halpin 051823SPRINGFIELD – The Illinois Department of Commerce and Economic Opportunity yesterday announced the launch of the Blue Collar Jobs Act Tax Credit application for eligible companies. BCJA is a bipartisan legislative package designed to promote economic expansion and growth in Illinois by incentivizing construction projects. The legislation makes $20 million in tax credits available per year for eligible companies.

“Finally, we’ve got a tax credit that rewards blue collar workers rather than the guys in the corner office,” said State Senator Mike Halpin (D-Rock Island). “We want more business here in Illinois and we have the workforce to build them. I hope to see these businesses come to Illinois to help expand the economy, and to see our workers share in the incentives the state has to offer.”

The Blue Collar Jobs Act program supports large-scale economic development activities by providing corporate income tax credits to companies that make substantial capital investments in Illinois. The tax credits are based on the wages paid to construction workers employed on eligible projects. To be eligible, a company must be located in an Enterprise Zone or a River Edge Redevelopment Zone, designated a High Impact Business, or have an agreement under the Economic Development for a Growing Economy Program. Eligible companies may receive up to 75% income tax withholding credits for construction workers.

For more information about the Blue Collar Jobs Act Tax Credit, click here.