The 2011 tax hikes cost the state economy $55.8 billion in real GDP from 2012-2016.View Report
The Brandt Group of Companies inked a deal through Illinois’ state tax credit program and will receive property tax abatements from multiple local governments.
The state’s combined incentives package will reportedly include $1.4 billion in EDGE tax credits, $450 million in improvements, $250 million in new education and workforce programs, and more.
Under its agreement with the state of Illinois, the candy company Haribo of America will bring 25 new jobs to its Rosemont headquarters by October 2018, followed by another 30 by October 2021.
A controversial but politically popular tax credit program will be extended until June 2022 under a bill signed by Gov. Bruce Rauner.
Chicago Mayor Rahm Emanuel reportedly spoke with Amazon CEO Jeff Bezos to lure Amazon’s second headquarters to Chicago.
House Bill 162 would bring back Illinois’ Economic Development for a Growing Economy tax credit program.
Amazon announced plans to open another Illinois shipping facility in Crest Hill, Ill., which is expected to create up to 800 jobs.
In 2015, Chicago-headquartered Akuna Capital LLC signed a deal with the state of Illinois that state officials estimated to be worth $4.5 million. As part of the agreement, Akuna agreed to hire 10 new employees. The agreement states the new hires specialized in trading and software.
Gov. Bruce Rauner signed an extension of the EDGE tax credit program, though the program has an unsuccessful record of using taxpayer money.
The expiration of the state’s EDGE program – which has given large companies more than $1 billion in tax credits the last 15 years – is good news for taxpayers and should encourage lawmakers to pass real reforms.