One of Southern Illinois Now’s (SI Now) top priorities is to attract new businesses, retain and help existing businesses expand, and encourage entrepreneurship in the southern 17 counties in the Land of Lincoln. Business attraction and retention is not limited to the United States – stretching beyond the country’s borders, it’s essential to encourage foreign direct investment (FDI) to Southern Illinois.
SI Now will be taking part in the SelectUSA Investment Summit held June 23-26 in Washington D.C., which is focused on FDI. As part of Team Illinois, SI Now will be promoting Southern Illinois as the best choice for international companies to invest and do business.
There are 1,538 international companies in Illinois, employing 376,700 workers; approximately 135,900 of those jobs are in the manufacturing sector. From 2016 to 2021, Illinois’ FDI employment increased by 8.1%.
As businesses seek to be closer to their customers to minimize shipping costs and supply chain disruptions, Southern Illinois is garnering a lot of attention. Long considered a “hidden gem,” companies are taking notice of the region’s centralized location, robust transportation offerings, and diverse site selection inventory. The region has become a hub for automotive parts manufacturers, food and beverage manufacturing, agribusiness, and even aviation.
Southern Illinois has seen significant investment from global companies expanding their footprint in recent years. German-based Continental Tire operates the company’s largest plant in North America in Mt. Vernon, Illinois, employing more than 3,500 people with plans to continue expanding. Japanese car part manufacturer Aisin employs over 1,800 people at three plants in Marion, Illinois, and just completed a 463,000-square-foot logistics center earlier this year. Italian cable manufacturer Prysmian Group is expanding its Du Quoin, Illinois, plant to double its production of medium voltage transmission cable and add 80 new jobs. Agrochemical manufacturer AECI Schirm, with headquarters in Germany and South Africa, recently completed two new herbicide facilities in Benton, Illinois, adding another 30 new jobs. In total, more than 5,500 people are employed by international companies in Southern Illinois.
Ahead of the pack, Illinois is one of the top states for business creation and workforce, ranking #2 in the United States for business expansions and relocations and #2 for infrastructure and education.
SI Now is looking forward to more successes in attracting foreign direct investment in Southern Illinois. SI Now is pleased to be joined at SelectUSA by Jefferson County Economic Development Corporation along with Intersect Illinois, Illinois Department of Commerce and Economic Opportunity, Bloomington-Normal Economic Development Council, Champaign County Economic Development Corporation, Choose DuPage, Economic Development Corporation of Decatur and Macon County, Greater St. Louis, Grundy Economic Development Council, Illinois Fermentation and Agriculture Biomanufacturing Hub, Quad Cities Chamber of Commerce, Will County Center for Economic Development, and World Business Chicago.
Connect with Southern Illinois and Team Illinois at Booth 323 at the 2024 SelectUSA Summit!