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Found Money Seminar For Franklin Park Business Luncheon November 29, 2012 OPENING DOORS OF OPPORTUNITY © 2011 Alliance for Illinois Manufacturing.

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Presentation on theme: "Found Money Seminar For Franklin Park Business Luncheon November 29, 2012 OPENING DOORS OF OPPORTUNITY © 2011 Alliance for Illinois Manufacturing."— Presentation transcript:

1 Found Money Seminar For Franklin Park Business Luncheon November 29, 2012 OPENING DOORS OF OPPORTUNITY © 2011 Alliance for Illinois Manufacturing

2 What is our Market? As a Region – Chicagoland would be the 5 th largest world economy – GDP - $2.6 TRILLION. Chicago Metropolitan Area - $531 Billion = 21 st largest world economy Chicagoland Manufacturers rank 2 nd nationwide in number of manufacturers Most Diverse Manufacturing base/GRP - $65.5B 13% of Illinoiss GDP/95% of all exports Most companies are 50-100yrs old; 50-100 employees; closely held; mature product; $10M sales OPENING DOORS OF OPPORTUNITY

3 Membership Organization What we do - Leverage Resources More than 100 local, state and federal programs: Grants: employee training, energy efficiency, product development, and business planning. Low-cost loans: building expansion, new capital equipment, business acquisition, working capital, and new customer development. Tax Incentives: workforce development, research and development, training, and business expansion. Technical services: business planning, financing, market and customer development, product development and lean enterprise initiatives. OPENING DOORS OF OPPORTUNITY

4 Commonly Used Programs Workforce Investment Act (WIA) Free placement services On the Job Training 50% wage reimbursement for up to 180 days Reverse Referrals are allowed but we must source first WIA Incumbent Worker Training Up to 90% reimbursement on cost of employee training Covers Internal Training, limited to upgrading job specific skills OPENING DOORS OF OPPORTUNITY

5 Commonly Used Programs Incumbent Worker Training Program State grant that reimburses 50% of employee training costs Grant period is from 1/1/12 – 12/31/12 Does not cover sales or HR related training OPENING DOORS OF OPPORTUNITY

6 Commonly Used Programs Alliance Energy Program Created and managed by Optimal Facility Management Solutions – average savings 15% Aggregate the energy demand of manufacturers and bid out to market Manage energy portfolio for members on forward going basis Provides free energy audit Provide ROI in audit that includes available grant fund (i.e. SBIF, ComEd Rebates, EPAC tax credits) OPENING DOORS OF OPPORTUNITY

7 Commonly Used Programs Alliance Transportation and Logistics Program Average savings of over 14% on LTL shipping Free analysis of current shipping costs Creation of custom optimized LTL tariffs Carrier contract and negotiation Internet based rating and routing software OPENING DOORS OF OPPORTUNITY

8 Commonly Used Programs Small Business Administration Programs 7a – most commonly used program $5 million loan at a fixed rate Can be used for real estate, equipment and working capital 504 Program Up to $20 million Company comes up with 10%, independent non profit 40% and bank 50% Can only be used for capital equipment and real estate WE STAND STRONGER TOGETHER

9 Commonly Used Programs Cook County Property Tax Abatement Programs Assessed at 16% instead of 36% Duration of 10 years with opportunity to renew If not approved for renewal taxes are phased up for the next 3 years Site must be abandoned or significant new construction = 20% greater footprint Political by nature OPENING DOORS OF OPPORTUNITY

10 Commonly Used Programs Research and Development Tax Credits Purpose is to incentivize companies to innovate Targets development of new or improved products and processes Qualified expenses can include employee salaries and wages, supply expenses, and contract research expenditures Trade Adjustment Assistance 50% Grant to assist with loss of employment or sales – up to $75,000 – flexible uses OPENING DOORS OF OPPORTUNITY

11 Client Resource Centers WE STAND STRONGER TOGETHER Alliance Client NAFTA and Latin America Trade Center (NLTC) Illinois Department of Commerce & Opportunity assists: Export readiness analysis of your company Development of foreign market research International business development (Companies buying yours or similar products in Latin America) Free Trade Agreements (FTAs) Assist with providing export and custom compliance International Trade Center (ITC) Illinois Department of Commerce & Economic Opportunity advises: Companies selling in foreign markets Assists with market research Export regulations Export documentation Financing Procurement Technical Assistance Center (PTAC) U.S. Department of Defense- Defense Logistics Agency and Illinois Department of Commerce & Opportunity: Develops marketing strategies for industries to procure sales for local, state and federal governments. Assists minority, veteran and women owned businesses with certifications and provides guidance through GSA. Identifies government agencies that procure products and services and assist registration for the bid list. Small Business Development Center (SBDC) U.S. Small Business Administration and Illinois Department of Commerce & Economic Opportunity advise entrepreneurs and existing companies: Management issues Business plan development Strategic planning Marketing Equity and debt financing

12 Phased Planning and Execution OPENING DOORS OF OPPORTUNITY A one hour meeting to Introduce the Alliance for Illinois Manufacturing Programs and Services. Assess company needs and opportunities. Post meeting follow-up: Alliance to e-mail company Needs and Opportunity Assessment Survey – company to complete and return to Alliance by e-mail. NO CHARGE A follow-up one hour meeting Based on the completed Needs and Opportunity Assessment Survey, company will be presented with Local, State and Federal resources that meet assessed needs and opportunities. Company determines which resources it is interested in pursuing and a Work Plan is negotiated. NO CHARGE A Work Plan Proposal will be sent to client after Meeting 2 outlining objectives, deliverables and time line for implementation. The time line for implementing the Work Plan varies from company to company and is determined by need and eligibility. MEMBERSHIP REQUIRED This program is offered in partnership with NORBICs Small Business Development Center and is provided at no charge to Illinois companies. Phase 1 Company Assessment Phase 2 Resource Report Phase 3 Plan for Transformation

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