Illinois World Trade Center: It's Not Just For Chicago By GEORGE H. RYAN, Lieutenant Governor

Reflecting back over the accomplishments of 1988, certainly one of the most satisfying has been my involvement in the establishment of a new World Trade Center in Chicago. This new undertaking — which I am involved in through my chairmanship of the Illinois Export Council — will bring benefits to every corner of the State.

In 1986, the Illinois Export Council recommended that the State develop a World Trade Center to serve as a "one-stop shopping center" for small businesses and agencies involved with international trade. That legislation required the Export Council to develop and implement plans for a World Trade Center and report to the General Assembly within one year.

The Export Council moved quickly during 1987 to request proposals from the private sector for WTC projects and in September submitted a formal request for approval to the World Trade Centers Association. The WTCA, a worldwide organization of 200 members from 64 countries, approved the designation of a new Illinois World Trade Center to be located in downtown Chicago. The project application was jointly submitted by the Illinois Export Council and BCE Development Properties, Inc.

The 4 1/2 acre center consists of the 1 million square foot Quaker Office Tower, the 400 room luxury Hotel Nikko, a new 45 story World Trade Center Tower (under development), and a 600 unit residential complex (under development). Upon completion of the $1 billion complex will consist of 3.5 million square feet of commercial and residential space (all constructed without State dollars) making it the second largest World Trade Center in America. With the creation of the Illinois World Trade Center, Chicago, Illinois businesses will now have access to the same services and competitive advantages available to other WTC members throughout the world.

Most importantly the services of the Illinois World Trade Center, Chicago, will not be available to Chicago-area businesses alone. The World Trade Center facility and services in Chicago will be connected with satellite centers throughout Illinois. These locally-based centers — coordinated by the Illinois Department of Commerce and Community Affairs (DCCA), the Illinois Export Council and the Illinois World Trade Center, Chicago — will allow all Illinois businesses to access the services and share in the benefits of a WTC. These satellite centers will also connect Downstate Illinois with the international presence already in Chicago, including over 70 foreign bank branches, over 60 foreign consulates, more than 120 export management or trading companies, and over 100 international freight forwarders and custom house brokers.

To accomplish this objective the Export Council will join with DCCA's Small Business Assistance Bureau to establish these satellite centers in conjunction with the existing network of Small Business Development Centers and Technology Commercialization Centers throughout the State.

Why is the World Trade Center project so important? Overseas sales provide jobs for over 300,000 Illinois workers. And exports from Illinois companies account for about 19% of their total sales. Still, much of Illinois' international trade capabilities remain untapped. Only about 5% of our manufacturers export, while over 3,000 additional firms have the capability to profitably export but are not currently doing so. With every $1 billion in new exports creating over 20,000 new jobs it is imperative we provide our business community with the tools to tap the tremendous international trade potential that currently exists.

For further information on the Illinois World Trade Center or the new Export Assistance Centers contact: Lieutenant Governor George H. Ryan, Illinois Export Council, Illinois World Trade Center, 321 North dark Street, Suite 550, Chicago, Illinois 60610. Phone: 312-793-IWTC. •

Page 6 / Illinois Municipal Review / January 1989