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 e-Newsletter
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A bill that extends tax incentives for businesses within so-called enterprise zones is now law in Illinois. Governor Pat Quinn signed the legislation Tuesday at the Ford Motor Company plant in Chicago. Also on hand was Greg Baise, with the Illinois Manufacturers' Association. He says the law has been important to business since it was first enacted 30 years ago.
"It provides stability, so companies like Ford are able to know that they will have these incentives in place to be able to expand and improve a facility like this," says Baise
The law takes effect immediately and extends the program for 25 years. Businesses within the designated zones essentially get a tax break. The new law also creates a board to oversee the process of determining which companies are eligible. Ford officials say the incentives have helped them stay competitive. Quinn says they also help create and retain jobs. The Democratic governor is promoting the law at stops in Rockford, Peoria, Decatur, Mount Vernon and the Quad Cities. |
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