SPRINGFIELD, IL-The Illinois House will now review a bill passed by the Senate on Tuesday that will require the state's Department of Commerce and Economic Opportunity to formulate a five-year plan with “specific, measurable, attainable, relevant and time-sensitive” goals.

The Senate bill is geared to providing more transparency and accountability at the DCEO, according to the Chicago Tribune. The bill would also mandate businesses that secure state incentives to file quarterly reports on the number of jobs it created and retained and maintain an annual list detailing the occupation of their employees and average wages paid to them.

The bill also creates a business council that would help market the state and assist DCEO with business attraction and retention strategies.

“The bill, as it stands today, reflects partnership between the department and several lawmakers to leverage private sector support for the marketing and the promotion of the state,” states Sandy Jones, a DCEO spokeswoman.

The legislation now goes to the Illinois House. See story in the Chicago Tribune.

Instant Insights /

Illinois Senate Wants Five-Year Economic Development Plan

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