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July 15, 2008

State’s $18 million dollar investment package and vast resources help secure merged headquarter

CHICAGO – Governor Rod R. Blagojevich announced today that Illinois succeeded in bringing the new headquarters for MillerCoors to Illinois with a $18 million investment package for the company. The state’s investment supports a $39.5 million investment by MillerCoors, and comes as a part of Opportunity Returns, the Governor’s comprehensive economic development strategy to create jobs and build the Illinois economy.
MillerCoors’ decision to create its headquarters in Illinois, which will create 300 – 400 new jobs and retain 25, was the result of great collaboration between state and city officials who quickly developed a proposal to attract the company to Chicago. Governor Blagojevich, Mayor Richard Daley and other officials met with MillerCoors’ leadership to highlight all that Chicago and Illinois have to offer.
“We are very excited to be working with MillerCoors to help establish its corporate headquarters in Illinois. MillerCoors’ choice of Chicago for its headquarters again reinforces what we already know – Illinois has great people and resources. This investment will contribute to a stronger regional economy, which will help create new jobs in the state and opportunities for the company to grow in the future,” said Governor Blagojevich who met with company officials when they came to Chicago last month.
MillerCoors is the result of the recent merger between the nation’s second and third largest brewers. MillerCoors plans to consolidate existing operations, primarily in Milwaukee, Wisconsin and Golden, Colorado, into the Chicago headquarters locations. The exact site of the headquarters will be selected within a few weeks.
“The decision to select Chicago as the location for our corporate headquarters was made to achieve our goal of becoming the best beer company in America by having access to an attractive base of talent, transportation and business resources,” said Tom Long President MillerCoors. “We are grateful to the State of Illinois and City of Chicago for their support.”
The Illinois Department of Commerce and Economic Opportunity (DCEO) is administering the business investment package. It includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over the next 15 years based on job creation, Employer Training Investment Program (ETIP) job training funds that will help enhance the skills of its workforce and a Large Business Development Program (LBDP) grant to help offset some of the company’s upfront capital expenditures.
“The addition of MillerCoors presents a tremendous opportunity for the state to strengthen our local economy and add a valuable corporate citizen to our community. It also places MillerCoors in a strong position to grow its U.S. operations, by locating within a major business epicenter in a growth environment and increasing accessibility to world class talent and business services. By making investments such as these, we’re investing in new jobs for people and creating economic development for the entire region,” DCEO Director Jack Lavin stated.
Governor Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses.  It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.
About MillerCoors
Built on a foundation of great beer brands and more than 288 years of brewing heritage, MillerCoors continues the commitment of its founders to brew the highest quality beers. MillerCoors is the second largest beer company in America, capturing nearly 30 percent of U.S. beer sales. Led by two of the best-selling beers in the industry, MillerCoors has a broad portfolio of highly complementary brands across every major industry segment. Miller Lite is the great tasting beer that established the American light beer category in 1975, and Coors Light is the brand that introduced consumers to Rocky Mountain cold refreshment. MillerCoors brews full-calorie beers Coors Original Banquet and Miller Genuine Draft; and economy brands Miller High Life and Keystone Light. The company also imports Peroni, Pilsner Urquell and Molson Canadian and offers innovative products such as Miller Chill and the Sparks line of caffeinated alcohol beverages. MillerCoors features craft brews from the Jacob Leinenkugel Company, Blue Moon Brewing Company and the Blitz-Weinhard Brewing Company. MillerCoors operates eight major breweries in the U.S., as well as the Leinenkugel’s craft brewery in Chippewa Falls, WI and two microbreweries, the Leinenkugel’s 10th Street Brewery in Milwaukee and the Blue Moon Brewing Company at Coors Field in Denver. MillerCoors vision is to become the best beer company in America by driving profitable industry growth. MillerCoors insists on building its brands the right way through brewing quality, responsible marketing and environmental and community impact. MillerCoors is a joint venture of SABMiller plc and Molson Coors Brewing Company.


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