Illinois Budget Deficit Spurs Incentive Cuts
With a proposed budget deficit of nearly $4 billion for the 2016 fiscal year, the Illinois Governor’s Office has issued a press release which places a hold on certain future incentives for businesses. Effective immediately, the state is suspending all new applications for the Economic Development for a Growing Economy (EDGE) Tax Credit Program, Large Business Attraction Grants, Employer Training Investment Program (ETIP) Grants, and Prime Sites Grants. In addition, the state will defer application approvals for film tax credits and High Impact Business designations. Any commitments previously made for any of the above will still be honored.
If you would like more information on the impact of these suspensions, please contact Equifax Workforce Solutions.
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