While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Illinois issued more than $60 million in EDGE tax credits to Takeda Pharmaceuticals from 2003 to 2013, more than any other company received over that time.
Following $3.7 million in EDGE tax credits Illinois awarded the company last year, Flex-N-Gate is set to receive a $1.2 million tax break to boost its Danville workforce.
Despite years of taxpayer subsidies, rail car manufacturer Nippon Sharyo has closed its Rochelle plant – pointing to a reality some politicians don’t want to face.
A recent survey found Illinois to be the least accommodating state in the nation for small businesses.
Despite that booming demand, there are political efforts afoot to crush the scholarship program.
Amazon’s team will visit 10 proposed sites in Chicago for its second North American headquarters.
A controversial but politically popular tax credit program will be extended until June 2022 under a bill signed by Gov. Bruce Rauner.
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.
House Bill 162 would bring back Illinois’ Economic Development for a Growing Economy tax credit program.
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.