Strong incentives for growth in Illinois.
Illinois offers tax-based incentives to help your business create jobs and investment in Illinois.
The Illinois Department of Commerce and Economic Opportunity (DCEO) offers a menu of programming designed to help businesses of all sizes and industries succeed.
Illinois’ EDGE program provides annual corporate tax credits to qualifying businesses which support job creation, capital investment and improve the standard of living for all Illinois residents.
Illinois’ EDGE for Startups program is designed to encourage startups to invest, create, and retain jobs in Illinois. Businesses must be incorporated 10 years ago or less, never had any Illinois income tax liability, and ready to hire full time W2 employees to be eligible.
The Illinois Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state through state and local tax incentives, regulatory relief and improved governmental services.
The state's Federal Grant Support Program provides up to $16.9 million in matching state funds to enhance the competitiveness of Illinois-based federal grant applications. The program offers grants ranging from $10,000 to $2,000,000, delivering up to a 1:1 match of an applicant's cash contribution for projects aligned with the state's economic development goals. Eligible local governments, nonprofits, and businesses must apply at least three weeks prior to their federal submission deadline. Funding commitments from the state are contingent upon the applicant successfully securing the associated federal award
The program supports large-scale economic development activities by providing tax incentives (similar to Enterprise Zones) to companies that make substantial capital investments in operations and create or retain an above average number of jobs.
The Illinois Angel Investment Tax Credit Program encourages investment in innovative, early-stage companies to help obtain the working capital needed to further the growth of their company in Illinois.
The River Edge Historic Tax Credit Program provides state income-tax credit equal to 25% of a project’s qualified expenditures to owners of certified historic structures located within River Edge Redevelopment Zones.
The Illinois Innovation Venture Fund (INVENT) is a $114 million direct equity capital program funded through the U.S. Department of the Treasury State Small Business Credit Initiative (SSBCI) and administered by the Illinois Department of Commerce and Economic Opportunity (DCEO).
The Illinois Innovation Voucher Program fuels collaboration between small and medium-sized enterprises (SMEs) and Illinois' top higher education institutions.
The Invest in Illinois fund devotes $400 million to high-priority projects that commit to investing and creating jobs in Illinois.
Illinois passed the MICRO Act to attract semiconductor companies looking to relocate or expand in the U.S. The new legislation significantly boosts tax credits for retained employees of semiconductor projects from 25% to 75%, rising even further to 100% for those locating in an underserved or energy transition area.
The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities.
The REV Illinois Act is a highly competitive incentives program to bolster Illinois manufacturing in the clean jobs economy, created to attract companies all along the supply chain in the electric vehicle and renewables sectors.
The River Edge Redevelopment Zone Program (RERZ) helps revive and redevelop environmentally challenged properties adjacent to rivers in Illinois.
Illinois Small Business Development Centers are located throughout the state to provide information, confidential business guidance, training, and other resources for start-ups and existing small businesses.
The Illinois Department of Commerce and Economic Opportunity’s (DCEO) Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) Matching Program provides up to $75,000 in state matching funds for Illinois-based recipients of federal SBIR/STTR Phase I awards and up to $250,000 for Illinois-based recipients of federal SBIR/STTR Phase II awards.
Illinois is now the only state in the nation with a sustainable aviation fuel (SAF) tax incentive, providing a $1.50/gallon tax credit for SAF sold to or used by an air carrier.
