ComEd partners with communities and economic development organizations to ensure existing businesses in Northern Illinois remain economically viable while retaining jobs and investment in the communities we serve.
ComEd works closely with individual municipalities and regional economic development organizations to assist their efforts in working with growing businesses. Some of our employees also hold leadership positions on the board of directors of many of these organizations. Visit the following websites for additional information, services, and resources available. ComEd is also active in and holds leadership positions within several professional development organizations.
The Illinois Economic Development Guide magazine, Illinois - The State of Innovation, is full of area economic development, business climate and quality of life information.
ComEd is a longtime proponent of establishing proactive business outreach, visitation and retention programs because of the importance existing businesses provide to our communities. After all, it is those existing firms that are making payroll and capital investments right now. Research has shown that over 75% of new jobs are created by existing companies.
In addition, a good retention program is a valuable tool for business recruitment because if existing businesses are unhappy, new businesses considering a Northern Illinois location may change their mind and locate elsewhere. A proactive business retention and outreach program can help uncover issues that are brewing beneath the community's radar screen.
Through analysis of the information collected, specific programs and policies can be developed (or existing ones enhanced) to address the needs of the business community. Our program partners have conducted 1,000's of visits to companies representing 100 of thousand jobs throughout Northern Illinois. These companies generate millions of dollars annually for the State of Illinois, our communities, and for ComEd.
ComEd is currently helping spearhead a new statewide proactive outreach and retention effort called C.O.R.E. (Creating Opportunities for Retention and Expansion). The initiative is a partnership effort between the Illinois Department of Commerce, Intersect Illinois, the Illinois Economic Development Association, Ameren, Nicor, and ComEd. The program provides participating municipalities and economic development organizations with a standardized survey platform to collect information on the opinions and needs of manufacturing business leaders. The information collected and analyzed will been used to develop new programs and change policies to enhance the Illinois business climate.