For the seventh consecutive year, Illinois legislators passed a balanced budget that Governor JB Pritzker has indicated he will sign into law.
“We congratulate Governor Pritzker and the General Assembly for passing a balanced state budget that ensures Illinois’ fiscal stability. Businesses want certainty, and with this budget, they again have assurance Illinois is taking their needs seriously and is making responsible choices,” said Intersect Illinois President and CEO Christy George. “Illinois has seen tremendous success with its economic incentives. Adding the new AIM program for advanced manufacturing, upgrading the EDGE and REV tax credits, and supporting development-ready sites through the Surplus to Success and Site Readiness Initiative programs is sure to fuel more growth and jobs in Illinois.”
With the Surplus to Success and DCEO Site Readiness Initiative, the budget includes an historic investment of $500 million to make sites ready for businesses looking for a place to land. The Advancing Innovating Manufacturing for Illinois (AIM) tax credit provides a new incentive to manufacturers seeking to make significant capital investments. Illinois will also fine-tune its EDGE and REV tax credits, and is expanding REV so it’s available to industries within the electric vehicle supply chain.
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Intersect Illinois is the statewide economic development organization focused on bringing new jobs and investment to the state. As the state’s business attraction organization, Intersect Illinois collaborates with partners in the public and private sectors to attract new jobs and investment. The organization showcases the state’s advantages including its central location with access to the country and world, its unmatched infrastructure, and its robust workforce fueled by its dynamic higher education system. Intersect Illinois makes it easier for companies to expand in Illinois by providing a range of services to help navigate the site selection process.
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