Illinois on Business Facilities Online

ILLINOIS Fast Facts

• Population (2008): 12,901,563
• Largest Cities (2008):Chicago, 2,853,114; Aurora, 171,782; Rockford, 157,272; Joliet, 146,125;
   Naperville, 143,117
• Targeted Industries: IT, Food Safety, Security & Technology, Biotech, Public Health/Life Sciences
• Key Incentives: Economic Development For A Growing Economy, High Impact Business Program, River Edge
   Redevelopment Zone Program
• GDP (All Industry 2008): $633.7 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

ILLINOIS State Incentives

The Employer Training Investment Program (ETIP) helps Illinois workers' skills keep up with new technologies and business practices. ETIP grants can reimburse new or expanding companies for up to 50% of the cost of training their employees. Trainees must be employed by the company prior to implementation of the training program. Instructors may be plant workers, public educators, private consultants, or others possessing the required expertise. Grants may be awarded to individual businesses, original equipment manufacturers sponsoring multi-company training for employees of their Illinois supplier companies, and to intermediary organizations operating multi-company training projects.

The Economic Development For a Growing Economy Tax Credit Program (EDGE) program offers a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another state. The program can provide tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs. The non-refundable credits can be used against corporate income taxes to be paid over a period not to exceed 10 years. To qualify, a company must provide documentation of a competing state, agree to make an investment of at least $5 million in capital improvements, and create a minimum of 25 new full time jobs in Illinois. For a company with 100 or fewer employees, the company must agree to make a capital investment of $1 million and create at least five new full-time jobs in Illinois.

The Large Business Development Program (LBDP) provides grants to businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large number of Illinois jobs. Funds may be used by large businesses for bondable business activities, including financing the purchase of land or buildings, building construction or renovation, and certain types of machinery and equipment. Grant eligibility and amounts are determined by the amount of investment and job creation or retention involved.

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Business Facilities Articles covering Illinois

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A Golden Corridor of Innovation

Illinois: Industrial Powerhouse in America's Heartland

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2009 Business Facilities Rankings Report

Logistics Gets Lean, Mean and Green

An Epicenter of Industry in Illinois

Bridging the Digital Divide

Deciphering High Tech's Hype

Illinois State Resources

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