Senate Bill 513, legislation to reinstate the EDGE (Economic Development for a Growing Economy) tax credit program, which has been hailed by supporters as the state’s best tool in bringing businesses to the state and encouraging exiting companies to expand, was passed by both chambers of the Illinois General Assembly. The action was necessary because the EDGE program had expired at the end of 2016.
The program offers tax incentives to businesses for adding jobs in Illinois. Illinois has offered $1.3 billion in tax credits to create 34,000 jobs and save another 46,000 since the launch of the program back in 1999. Governor Rauner is expected to sign the legislation.