Illinois Economic Development for a Growing Economy Tax Credit
The Illinois Economic Development for a Growing Economy Tax Credit program offers tax credits to companies considering relocation to another state. The tax credits can equal the amount of state income taxes withheld from the salaries of employees in the newly created jobs. To qualify, a company must provide documentation that they are considering a competing state, agreement to invest at least $5 million in capital improvements and create at least 25 new full time jobs in Illinois. If you have 100 or fewer employees, you can qualify if you agree to make a capital investment of $1 million and create at least five new full time jobs in Illinois.Click here for more information.