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.
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.
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.
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.
Illinois’ EDGE tax credit program expired April 30; however, proponents of EDGE have passed a one-month extension in the Illinois House of Representatives.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.