State Providing $1.4 Million Investment Package to Support Job Creation, Economic Growth
CHICAGO – Governor Pat Quinn today announced that the state is providing a more than $1.4 million business investment package to assist Accretive Health, Inc. in opening a new facility in Chicago, as opposed to Florida or Tennessee. The state’s investment package will leverage $10 million in private investment and will result in the creation of 100 new jobs. A total of 650 new jobs are expected to be created in Illinois by the company over the next several years.
“We are continuing to do everything we can to continue Illinois’ economic recovery and put people back to work,” said Governor Quinn. “The state’s investment in Accretive will create hundreds of new jobs, and is helping an Illinois-based company prepare for growth in the 21st century.”
Accretive, which was founded in 2003, manages revenue cycles for hospital systems and physicians networks. The company will be establishing a new Business-to-Business center at 231 S. LaSalle Street. These services are currently performed out of a facility in the state of Michigan. Accretive currently employs 175 people at its headquarters at 401 N. Michigan Avenue.
The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the state’s business investment package, which consists of Economic Development for a Growing Economy tax credits based on job creation and Employer Training Investment Program job training funds that will help enhance the skills of their workforce.
“Illinois has everything that a fast growing company like Accretive needs to be successful, including a top-notch workforce, a competitive business environment, and easy access to its customers. Under Governor Quinn’s leadership, we are working each and every day to ensure Illinois and Chicago remains one of the top business destinations in the world,” said DCEO Director Warren Ribley.
Illinois has added more than 50,000 jobs this year and leads the Midwest in job growth in 2010.