SPRINGFIELD, Ill. (WCIA) — A bipartisan tax credit has launched in Illinois after being put on hold for more than a year.
The Blue-Collar Jobs Act was negotiated as a part of the budget in 2019. But the credit providing $20 million in tax incentives to companies was frozen in 2021, and not launched until Wednesday.
The credits promote construction in low-income areas of the state.
“By offering tax incentives through the bipartisan Blue Collar Jobs Act, the State is bolstering construction projects and supporting economic development throughout Illinois,” DCEO Director Kristin Richards said. “The innovative tax credit structure will help create new, good-paying construction jobs while encouraging businesses to increase investments in Illinois’ communities.”
The Blue-Collar Jobs Act includes tax incentives for companies located in an Enterprise Zone or River Edge Redevelopment Zone, companies who are High Impact Businesses, and companies with an…
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