CHICAGO – To spur job growth and attract business investors to parts of her district, state Rep. Camille Y. Lilly, D-Chicago, is urging Gov. Bruce Rauner to recommend two local municipalities acquire “Opportunity Zone” classification.
“Right now in Illinois, outside of education, nothing is more important than the creation of jobs and the attraction of businesses,” said Lilly. “As the former director of the Austin Chamber of Commerce, I know that no business person or local government would turn down additional resources to accomplish both goals simultaneously.”
Due to recent changes in the federal tax code, municipalities across the country are able to be designated as “Opportunity Zones.” The classification intends to grant investors with tax credits to plant their businesses in towns in need of community development, in tandem with public funds to attract investment and capital. Lilly wants to promote this opportunity for both Elmwood Park and Franklin Park to obtain this designation, but the authority for the economic status rests with Gov. Bruce Rauner, who has until Friday, April 20 to make his recommendations.
“As a businessperson himself, I would think our governor would want towns to have more options to encourage economic growth,” said Lilly. “The urgency to finalize this is increasing daily, and I encourage residents in both villages to contact the governor to empower their communities to attract new investors and capital.”
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270-S Stratton Office Building
Springfield, IL 62706
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Oak Park, IL 60302