Latest / Illinois Valley - Shaw Local / Pritzker announces $55M Viakable expansion in LaSalle, 50 new jobs

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Pritzker announces $55M Viakable expansion in LaSalle, 50 new jobs · Illinois Valley - Shaw Local

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  Pritzker announces fifty-five million dollars vacuable expansion in LaSalle, fifty new jobs.
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  Written by Emily Beebe. This article is being read by an automated
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  voice brought to you by Everlett. Governor J.B. Pritzker joined executives, executives
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  from Via Cable Manufacturing, 2969 Chartres Street, on Wednesday to announce a
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  55 million expansion of the company's LaSalle facility, creating 50 new full-time
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  jobs and retaining 65 existing positions. I'm proud that Viacable
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  is doubling down on their commitment to Illinois as a key partner
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  in our economic vision and world-class manufacturing ecosystem, Pritzker said. Investments
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  like this are helping Illinois build an even stronger foundation for long-term
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  sustainable prosperity that is being felt in communities across the state. Viacobol,
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  a subsidiary of Mexican industrial conglomerate Xingux, has operated in La Salle
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  since 2018, which was its first manufacturing operation in the United States.
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  Approximately 150 million has been invested in this operation since then, according
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  to remarks by Deborah Phillips, president and CEO of the National Electrical
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  Manufacturers Association. The expansion will construct a 22,000 square foot addition and
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  install 17 advanced machines, upgrading critical utilities including a new electrical substation
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  to boost capacity in wire drawing, cabling, extrusion and packaging, according to
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  a news release. The Edge Agreement shows approximately 61 of Viacable's US
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  sales volume will be manufactured in Illinois. This investment reflects our long
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  term commitment to LaSalle, Illisoy, and to the future of manufacturing in
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  North America, said Juan Ignacio Garza Herrera, CEO of Xingux. By strengthening
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  our operation here, we will be better positioned to serve our customers,
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  create quality jobs and expand our capabilities in the U.S. The expansion
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  resulted from Pritzker's trade mission to Mexico, which focused on deepening economic
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  ties and attracting new business investments to Illinois, according to a news
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  release. The state supported the project through its EDGE Incentive Program. So
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  far in 2026, companies participating in EDGE have committed to creating nearly
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  6,000 new jobs and more than 2.6 billion in investments, according to
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  a news release from the Governor's Office. Continued investment in the Illinois
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  Valley is great news for LaSalle and the hardworking men and women
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  who call this region home, said State Senator Sue Reason R. Morris
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  in a news release. Manufacturing has long been an important part of
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  our local economy, and I am excited to see another local employer
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  choosing to invest, expand, and create opportunities right here in LaSalle. The
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  executed edge agreement, publicly posted by The Illinois Department of Commerce and
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  economic opportunity, was signed by the state on Monday. The contract commits
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  to no fixed dollar amount. Instead, the annual tax credit is the
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  lesser of 50 of state income tax withholding on newly hired workers
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  plus 10 of training costs, or 100 of the withholding on new
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  workers, for up to 100 new employees, which is double the 50
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  employees via Cable Pledged. The credit runs for ten consecutive tax years.
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  The company must meet investment and job commitments by a benchmark date
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  of december thirty first, twenty twenty eight, according to the agreement. If
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  Viacable permanently shuts down in Illinois during the agreement term, all credits
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  are recovered. A shortfall in jobs automatically suspends the credit until restored
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  according to the agreement. The company said that the investment would not
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  occur without the credit.