Dan Seals is Assistant Director of the Illinois Department of Commerce and Economic Opportunity, and told a group assembled for the Small Business Day Awards hosted by the Entrepreneurial Support Network of West Central Illinois only two percent of all the state’s jobs have left, due to companies moving out-of-state, while two percent of the state’s jobs have gained by companies moving in to the state.
Seals says that leave about 96% of companies in the state simply aren’t going anywhere, but even that is a problem.
“Too many of our industries aren’t growing, if this was your retirement portfolio, you’d think god can we figure out how to re-balance this thing, can I get some more fast growth stock, some maybe unload the slow growth stuff, you can’t do that with the state and you wouldn’t want because with a lot of these traditional industries that aren’t growing fast anymore are still providing huge number of jobs and they’re good paying jobs, so we want to keep these industries as long as we can, but the challenge is going to be how do we support both?”
Seals is referring to both job creation and job retention. He says another concern is that small businesses aren’t doing as well as the state would like.
He says that can be helped by better promoting the various programs and tax credits for small businesses.
You can see a list of Small Business Award winners by CLICKING HERE.