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Companies will have more incentive to invest in Illinois under Bush’s new law

bush 052517SPRINGFIELD — Illinois’ most important economic development tool has been reinstated, thanks to a measure from Senator Melinda Bush (D-Grayslake).

House Bill 162 reinstates the Economic Development for a Growing Economy (EDGE) tax credit program, allowing the Department of Commerce and Economic Opportunity to offer incentives to businesses that create new full-time jobs, retain existing jobs and make capital investments in Illinois.

“It's important for us to have every tool available to attract and retain businesses in Illinois and ensure we can offer incentives that allow us to compete with neighboring states,” Bush said. “I represent an area that borders Wisconsin. The EDGE program is essential in helping border communities like mine stay competitive.”

The bill requires the Department of Commerce and Economic Opportunity to recapture the economic development funds if the recipient does not fulfill its end of the bargain. That money would then be disbursed to the local workforce investment area.

House Bill 162 was signed into law today. It extends the EDGE credit program through June 30, 2022.

Sen. Melinda Bush

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31st Senate District

Years served: 2013 - Present

Associated Representatives: Sheri Jesiel; Sam Yingling

Committee assignments: Education; Environment and Conservation; Government Reform (Chairperson); Human Services; Licensed Activities and Pensions; Local Government; Revenue.

Biography: Born March 18, 1956; former member of the Lake County Board, Forest Preserve Board and former Grayslake village trustee; married (Andy) with one adult son (Chris).