SCHAUMBURG, Ill. – Legislation backed by state Rep. Michelle Mussman, D-Schaumburg, to reinstate and extend the Economic Development for a Growing Economy (EDGE) tax credit program is now law.
“Encouraging economic growth is a top priority of mine,” said Mussman. “A strong economy starts from the ground up by investing in the businesses that create and keep jobs here in Illinois, and this extension will help ensure that these employers are rewarded for their investments in our communities,” said Mussman.
Mussman supported House Bill 162, which extends the EDGE program through June 30, 2022, allowing the Department of Commerce and Economic Opportunity (DCEO) to continue to offer tax credits to businesses that locate to or expand their operations in Illinois. The reauthorization also requires any business that ceases operations in the state during the term of agreement to return the entire amount awarded, so it can be reallocated to the local workforce investment area where the project was located.
“In order to make our state a more competitive place for business, we should continue expanding incentives for employers who create new jobs and penalize corporations that ship Illinois jobs overseas,” said Mussman. “Putting Illinois jobs first is key to building a stronger economic future for our state.”
For more information, please contact Mussman’s full-time constituent service office at 847-923-9104 or at firstname.lastname@example.org.