Reasons that make Illinois a clear choice for job creation

In today's business climate, numerous factors will lead to a decision regarding a business' new location. Illinois' central location, abundant water and natural resources, world-class transportation and logistics network, low-cost and reliable energy sources, highly educated workforce and robust innovation ecosystem makes Illinois a clear choice for job creation.

As a privately funded nonprofit, Intersect Illinois' sole purpose is to position the state of Illinois as one of the most innovative locations in the world. Our mission is to bring new jobs, new investment and economic prosperity to the state of Illinois through dynamic partnerships and collaborations with companies, universities, not-for-profit organizations and the government to deliver a unified approach to economic development.

Intersect Illinois is working hard to be the one-stop shop for those looking to bring their opportunities to Illinois, utilizing its relationships with local and statewide government and development agencies to make the transition at the speed of business. Together, we are Team Illinois and represent a business' next opportunity to succeed in the Midwest and beyond.

With GDP more than double our nearest neighbors Illinois is the undisputed economic leader of the Midwest economy and yet in recent decades Illinois has failed to take full advantage of its leadership position. The creation of Team Illinois, led by Intersect Illinois, brings with it the promise for a different path forward.

And it is already working. In 2017 alone new and expanding companies invested $5.3 billion in to the state of Illinois creating more than 26,000 new jobs. 551 new projects statewide, hosted in 128 different cities throughout the state, ranked Illinois 3rd for the most new projects in America, trailing only Texas and Ohio.

Also, key to the economic renaissance underway in Illinois is the opportunities presented by foreign direct investment (FDI). FDI plays an essential role in ensuring U.S. economic growth and prosperity, creating highly-compensated jobs, spurring innovation, and driving exports. Companies see the U.S. as an investment in a competitive advantage - access to American markets, a skilled workforce, a climate of innovation, thriving capital markets, and a stable business environment. Foreign-owned companies are vital contributors to Illinois' economy and a new source of revenue.

Using targeted research data Intersect Illinois has developed a comprehensive FDI strategy focused on key industry sectors like advanced manufacturing, business and professional services and agribusiness and food processing as well as targeting the strongest potential partners in western Europe, Asia and North America. With more than 1,800 foreign owned companies already calling Illinois home and contributing more than $100 billion to the state's GDP, the future potential for growth is tremendous.

Intersect Illinois is promoting the state's assets to the world including the planning and execution of recent jobs missions to Asia (visiting Japan and China in September 2017) and to Europe (visiting Poland and Germany in April 2018), both missions included the State's chief executive, Governor Bruce Rauner.

In addition, Intersect Illinois' business development team has traveled to Italy twice in the past nine months with additional mission trips scheduled for Canada and the United Kingdom in late 2018. By attending trade shows and trade summits, such as Select USA (the largest FDI event in the US), Intersect Illinois and its economic development partners can seek out face to face meetings and engage in relationship building with those in the FDI field, from site selectors to business leaders to corporate executives.

Illinois is once again asserting itself as the rightful leader of the Midwest economy boosting the world's 17th largest economy and a host of the most sought-after assets for business growth and profitability. The project pipeline for Intersect Illinois has tripled in the past ten months and as we market the State's rich assets around the globe the opportunities will continue to expand.

In Illinois, businesses will meet their greatest opportunity for success finding proven strength across multiple industries, exceptional and abundant talent, an unparalleled infrastructure network, and strong public support and partnerships. Illinois is on the move and open for business. We invite everyone to join us as ambassadors to spread the good news about Illinois by visiting our website at intersectillinois.org.

• Mark Peterson is president & CEO of Intersect Illinois.