Tax & Economic Incentives for Illinois Businesses

Illinois Tax and Economic Incentives and Programs

Businesses in Southwestern Illinois have access to a wide range of economic programs, including tax credits, workforce training, and redevelopment initiatives. These corporate incentives help companies save money, build skilled teams, and take advantage of a region ready for growth. For those establishing a new operation or expanding an existing one, these incentives for businesses are designed to make your move smoother and more strategic.

Reimagining Energy and Vehicles Program (REV)

Offers incentives to companies involved in electric vehicles, renewable energy, green steel, and related components to support R&D, manufacturing, and innovation.

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

Provides corporate tax credits to businesses that create jobs, invest in capital projects, or fund training programs in Illinois.

Manufacturing Illinois Chips for Real Opportunity Act (MICRO)

Supports semiconductor and microchip manufacturers, along with component parts producers, with targeted tax incentives.

Illinois Angel Investment Credit Program

Encourages investment in early-stage, innovative companies by offering tax credits to help secure working capital.

Data Centers Investment Program

Grants tax exemptions to qualifying data center owners and operators, reducing the cost of expanding or operating in Illinois.

High Impact Business Program (HIB)

Provides tax credits for large-scale projects that create or retain hundreds of full-time jobs and invest millions in capital improvements.

Illinois Opportunity Zones

Attracts investment in underserved areas, creating jobs and spurring regional development.

River Edge Redevelopment Zone Program

Supports the cleanup and redevelopment of environmentally challenged riverfront properties, like Alton and East St. Louis.

Blue Collar Jobs Act (BCJA) Tax Credit Program

Offers corporate income tax credits to companies making substantial capital investments that drive economic development.

Illinois Apprenticeship Education Expense Tax Credit Program

Provides a tax credit for qualifying educational expenses for apprentices, helping companies build skilled teams.

Illinois Historic Preservation Tax Credit Program

Gives a state income-tax credit equal to 25% of qualified expenditures for certified historic structures.

Prime Sites Capital Grant Program

Assists companies with significant capital investment projects that commit to meaningful job creation.

Illinois Enterprise Zones Program

Stimulates economic growth and revitalizes neighborhoods in designated redevelopment areas.

Apply for Illinois Incentives and Tax Credits

Learn more about the range of economic incentives that Illinois offers to individuals and businesses, as well as a detailed overview of the application process. Discover how these programs can benefit you and find out the steps needed to apply for them effectively.

Incentives and Tax Credits

Expanding Economic Incentives for Expanding Businesses

Illinois continually updates its economic incentives to meet the needs of growing industries. That means more opportunities for businesses to cut costs, grow their teams, and invest in the future. With dig-ready sites, workforce-ready talent, and robust economic programs, Southwestern Illinois is ready for business.

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