March 22, 2005

Topinka hands out millions to tech businesses

Further subsidizing certain companies in the state, Illinois treasurer Judy Baar Topinka was in the Quad Cities as part of her "'Technology Express', a three-day, 10-city tour throughout Illinois to explain how the Technology Development Fund can help create jobs and investment opportunities."

Three Illinois companies will receive a total of $7.5 million from the state's $50 million Technology Development Fund. The investments could bring new technology jobs and stabilize the state's economy, she told a group Monday in Moline.

Beecken Petty O'Keefe and Co., an equity firm specializing in companies working in health care, and M.K. Capital, a Skokie, Ill., group investing in technology markets will receive $3 million each from the fund. IllinoisVENTURES, which helps fund numerous startup companies, will receive $1.5 million.
No mention was made of how many millions would be made available to the all-important blogger component of the state's future tech growth.

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