries including software, telecommunications, biopharmaceuticals and life sciences, business services, financial services and alternative energy.
 
The success of the TDA and new companies like iCyt has an immediate ripple effect on our local and state economy. Job creation leads to new workers spending money, purchasing homes, and raising families – all of which strengthen communities. It also enables the Land of Lincoln to attract top talent and retain the best and brightest the state has to offer.

Please join me in supporting HB4819 and SB3655 which will allow the Treasurer to segregate up to 2 percent of the state’s investment portfolio in TDA and create a private sector matching fund – without adding any administrative costs or resources.

Illinois must stay competitive as the new economy continues to define itself. We need to send a clear signal to tech entrepreneurs that we welcome them instead of showing them the door that leads across the border or to the Silicon Valley.

Robin