This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chicago Clean Energy Project Will Continue Chicago's Economic Growth Trend

$3 billion investment provides economic boom and job creation for Illinois

CHICAGO, Aug. 3, 2012 /PRNewswire-USNewswire/ -- Chicago Clean Energy, a $3 billion state-of-the-art gasification project proposed for Chicago's Southeast Side, will provide a huge economic boom for Illinois, creating jobs and making strides and advancements in energy technology.  

Like Motorola Mobility's planned relocation moving jobs to Chicago, the Chicago Clean Energy project is another major investment in Chicago and the State of Illinois. In this case; however, the project will create more than 2,000 new jobs throughout the state, further positioning the city and the state for long-term economic growth.

"We applaud major companies for moving jobs to the city and are particularly encouraged by new job creation from projects like Chicago Clean Energy that will further bolster our economy," said Kimi Ellen, president of the board of the Southeast Chicago Chamber of Commerce. "We need this project to help revitalize our community and breathe life into our local economy."

The Chicago Clean Energy project is expected to create more than $10 billion in economic output for Illinois and an estimated $1.25 billion in added state and local tax revenue. This includes more than 1,100 construction jobs over three years, 200 permanent, high-paying jobs on-site, more than 150 coal-related jobs downstate, generating more than 700 jobs in related businesses. This state-of-the-art plant will exceed all federal emissions standards, and be among the cleanest facilities in the world. 

"As Chicago's tech hub continues to gain momentum, it's important for our economy to explore and support programs that will ensure stability and growth for our communities," said Ellen. "Chicago Clean Energy is an investment on a scale we have never seen, bringing new jobs to Chicago and further positioning us as a leader in technology."

The Chicago Clean Energy project has been vetted by the State of Illinois over a five-year process, during which time the Governor already has signed four pieces of legislation, each of which passed both chambers of the Illinois General Assembly by wide margins, with strong statewide support from both political parties. The Governor currently is considering action on SB 3766, which enjoyed similar support in the General Assembly, to implement the prior policy decisions of the General Assembly and the Governor.

"Gasification is the future and our clean energy technology is an integral component of a comprehensive energy plan for Illinois," said Hoyt Hudson, project manager for Chicago Clean Energy. "We are hopeful Governor Quinn will approve the measure and put Illinois at the forefront of new clean energy technology and new jobs."

"There is great momentum moving our business and technology communities forward," said Ted Stalnos, president of the Calumet Area Industrial Commission. "We need to continue that trend and move the Chicago Clean Energy project forward."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.72 -1.20%
FB $117.63 0.77%
GOOG $694.09 0.44%
TSLA $240.79 -2.80%
YHOO $36.67 0.22%


Chart of I:DJI
DOW 17,780.73 -50.03 -0.28%
S&P 500 2,063.54 -12.27 -0.59%
NASDAQ 4,772.1850 -33.1060 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs