CHICAGO – Gov. Rod R. Blagojevich today announced the awarding of an almost $11.8 million business investment package for Cardinal Health, a global health care supplier and services company, to help it retain a substantial number of jobs in Lake County. The company will keep about 1,800 jobs in Northern Illinois and secure space to house its offices, research and development labs, packaging center and other local operations. Cardinal Health businesses in Northern Illinois include its $2 billion Medical Products Manufacturing segment, a packaging center that produces surgical kits, a major Midwest distribution center and a range of customer sales, service and warehousing departments. Cardinal Health employs about 2,500 people across Illinois. The business investment package comes as a part of Opportunity Returns, the Governor’s comprehensive economic development strategy to continue creating jobs and spurring more growth in Northeast Illinois and throughout the state.
“Cardinal Health has been an important employer in Lake County, and we’ve done everything we could to make sure that continues to be true. We’ve made a strong commitment to Cardinal Health, and it has made an equally strong commitment to Illinois. By investing in companies that are investing in Illinois, we’ve built a business climate that is encouraging innovation and creating and retaining more good jobs,” Gov. Blagojevich said.
Mike Lynch, group president of Medical Products Manufacturing for Cardinal Health, said, "Northern Illinois continues to be an important location for Cardinal Health and home to a large number of our employees. The support from the state of Illinois and its current business climate played an important role in our decision to keep a large portion of our business presence in the area."
DCEO is administering the business investment package that includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over ten years based on job retention and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of its workforce.
“Cardinal Health has an important history in the community, and we are very happy that it is going to remain an economic engine for Lake County. Gov. Blagojevich and I understand that by listening and responding to the needs of companies like Cardinal Health, we’re helping lay the foundation for more good jobs and investment in our communities for today and tomorrow,” State Senator Terry Link (D-Lake Bluff) said.
“We certainly understand that Cardinal Health had many different choices, and we are very pleased that it has decided to keep a substantial number of people on the job here in Lake County. I want to thank Gov. Blagojevich for his support, and I know we will continue working closely with the company to create more jobs in the future,” State Representative Kathleen Ryg (D-Vernon Hills) said.
“We worked together very closely with Cardinal Health to keep these good jobs in Illinois, which means it will continue making an important economic impact throughout the region. By ensuring companies like Cardinal Health have a top of the line workforce and facilities, Gov. Blagojevich and I are giving them the tools they need to increase their competitiveness, keep this economy moving forward and, hopefully, create more new jobs,” DCEO Director Jack Lavin said.
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an $80 billion, global company serving the health-care industry with products and services that help hospitals, physician offices and pharmacies reduce costs, improve safety, productivity and profitability, and deliver better care to patients. With a focus on making supply chains more efficient, reducing hospital-acquired infections and breaking the cycle of harmful medication errors, Cardinal Health develops market-leading technologies, including Alaris® IV pumps, Pyxis® automated dispensing systems, MedMined® data mining software and the CareFusion® patient identification system. The company also manufactures medical and surgical products and is one of the largest distributors of pharmaceuticals and medical supplies worldwide. Ranked No. 19 on the Fortune 500 and No. 1 in its sector on Fortune's ranking of Most Admired firms, Cardinal Health employs more than 40,000 people on five continents. More information about the company may be found at www.cardinalhealth.com.
Since January 2004, Illinois has gained almost 174,000 jobs, which is best in the Midwest. Illinois led the nation in new job growth in January 2007 with 19,100 new jobs. In 2006, Illinois gained 71,000 new jobs, which is the best calendar year gain since 2000. Over the last 4 years, from January 2003 to December 2006, Illinois had the second largest unemployment rate drop in the nation. The federal Bureau of Labor Statistics and the Illinois Department of Employment Security compiled these statistics.
Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.