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Governor Quinn Announces $12 Million Investment Package to Support Nippon Sharyo Expansion

ROCHELLE–(ENEWSPF)–October 20, 2010. Governor Pat Quinn today announced a $12 million state business investment package to Nippon Sharyo U.S.A., Inc., which will support $35 million in private investment, to establish a rail car manufacturing facility in Rochelle. The project will result in the creation of 250 new jobs and retention of 15 jobs, and will support Illinois’ growing rail industry.

“Our robust supply chain, well-trained workforce, and status as America’s transportation hub make Illinois an ideal place for Nippon Sharyo to locate its U.S. headquarters and a new manufacturing facility,” said Governor Quinn. “This is a great example of how the state’s strategic investments are putting more people to work and helping Illinois companies expand.”

In Japan, Nippon Sharyo boasts the largest market share of high-speed rail rolling stock. This August, METRA awarded Nippon Sharyo the contract to build its next generation of rail cars. METRA will purchase 160 new rail cars over the next five years with $585 million provided through the Illinois Jobs Now! capital program.

“We look forward to building the rail cars of the future in our new Illinois facility,” said Nippon Sharyo U.S.A. President Frank Mochizuki. “We are grateful the state shares our vision.”

Nippon will build a new 400,000 square foot manufacturing facility and relocate its U.S. headquarters to Rochelle. This new facility will enable them to meet the Federal Railroad Administration’s “Made in America” requirements and compete for contracts to assemble high-speed rail cars as America builds its high-speed rail network.

The state’s business investment package, administered by the Illinois Department of Commerce and Economic Opportunity (DCEO), will consist of Economic Development for a Growing Economy (EDGE) corporate income tax credits based on job creation, Employer Training Investment Program job training funds and a Community Development Assistance Program grant. The company will also benefit from being located in an Enterprise Zone.

In addition, the Illinois Department of Transportation is investing $5 million through the Illinois Jobs Now! capital program to build a rail spur from the Burlington Northern Santa Fe main line to the new factory. The siding will open up 12,000 new acres for future development. An additional $2 million investment will come from IDOT’s Economic Development Program.

“Governor Quinn has worked with manufacturers of all sizes to move to and stay in Illinois,” said DCEO Director Warren Ribley. “This new facility is a key win as it will not only create jobs at Nippon Sharyo, but at many Illinois suppliers.”

Illinois’ manufacturing sector has added more than 10,000 jobs this year, which is the best growth rate in the Midwest. August marked the sixth straight month of growth in manufacturing jobs in Illinois.

 

Source: illinois.gov

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