State Investment Package Will Support Creation of 105 New Jobs, Continued Economic Growth
CHICAGO – December 20, 2010. Governor Pat Quinn today announced that SunCoke Energy, a subsidiary of Sunoco, Inc. (NYSE: SUN), is investing $6.6 million to relocate its corporate headquarters from Knoxville, Tenn. to Arboretum Lakes in Lisle. The state is providing a $4.8 million business investment package to support the project, which will create 105 new jobs.
“By choosing Illinois as its home, SunCoke is making a wise decision that will put it in an extremely competitive position for future growth,” said Governor Quinn. “Illinois has again shown that we have the right resources to attract and keep companies in the state, and that we know how to help businesses thrive.”
SunCoke announced in September that it intended to relocate its headquarters following its separation from Sunoco in 2011. The company conducted a search for its new corporate headquarters with the key criteria being domestic and international air service, and the ability to recruit and retain professional talent. The search began with eight large metropolitan areas in the Eastern half of the United States. The greater Chicago region - and specifically DuPage County - proved to be the best location for SunCoke Energy’s new headquarters due to the competitive business climate, central location, transportation assets and strong workforce. SunCoke also has a manufacturing facility in Granite City, Ill. that currently employs 110 people.
“The greater Chicago area has the resources and infrastructure to fully support the next phase of our company’s growth. We are pleased to be increasing our presence in the Illinois business community,” said Frederick A. “Fritz” Henderson, who will serve as chairman and chief executive officer of SunCoke Energy upon its separation from Sunoco, Inc. “We thank Governor Quinn and his state economic development team, as well as DuPage County and the Village of Lisle, for their assistance in making this relocation work.”
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 (EDGE) corporate income tax credits based on job creation and Employer Training Investment Program (ETIP) funds.
“SunCoke has had a presence in Illinois for a number of years, and we are thrilled to add them to our corporate ranks. As they enter the next phase of their business, we hope this will be a sign of more good things to come,” said DCEO Director Warren Ribley.
For more than 45 years, SunCoke Energy has furnished high-quality metallurgical coke to integrated steel makers that utilize blast furnace technology. In the U.S., SunCoke Energy produces over 3.5 million tons of metallurgical coke per year, 25 percent of total U.S. production.
Illinois has added nearly 55,000 jobs this year, including 9,600 manufacturing jobs.