University Park, IL–(ENEWSPF)–September 6, 2016. As a result of the ongoing Illinois budget crisis, Governors State University will be closing its Illinois Small Business Development Center and its Illinois SBDC International Trade Center effective December 31, 2016. Clients of the SBDC will be notified immediately and referred to other no-cost business development services.
“This was a difficult decision,” said GSU President Elaine P. Maimon. “The Illinois SBDC has been the definitive resource for small business owners and entrepreneurs in the Chicago Southland. We wish that we could keep the Center open, but we have no choice but to put students first. With a 70 percent cut in state appropriations for FY16 and only a six-month, stop-gap budget for FY17, we must reallocate the funds currently used to match Federal and State dollars to departments which will maintain our high quality of student service.”
For more than 30 years, the Illinois SBDC at GSU has worked closely with entrepreneurs and small business owners to help jump start their business endeavors. From providing assistance with business plan development to acquiring financial support and investment, GSU SBDC has been a cornerstone of the Southland’s growing business community. It is the only Small Business Development Center within 25 miles of GSU.
The Illinois SBDC International Trade Center at GSU works closely with small and medium-sized export ready companies helping them identify markets, buyers, and investors, as well as providing technical assistance in trading, logistics, and export financing.
The impact of the Illinois SBDC at GSU on the local economy has been far-reaching, helping to create businesses, employment, and income for the region. Since 2001, the centers have helped more than 6,000 clients create 4,650 new jobs with 190 new business starts and 150 business expansions. The work of the SBDC has resulted in $155 million invested in the region and an increase of $10.9 billion in export.