What's Happening?
Governor JB Pritzker, alongside the Illinois Department of Commerce and Economic Opportunity, announced that Richardson Electronics, Ltd. will expand its operations in Kane County, Illinois. The company plans to invest over $8.5 million in its manufacturing headquarters in La Fox, Illinois, supported by the Reimagining Energy and Vehicles in Illinois (REV Illinois) program. This expansion aims to retain nearly 200 skilled employees and create 54 new full-time jobs. Richardson Electronics will focus on developing next-generation battery energy storage systems (BESS) technologies to enhance electric grid stability, reduce electricity costs, and support renewable energy integration. The initiative reflects the company's commitment to innovation and long-term growth, with support from local leaders and the DCEO.
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Why It's Important?
The expansion of Richardson Electronics is significant for Illinois as it strengthens the state's position in the clean energy sector. By investing in battery energy storage systems, the company contributes to the stability and efficiency of the electric grid, which is crucial for integrating renewable energy sources. This move aligns with Illinois' clean energy goals and economic growth plan, which prioritize advanced manufacturing and clean energy production. The creation of new jobs and retention of existing ones will bolster the local economy and provide opportunities for skilled workers. Additionally, the development of BESS technologies addresses critical infrastructure needs, making Illinois a leader in clean energy innovation.
What's Next?
Richardson Electronics will proceed with equipment and structural upgrades at its Illinois facility to research, develop, and produce BESS technologies. The company will continue to collaborate with local leaders and the DCEO to ensure the success of this initiative. As part of the REV Illinois program, Richardson Electronics will receive tax credits for its capital investment and job creation efforts. The company aims to demonstrate the commercial viability of long-duration energy storage, which could lead to further advancements in renewable energy integration and grid stability.
