Allstate Insurance Co. Celebrates Facility Opening Made Possible Through $50 Million Private Investment That Will Create New Area Jobs
CHICAGO – Gov. Rod R. Blagojevich today announced a more than $278,000 business investment package to Allstate Insurance Co., the country’s largest publicly held personal lines insurer, to help the company establish a new 60,000 to 70,000 square foot data center facility in Rochelle. The company, which recently acquired 25 acres of land in the Rochelle Tech Park, will be making a substantial private investment towards land and building costs and will create nine new, full-time jobs over the next two years. This support comes as a part of Opportunity Returns, the Governor’s comprehensive economic development strategy to create better jobs and spur even more growth in the Rock River Valley and throughout the state.
“We are very excited to be working together with Allstate, an incredibly successful company with a rich history in Illinois, as it establishes this impressive, state-of-the-art facility in Rochelle. By investing in companies that are investing in Illinois, we are creating a stronger business climate where world-class companies like Allstate can easily expand and create better jobs for more people,” Gov. Blagojevich said.
“On behalf of Allstate, we are excited to be expanding our presence in Illinois, where we employ more than 9,000 associates and provide a full menu of insurance products through more than 650 agencies,” said Catherine Brune, Allstate Senior Vice-President and Chief Information Officer. “We invest significantly in the state with nearly $1.5 billion in municipal bond holdings and spend some $1.1 billion annually in business to business expenditures. This new data center facility will provide Allstate with additional hosting capacity for its business applications. We expect to make an additional multi-million dollar investment for computer related equipment in the facility over the next several years. Our thanks to Gov. Blagojevich for the state’s support in providing a competitive package to help us establish this new facility in Rochelle.”
The Illinois Department of Commerce and Economic Opportunity will administer 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; an infrastructure grant to the City of Rochelle to assist with water and sewer extensions; and Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of its workforce.
“To continue developing a strong regional economy, Gov. Blagojevich is committed to making the right kinds of localized investments in our expanding companies that lead to more good jobs. This investment package for Allstate is doing just that, and we look forward to its growth with this new, high-tech facility in Rochelle,” DCEO Director Jack Lavin said
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the “You're In Good Hands With Allstate®” slogan, Allstate helps customers access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate®. Encompass® and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.
Since January 2004, Illinois has gained more than 186,000 jobs, which is more than any state in the Midwest. Illinois led the nation in new job growth in January with 19,100 new jobs and in June of this year with 12,400 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.