IL HB1544

Department of Commerce and Economic Opportunity must develop a strategic economic development plan by July 1, 2014, with annual modifications by July 1 each year and full review every 5 years.

Economic development plan shall include specific, measurable goals focusing on job creation, retention, tax base enhancement, workforce development, infrastructure, and areas of high unemployment or poverty.

Creates the Illinois Business Development Council with 12 voting members appointed by the Governor, including representatives from small business, manufacturing, agriculture, technology, labor, and two at-large members from high-unemployment areas.

Council shall develop strategic business development and marketing plans for the State, seek input from local economic development officials, and provide research on best practices for business attraction and retention.

Department must require recipients of state financial incentives (tax credits, grants, loans) to report quarterly on jobs created or retained, including job classifications, wages, and employment details.