Kankakee Times

Gov. Bruce Rauner announced a new private non-profit organization Wednesday that will take the reins of the state's economic development initiative.

The Illinois Business and Economic Development Corporation (IBEDC) was incorporated last week with a mandate to improve the state's job market and overall competitiveness. According to the Department of Commerce, Illinois ended 2015 with 3,000 fewer jobs than it started the year with as well as 100,000 fewer people and 14,000 fewer manufacturing jobs.

Officials said the new organization is an attempt to put more energy and resources into economic development without depending on the existing infrastructure, which is often inundated with other priorities.

"We must take decisive, focused action if we are going to reverse our state's economic decline and put Illinois back on the path to growth and prosperity," Illinois Department of Commerce Directors Jim Schultz said. "The rigid structure and suffocating bureaucracy of the Department of Commerce hinder our ability to attract businesses to Illinois and to drive economic development. A mere 14 percent of Department of Commerce staff is dedicated to economic development activities, limiting the resources to attract and to retain business, which is a disservice to Illinois businesses and taxpayers."

The IBEDC will focus on sales, marketing and customer service, following the models of state and local economic development groups. The model was recommended by the governor's transition committee and will be implemented by leaders from the business community and the Illinois Department of Commerce & Economic Opportunity.