BELLEVILLE, Ill. – Legislation backed by state Rep. Jay Hoffman, D-Swansea, to reinstate and extend a tax-credit program intended to spur local economic growth and new jobs is now law.
“We need to make sure that we are empowering businesses that are bringing new jobs into our community by either expanding operations or relocating here,” Hoffman said. “Without these tax incentives, it would be much more difficult for Illinois to attract businesses to locate and invest here.”
Hoffman 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.
“This bipartisan effort ensures that the Metro East and communities throughout Illinois have the best opportunity to attract new businesses and jobs,” Hoffman said. “This proposal was a team effort, I would like to thank my colleagues for their work on this legislation that puts our state’s economy in the best position to thrive.
Rep Jay Hoffman
261-S Stratton Office Building
Springfield, IL 62706
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Belleville, IL 62220
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