The Governor is Providing a Nearly $3.2 Million Business Investment Package That Will Help Create 130 New Jobs

CHICAGO – Gov. Rod R. Blagojevich announced today that the Big Ten Network will locate its corporate headquarters and state-of-the-art media center in Chicago.  The Governor is providing a nearly $3.2 million business investment package to support the Big Ten Network, which is scheduled to launch in August 2007.  By bringing its headquarters and studios to Illinois, the Big Ten Network will create 85 new jobs over the next two years and a total of 130 jobs after three years.  The company will be investing nearly $18 million in its new facility at 600 West Chicago Avenue.  

“The Big Ten Network understands that Chicago is more than just a terrific sports town, but it is also a fantastic place to launch and grow a business.  By encouraging innovation and investment, not raising taxes and working together with these types of emerging companies, we are creating an appealing business environment that is creating better jobs for more people in Chicago and across the state,” Gov. Blagojevich said.

“Like our Olympic bid, the launch of this network in Chicago is one more indication of Chicago’s long-term commitment to amateur and Olympic sports,” said Mayor Richard M. Daley.  “We love athletics at every level, and that includes the Big Ten.  Chicago is filled with Big Ten graduates.  If you walk through many of our neighborhoods on a Saturday afternoon in the fall, you’ll see banners of Big Ten schools hanging on front porches and apartment windows.”

“The Big Ten Conference was created in the city of Chicago more than a century ago, so it's fitting that the Big Ten Network will be based in the same city,” added Big Ten Commissioner James E. Delany.  “Chicago is passionate about college sports and education, which makes it the perfect place for a network dedicated to collegiate athletics and university life.”

The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the business investment package.  It includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over the next ten years based on job creation; Employer Training Investment Program (ETIP) job training funds that will help the company enhance the skills of its workforce; and additional financial benefits, such as sales tax exemptions and tax credits for job creation, resulting from the company’s location within an Enterprise Zone.

 “We greatly appreciate having state and local officials work with us to establish the Big Ten Network headquarters in Chicago,” said Big Ten Network President Mark Silverman.  “It’s a tremendous feeling to know that this new enterprise, in addition to providing the country’s top collegiate athletic conference a national outlet for its premier athletic events and compelling school-related programs, is going to have a positive impact on the local economy.”

 “Gov. Blagojevich has proven time and time again to be a friend of business.  The Big Ten Network could have located anywhere, but it chose Illinois.  I look forward to continue working with the company as it grows and adds even more jobs,” State Senator Mattie Hunter (D-Chicago) said.

 “I want to thank Gov. Blagojevich for all of his support, and I want to thank the Big Ten Network for believing in our state.  This partnership will produce even more of those highly coveted, high paying jobs right here in Chicago.  Once again, the Governor has delivered on his promise to create jobs,” State Rep. Ken Dunkin (D-Chicago) said. 

“Gov. Blagojevich and I are excited to be bringing a winning team like the Big Ten Network and good, new jobs to Chicago.  By partnering with innovative companies, we’re giving them the tools they need to increase their competitiveness, reach new markets and keep our economy moving forward,” DCEO Director Jack Lavin said.

Illinois led the nation in monthly job growth this year in both April and July, which has never happened twice before in one year in recorded history.  The total number of new jobs created this year is 77,300, which is the best start to a year since 1999 and best in the Midwest.  Since January 2004, Illinois has gained more than 152,000 new jobs, which is also best in the Midwest.

In October, the Illinois unemployment rate dropped to 4.1 percent, which is its lowest level in recorded history.  It has remained at or below the national rate for six consecutive months, which is the first time this has happened in seven years.  The federal Bureau of Labor Statistics and the Illinois Department of Employment Security compiled these statistics. 

Site Selection Magazine also ranked the Chicagoland area the top metro region for new and expanded corporate facilities in 2005, while Illinois was ranked third in the nation. 

For more information regarding the Big Ten Network, visit www.bigten.org.  For employment opportunities, interested candidates should submit resumes to bigten.jobs@fox.com.
 
The Big Ten Network, scheduled to launch in August 2007, is dedicated exclusively to the Big Ten Conference and will be the destination for Big Ten fans across the country.  Operating 24-hours a day, 365-days a year, the Big Ten Network is majority-owned by the Big Ten Conference, while Fox holds a minority interest in the network.  Showcasing a wide array of classic-to-current sports, as well as original programming produced by the conference’s 11 institutions, it will be available to all carriers and distributors nationwide.