Economic Development for a Growing Economy Tax Credit Program (Illinois)

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Last modified on February 12, 2015.

EZFeed Policy

Place Illinois


   
Applies to States or Provinces Illinois
Name Economic Development for a Growing Economy Tax Credit Program (Illinois)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Illinois Department of Commerce and Economic Opportunity
Primary Website http://www.illinois.gov/dceo/ExpandRelocate/Incentives/taxassistance/Pages/EDGE.aspx



Last Review 2014-06-20
Last Substantive Modification
to Summary
2014-06-20


Summary

The Economic Development for a Growing Economy Tax Credit Program encourages companies to remain, expand, or locate in Illinois. The program provides tax credits to qualifying companies equal to the amount of state income taxes withheld from salaries for newly created jobs. A company must make a capital investment of $5 million and create a minimum of 25 jobs to be eligible. A company must also demonstrate that it had considered locating out-of-state.



Policy Contact

Department Illinois Department of Commerce and Economic Opportunity
Division Bureau of Business Development
Address 500 East Monroe St., Springfield, Illinois, 62701



Phone 217-524-8449
Phone 2 800-785-6055


Website http://www.ildceo.net/dceo/Bureaus/Business_Development/Tax+Assistance/EDGE.htm
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Economic Development For A Growing Economy Tax Credit Program
Date Effective 2011



















References