What's Happening?
Richardson Electronics, Ltd., a global manufacturer of engineered solutions, announced plans to expand its operations in La Fox, Illinois, with a capital investment of over $8.5 million. Supported by the Reimagining Energy and Vehicles in Illinois (REV Illinois) program, the expansion aims to retain nearly 200 skilled employees and create 54 new full-time jobs. The company will focus on developing next-generation battery energy storage systems (BESS) to enhance electric grid stability, reduce electricity costs, and support renewable energy integration. This initiative is part of Illinois' commitment to building a clean energy economy, attracting investments from companies like Richardson Electronics.
Why It's Important?
The expansion of Richardson Electronics' operations in Illinois signifies a boost to the state's clean energy economy, creating new jobs and reinforcing its reputation as a leader in clean energy innovation. The development of advanced energy storage systems is crucial for addressing brownouts and supporting renewable energy integration, which can lead to reduced electricity costs and enhanced grid stability. This move aligns with Illinois' Economic Growth Plan, which targets clean energy production and advanced manufacturing as key industries for growth, supported by incentives like the REV Illinois tax credit.
What's Next?
Richardson Electronics will proceed with equipment and structural upgrades to facilitate the research, development, and production of BESS technologies at its Illinois facility. The company will continue to collaborate with local leaders and the Illinois Department of Commerce and Economic Opportunity to ensure the project's success. The expansion is expected to attract further clean energy investments to Illinois, contributing to the state's economic growth and transition to a sustainable energy future.
