During the last week in June, Gerald Sagona, Vice President of Business Development joined Team Illinois in Washington, DC to represent the state at the SelectUSA Summit. The summit is the highest-profile event in the United States dedicated to promoting foreign direct investment (FDI.) This year’s Investment Summit returned to its familiar in-person format, providing opportunities for more investors from more markets and greater representation from economic development organizations (EDO) across the nation to engage and interact.
“The chance to represent the Rockford region, along with Intersect Illinois and the Department of Commerce and Economic Opportunity (DCEO), was very valuable. Our region is primed to attract investment given our pedigree in advanced manufacturing, workforce, and ease of distribution” said Sagona. “The Rockford region’s manufacturing capabilities are already well-known internationally. When tied with updates regarding the explosive growth of our international air cargo operations, I would expect to see additional foreign investment in Northern Illinois in the very near future”.
According to the DCEO, Foreign direct investment is crucial to the state’s economy, with over 2,600 international companies representing over 74 countries directly supporting over 380,000 jobs. The number of international companies investing increased nearly 30 percent from 2020 to 2021 – from approximately 2,000 to over 2,600.
SelectUSA is one of the many trade shows and conferences RAEDC participates at to generate leads and promote the Rockford Region as an ideal location for business expansion and attraction.
In September the team will be at the International Manufacturing Technology Show (IMTS) from September 12 – 17 at McCormick Place, Chicago, IL.