Legislation Rep. Krishnamoorthi Championed Will Create 3,962 Jobs, Save 2,764 Jobs, and Leverage $21.3 Million in Private Investment For Cook County
SCHAUMBURG, IL – Today, Congressman Krishnamoorthi celebrates the announcement that the CARES Act, which he championed in Congress, will create 3,962 jobs, save 2,764 jobs, and leverage $21.3 million in private investment for Cook County, Illinois. These investment funds will provide enhancement of online and virtual service-delivery capacity for three of Chicagoland's leading technology and manufacturing incubators: mHUB, Matter, and 1871 Laboratories.
“This announcement of new jobs and investments in the Chicagoland region thanks to COVID-19 relief passed in Congress is yet another example of how America is on track to build back better,” said Congressman Raja Krishnamoorthi. “Investing in high-tech jobs will bolster the local economy in my district, and it’s because we took proactive measures in supporting financial relief during a once in a century pandemic. I’m looking forward to more of these announcements as more relief funding is allocated to Illinois and Cook County.”
The partnership between the three Chicagoland incubators is a direct response to tech commercialization and related startup needs created by the COVID-19 pandemic, which led to an increased need for online and virtual small business assistance. Once completed, the project will help advance the manufacturing industry in the area, create and save jobs, spur private investment, and advance economic resiliency throughout the region.