| State: |
IL |
| Incentive Type: |
Special Purpose Zone Incentives and Credits |
| Incentive Title: |
Enterprise Zone Credits |
| Description: |
ILLINOIS ENTERPRISE ZONE PROGRAM - An economic development program designed to aid economically depressed areas of the State. |
| Eligibility Requirements: |
The following incentives are available to businesses which expand or locate in a designated enterprise zone. The incentives include: 1) an exemption on the retailer's occupation tax paid on building materials; 2) an investment tax credit of .5%; 3) a jobs tax credit for each certified dislocated worker or disadvantaged individual is hired. The Dept. of Commerce and Econ. Opp. also provides the following exemptions: 1) expanded state sales tax exemption on personal property purchases used or consumed in the manufacturing or operation of a pollution control facility; 2) an exemption of the state uility tax on electricity, natural gas; 3) telecommunications excise tax; and 4) an exemption for Illinois Commerce Commission's administrative charges. Businesses must meet the minimum requirements of investment for job creation or retention. The must apply through Dept. of Commerce and Econ. Opp. Each enterprise zone also has additional local incentives available. Each zone also has a zone administrator responsible for compliance. |
| Geographic Restrictions: |
Designated Enterprise Zones Statewide |
| Granting Authority: |
IL Dept. of Commerce & Econ. Opp. & Local Zone Administrator |
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