INDIANAPOLIS (March 28, 2014) – The Indiana Economic Development Corporation (IEDC) encourages Chicago businesses who are stillinnoyed to move to Indiana with the launch of the state’s most recent marketing campaign designed to highlight the benefits companies gain from operating in Indiana’s business climate.
The campaign, Stillinnoyed, contrasts the Illinois business environment—marked by tax hikes and budget deficits—with the Hoosier business climate, which is supported by a stable environment and lower taxes. Debuting earlier this week and running for eight weeks throughout Chicagoland, both billboards and digital advertisements state “STILLINNOYED? No wonder.” along with an address to AStateThatWorks.com, a website that highlights the numerous reasons why Indiana is a state that works for business.
“In an increasingly competitive marketplace, companies are seeking to maximize their competitive advantage,” said Victor Smith, Indiana Secretary of Commerce. “Indiana offers companies the ultimate upper hand, with lower taxes and more affordable business costs just minutes away from downtown Chicago. When comparing Indiana to high-tax Illinois, the difference is clear.”
Earlier this week, Governor Mike Pence signed into law tax reform that encourages new job growth, including placing the corporate income tax on a reduction schedule ultimately falling to 4.9 percent, which will give Indiana the second lowest corporate tax rate in the nation. Meanwhile, Illinois’ corporate income tax rate is 9.5 percent.
The campaign complements the ongoing marketing campaign A State That Works, a national effort launched by the IEDC in spring 2013 to target business leaders in high-tax states. The creative behind the advertisements was developed by in-house talent.
Stillinnoyed digital billboards will be featured prominently inside the Ogilvie Transportation Center, a rail station in Chicago's West Loop. The station, which serves 111,300 daily visitors from three commuter lines, is located inside the Citigroup Center, a 42 floor, 1.5 million square-foot skyscraper housing business tenants and one of Chicago’s busiest food courts. Six second digital advertisements will run 1,320 times each day from 5 a.m. to midnight.
Billboards targeting business professionals will also be strategically placed throughout Chicago, including near the Monroe Street exit off of the Kennedy Expressway in the city’s financial district. In addition, billboard advertisements will be placed near Chicago Midway International Airport and Chicago O'Hare International Airport, along with a billboard near Chicago Executive Airport, a primary base for corporate jets just northwest of Chicago.
“Indiana is host to one of the fastest growing economies in the nation,” said Smith. “Companies know what to expect in Indiana—stability, balanced budgets and unlimited opportunity. With a business climate ripe for growth, Indiana is open for business.”
Indiana is ranked as the best place to do business in the Midwest and fifth nationally by Chief Executive magazine, while the same publication ranked Illinois 48th in the nation for its business climate just last year. Illinois is home to a business tax rate 2 percent higher than Indiana and the lowest credit rating in the nation. Illinois companies such as AM Manufacturing, Tec Air, Mac Medical Supply Company and Carl Buddig & Company have all recently announced their plans to make the move to Indiana, projecting to create nearly 400 new Hoosier jobs in the coming years. In recent years, 40 Illinois companies have made plans to move all or parts of their operations to the Hoosier State, accounting for more than 3,600 new jobs and more than $423 million in capital investment.
The IEDC launched its original, highly successful Illinnoyed campaign in spring 2011, in response to Illinois’ decision to dramatically increase corporate and individual tax rates.
A full Indiana vs. Illinois cost comparison can be viewed here.
About IEDC Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC. The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. For more information about IEDC, visit www.iedc.in.gov.
Media Contact: Katelyn Hancock (IEDC) – 317.234.2294 or email@example.com