CHICAGO – The Chicagoland Chamber of Commerce applauds Illinois lawmakers for their bipartisan support and unanimous passage of the Chamber-led initiative to incentivize students looking to be future workers in the STEM field to live and work in Illinois after graduation. HB1378, sponsored by Rep. Janet Yang Rohr and Sen. Javier L. Cervantes, creates an innovative scholarship program that focuses on retaining Illinois STEM students, increasing equity and diversity in the industry, strengthening the Illinois talent pipeline, enhancing the state’s workforce, and keeping Illinois competitive.
Illinois now faces a serious demand for workers in industries of the future, especially in STEM fields. As the Chamber’s Chicago Tech Effect study showed, many tech-related graduates have been moving to cities outside Illinois following graduation. Illinois needs to keep and retain its talent in order to stay competitive, especially students looking to be future workers in high-growth and high-wage sectors.
HB 1378 represents an essential tool for the state to meaningfully incentivize our Illinois students to choose Illinois schools and grow our state’s workforce and economy. The legislation will establish the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Program, which provides Illinois college students majoring in STEM fields higher education cost assistance if the student agrees to live and work in Illinois for a specified period of time upon graduation.
iGROW Tech would be administered by the Illinois Student Assistance Commission (ISAC) and allow for financial assistance to be provided to eligible Illinois students attending most Illinois colleges and universities and studying in a tech-related field. Eligible students would have to enter into an agreement with the ISAC pledging to, upon graduation, be employed in Illinois utilizing their degree in tech for a period of up to four years, depending on how many years of assistance they received. In order to advance equity and ensure that disadvantaged students are able to take full advantage of the program, ISAC would be required to prioritize the applications of minority students, students demonstrating financial need, and academically talented students. The program can be funded by both private and public funds.
“iGROW Tech will allow Illinois to continue to prioritize high-growth industries, find innovative ways to bolster our economy, and stay competitive in attracting diverse talent pipelines, while allowing us to further invest in our most valuable asset: Illinois’ workers,” said Jack Lavin, President and CEO of Chicagoland Chamber of Commerce. “By accelerating our efforts to recruit and retain STEM students, especially minority and disadvantaged students that have historically been left behind by our education systems, we can demonstrate our support for future workers and encourage their continued investment in Illinois’ economic growth. I want to thank Rep. Janet Yang Rohr and Sen. Javier L. Cervantes for their leadership on this effort, our education partners, as well as every lawmaker who voted in favor of this measure.”
“We need to do more to cultivate talent and opportunities because too many bright and driven Illinois students and graduates are moving elsewhere,” said Rep. Janet Yang Rohr. “It doesn’t have to be this way. The iGROW program will go far in incentivizing students to put their creative minds to use in Illinois-based companies. This legislation fosters our state’s long term economic growth and our continued commitment to building a highly skilled workforce.”
“We want to support students first, and this legislation gives those looking at STEM fields some financial support and guidance on their path toward their career,” said Sen. Javier L. Cervantes. “There are a number of growing tech fields across Illinois who are in need of educated and enthusiastic employees and this legislation creates a pipeline for those students to learn, work and live in Illinois.”
About the Chicagoland Chamber of Commerce
The Chicagoland Chamber of Commerce is a nonprofit organization that represents more than 1,000 member companies, which collectively employ 400,000 employees and generate $24 billion in revenue. The Chamber combines the power of membership with its legacy of leadership and business advocacy to drive a dynamic economy. To learn more, visit www.chicagolandchamber.org.