UPDATED 05/06/11 12:46 p.m.

LIBERTYVILLE, Ill. (CBS) — Motorola will be staying in its Libertyville home for the long haul.

READ MORE: Chicagoan David Kronfeld Shares Advice To Career Success In New Book

Gov. Pat Quinn said Friday that the state will provide $100 million in tax credits to the company as part of a deal with the company to keep it from leaving.

LISTEN: Newsradio 780’s Nancy Harty reports

Under the deal announced Friday, the Motorola spinoff will keep a workforce of about 3,000 at the facility. Motorola Mobility designs mobile phones and other related products.

Motorola Mobility chief executive officer Sanjay Jha says the company has a longstanding commitment to Illinois.

READ MORE: AAA Provides Best And Worst Times For Post-Holiday Travel

State Rep. Ed Sullivan Jr. (R-Mundelein) told the Daily Herald previously the company is planning to invest $500 million locally. Sullivan said Motorola Mobility also will hire about 2,500 people for research and development.

The company had been considering moving the front office to Silicon Valley, or other high-profile tech centers out of state.

Libertyville Mayor Terry Wempler said Friday he was relieved by the news.

Motorola split in two in January. It has 3,000 employees in Illinois.

MORE NEWS: Chicago Weather: Sunny, Breezy With Seasonable Temps

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)