Stadelman economic growth bill signed into law

• Springfield

SPRINGFIELD – Thanks to State Senator Steve Stadelman, a new law is on the books that aims to stimulate economic development through incentives for cutting-edge technology and clean energy manufacturing, with a particular focus on job creation in the Rockford area.

“This is a major step forward for our state’s economy,” said Stadelman (D-Rockford). “By incentivizing high-tech and clean-energy industries, we are not only paving the way for innovative developments but also ensuring the creation of good-paying jobs for our residents.”

The new incentives will build on the 2021 Stadelman-sponsored Reimaging Energy and Vehicles Act, which positioned Illinois as a hub for electric vehicle and battery production. Last year, automaker Stellantis announced a $5 billion investment that includes a new EV product for the Belvidere Assembly plant, a battery production facility and a parts distribution center. Stadelman’s law will further advance zero-carbon technologies in Illinois by offering incentives for green steel manufacturing and electric and hybrid aircraft production.

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Stadelman: IRONMAN will be held in Rockford

ROCKFORD – State Senator Steve Stadelman is pleased that the state of Illinois was able to attract Rockford to host the IRONMAN 70.3 triathlon beginning next year through 2027.

“Hosting the Ironman gives us the opportunity to show folks from near and far all the great things Rockford has to offer,” said Stadelman (D-Rockford). “This event will not only drive visitors to Illinois, but it will also boost our local economy.” ​

This is the first time the IRONMAN will be held in Illinois. An $800,000 grant was given to the Rockford Area Convention & Visitors Bureau (Go Rockford) as part of the state’s $15 million Tourism Incentive Grant Program. The race is expected to generate upwards of $45 million in economic impact over three years.

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Stadelman: Local library awarded grant to enhance technology

ROCKFORD – State Senator Steve Stadelman announced that the Rockford Public Library was awarded a Secretary of State grant aimed at assisting public libraries in underserved communities with crucial technology advancements.

“In today’s digital age, access to technology is key for personal and professional development,” said Stadelman (D-Rockford). “By enhancing the technological capabilities of our public libraries, we are empowering residents with the tools they need to succeed. This grant will help level the playing field for those in underserved areas, ensuring everyone has the opportunity to thrive in our increasingly digital world.”

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Stadelman announces state funding for local business development organizations

• Rockford

ROCKFORD - Two local business development organizations are receiving more than $53,000 in state funding as part of Illinois' ongoing efforts to provide relief from the harmful economic impact of the COVID-19 pandemic, State Senator Steve Stadelman announced today.

Growth Dimensions for Belvidere & Boone County Inc. is being awarded $40,969 and Miracle Mile Rockford Corporation will get $12,236 in the latest round of Back to Business (B2B) Local Chambers grants. Business and professional organizations dedicated to improving the economic climate and business development of the community in which they are located qualified for the B2B grants along with traditional chambers of commerce so long as they had annual revenue of $1 million or less.

Awarded through the Illinois Department of Commerce and Economic Opportunity, the B2B chamber grants can be used to market and develop communities or provide small businesses with professional development and other support to help grow local economies. Grant amounts were determined by total annual revenue declines between 2019 and 2020 as reflected on tax returns. All eligible applicants received a grant as long as the organization met eligibility requirements and submitted proper documentation.

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