Governor J.B. Pritzker is personally negotiating with multiple companies to bring jobs and manufacturing to Illinois, according to Crain’s Chicago Business. Hundreds of millions in incentives are on the table due in part to a recently authorized state “deal closing fund” and local municipalities’ willingness to consider long-term property tax breaks that factory owners are demanding.
In December 2022, Governor Pritzker signed the Reimagining Electric Vehicles (REV) Act Amendment which aimed at solidifying Illinois’ position as a leader in the emerging electric vehicle manufacturing industry by incentivizing EV production across the state. The REV Illinois Act includes tax credits for income tax withholding, training costs, investment credits as well as allowing local jurisdictions reduce property taxes for EV projects – all with an aim of reducing fossil fuel usage and achieving one million electric vehicles on Illinois roads by 2030 .
