STERLING – The former director of Whiteside County Economic Development, Betty Steinert, has been named to the board of a new agency the state has formed to partially privatize its economic development efforts.
In February, Gov. Bruce Rauner established the Illinois Business and Economic Development Corp. through an executive order. The cumbersome name resulted in the agency being rebranded Intersect Illinois on July 25.
When making the announcement, Rauner said the new organization would be made up of business, industry, and civic leaders from throughout the state. The governor has promised that none of the funding for the agency would come from the state’s taxpayers.
“This model will make us more competitive and put Illinois back in the game after years of sitting on the sidelines, idly watching neighboring states and others lure businesses and jobs away from Illinois,” Rauner said.
Intersect Illinois, which is loosely modeled after a similar public-private development partnership in Chicago, will do some of the work once done by the Illinois Department of Commerce and Economic Opportunity.
The nonprofit agency will market the state to global business leaders, and use private capital to negotiate incentives for bringing more business to Illinois. DCEO will oversee the new agency and have the final say on incentives.