INCENTIVE DESCRIPTION

State: IL
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Other Tax Credits
Description: HIGH IMPACT BUSINESS PROGRAM - The purpose of the program is to provide incentives to companies making large scale investment for the creation and retention of jobs outside of an enterprise zone. The incentives are similar to those of an enterprise zone. The following incentives are available: 1) investment tax credits; 2) state sales tax exemption on building materials; 3) sales tax exemption on natural gas and electricity; 4)state sales tax exemption on manufacturing equipment purchases, repair and replacement parts.
Eligibility Requirements: The business must invest a minimum of $12,000,000 and create 500 new full-time jobs. Or, it may also involve the retention of 1500 full-time jobs and an investment of $30,000,000. The business must also be designated a "high impact business" by the IL Dept. of Commerce and Economic Opportunity. The project must also be located outside of an enterprise zone.
Geographic Restrictions: Statewide (Enterprise Zones excluded)
Granting Authority: IL Department of Commerce and Economic Opportunity


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.