Rauner signs bill reinstating business tax credit program

By Brendan Bakala

09/18/2017

A controversial but politically popular tax credit program will be extended until June 2022 under a bill signed by Gov. Bruce Rauner.

TAGS: Bruce Rauner, EDGE: Economic Development for a Growing Economy, jobs, tax credits

Is your family eligible for Illinois’ tax credit scholarships?

By Mindy Ruckman

08/30/2017

The tax credit scholarship program included in the school funding proposal passed by the General Assembly would be the first of its kind in Illinois, and one of the largest of such programs in the nation.

TAGS: education, school choice, tax credits

Illinois Senate votes to revive EDGE business tax credit program

By Brendan Bakala

08/14/2017

House Bill 162 would bring back Illinois’ Economic Development for a Growing Economy tax credit program.

TAGS: cronyism, EDGE: Economic Development for a Growing Economy, jobs, tax credits

Amazon may employ 8,000 people in Illinois by end of 2018

By Brendan Bakala

06/16/2017

The Romeoville fulfillment center is one of several Illinois facilities Amazon has opened or plans to open in the coming years. For some of those locations, Amazon has signed deals with the state of Illinois worth tens of millions in potential tax credits.

TAGS: Amazon, jobs, tax credits

Sears to cut 400 jobs, despite state, local tax breaks

By Brendan Bakala

06/14/2017

Sears Holdings has dropped below the job threshold necessary to qualify for the $15 million in annual state tax credits for which it was once eligible.

TAGS: Economic Development Area, jobs, Sears, tax credits, unemployment

Akuna Capital signed tax break deal with state of Illinois estimated to be worth $4.5M

By Brendan Bakala

05/23/2017

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.

TAGS: cronyism, EDGE: Economic Development for a Growing Economy, tax credits

Illinois gave Glassdoor more than $6M in tax breaks in 2016

By Brendan Bakala

05/05/2017

Glassdoor agreed to three sets of hiring dates in 2016, 2017 and 2018 in which the job-finding website would hire 240 new employees.

TAGS: cronyism, tax credits

Capital One received more than $20 million in tax breaks from Illinois in 2015

By Brendan Bakala

05/02/2017

The state agreed to the tax credits in exchange for Capital One hiring 210 new employees and retaining 900.

TAGS: Bruce Rauner, budget, Business and Employment Development Tax Credit Act, cronyism, Illinois Chamber of Commerce, jobs, Michael Zalewski, Mike Madigan, Natalie Manley, Pam Althoff, tax credits, Transforming Helping and Reviving Illinois’ Versatile Economy

EDGE tax credit program expires, but extension passes Illinois House

By Brendan Bakala

05/01/2017

Illinois’ EDGE tax credit program expired April 30; however, proponents of EDGE have passed a one-month extension in the Illinois House of Representatives.

TAGS: David McSweeney, DCEO, Mark Batinick, Natalie Manley, Scott Drury, tax credits

How Trump’s tax proposals would affect Illinois

By Michael Lucci

05/01/2017

The corporate tax reforms under President Donald Trump’s proposed tax plan could strengthen Illinois’ position as a home for businesses, but the state’s uncompetitive income, property and death tax policies would put its residents at an even greater disadvantage with respect to other states if the president’s plan passes.

TAGS: Chicago, corporate income tax, death tax, Donald Trump, estate tax, income tax, outmigration, population, property taxes, tax credits, taxes

Illinois’ $21 billion in school debt pushes up property taxes

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Policy lessons from Illinois’ exodus of people and money

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students