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Aerospace Jobs Aplenty In Northern Illinois

Aug 24, 2012

The aerospace industry in northern Illinois will have hundreds of jobs to fill in the coming years. That’s due to a major expansion in the Rockford-area.

Woodward Expanding Its Rockford Area Base

Aug 23, 2012

Governor Pat Quinn was on hand for a major jobs announcement in northern Illinois Thursday morning.  Woodward Incorporated says it will build a second campus in Loves Park. The aerospace manufacturer's local expansion will result in more than 600 new jobs over the next five years. 

The Whiteside County portion of a proposed wind farm near Deer Grove won approval Tuesday from the county board, while the Ogle County Board okayed a special-use permit for a wind farm near Baileyville.

Subject to conditions, Ireland-based Mainstream Renewable Power can build seven turbines in far southeastern Whiteside County. The board also approved two others, but officials said those need to get the nod from the Deer Grove village board.

That's exactly the same headline as back in May, when the company reported record performance for the second quarter. This morning, Deere reported third -quarter net income totaled $788 million, or $1.98 cents per share, compared to $1.69 a year ago. It's the ninth consecutive quarter the company has reported record earnings. In addition, revenue and net sales jumped 15 per cent in the third quarter.

In 2011, Illinois saw a net gain in manufacturing jobs. The Illinois Manufacturers' Association says it was the first time that has happened since the late 1990's. The association says there are several contributing factors, including the growing cost of producing products in China.

U.S. Won't Prosecute Goldman In Fraud Probe

Aug 10, 2012

The Justice Department said Thursday it won't prosecute Wall Street firm Goldman Sachs or its employees in a financial fraud probe. In a written statement, the department said it conducted an exhaustive investigation of allegations brought to light by a Senate panel investigating the 2008-2009 financial crisis.

A series of five public hearings will be held this month to seek comment on the draft Environmental Impact Statement for high-speed rail from Chicago to St. Louis.

Alternatives for accommodating higher speeds and additional round trips were narrowed down based on criteria that included residential and commercial impacts, travel time reductions, safety and environmental impacts.

Simon says today is ‘The Onion Day’

Jul 31, 2012
iilinois.gov

Praising The Onion for uniting its business and editorial operations in Chicago, Lt. Gov. Sheila Simon has declared today “The Onion Day” to celebrate the digital media company’s consolidation of its headquarters in Illinois.

Formerly based in Madison, Wis., with its editorial staff headquartered in New York City, The Onion consolidated its media operations in Chicago this month, which will include a new studio for digital video production.

Local, state and federal officials joined with representatives of private industry July 27th to break ground on an expansion of the City of Rochelle Railroad.

15 private and governmental entities were involved in developing the nearly $5 million project, the bulk of which will be paid for by federal and state grants.

State Representative Bob Pritchard says the effort serves as a good example for the rest of the country.

GDP Report Confirms Fears Of Economic Slowdown

Jul 27, 2012

The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.

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