EDGE Tax Credit Signed into Law!

10/10/2017
EDGE Tax Credit Overhaul Gets Governor Rauner's Signature

Governor Bruce Rauner today signed legislation (HB162) that overhauls the EDGE Tax Credit Program and provides much-needed transparency and taxpayer protections.

"The EDGE Tax Credit Program overhaul is a bipartisan job creation program that is innovative and competitive for businesses," Gov. Rauner said. "This legislation is another tool to use in our quest to bring high-quality and good-paying jobs to Illinois. It is crucial for the future success of our state that we make Illinois a more business friendly environment through pro-growth measures."

The EDGE tax credit program is a critical local economic development tool that incentivizes job creation, growth and competitiveness in the state. The new law extends the program until June 30, 2022.

Among the key components in the EDGE tax credit overhaul is that incentives will encourage companies to expand or move to underserved areas in the state, and eligibility thresholds will be lowered to allow more small businesses to grow in Illinois. The overhaul also implements a Gov. Rauner transparency measure, requiring all EDGE agreements be posted within 10 days of the project being secured in Illinois. For more information go to https://www.illinois.gov/dceo/ExpandRelocate/Incentives/Pages/EDGE.aspx or contact CEO.EDGE@illinois.gov.


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