High Impact Business Program (Illinois)

Last modified on February 12, 2015.

EZFeed Policy

Place	Illinois
Applies to States or Provinces	Illinois
Name	High Impact Business Program (Illinois)
Policy Category	Financial Incentive
Policy Type	Corporate Tax Incentive, Sales Tax Incentive
Affected Technologies	Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Natural Gas, Solar Photovoltaics, Wind energy
Active Policy	Yes
Implementing Sector	State/Province
Program Administrator	Illinois Department of Commerce and Economic Opportunity
Primary Website	http://www.illinois.gov/dceo/ExpandRelocate/Incentives/taxassistance/Pages/HIB.aspx
Last Review	2014-06-20
Last Substantive Modification to Summary	2014-06-20

Summary

The High Impact Business Program provides tax incentives to encourage large-scale economic development. Businesses may qualify for: investment tax credits, a state sales tax exemption on building materials, an exemption from state sales tax on utilities, a state sales tax exemption on purchases of personal property used or consumed in the manufacturing process or in the operation of a pollution control facility. The project must involve a minimum of $12 million investment causing the creation of 500 full-time jobs or an investment of $30 million causing the retention of 1500 full-time jobs. The investment must take place at a designated location in Illinois outside of an Enterprise Zone.</br>

In 2009, the program was expanded to include wind energy facilities. The designation as a Wind Energy/High Impact Business is contingent on the business constructing a new electric generation facility or expanding an existing wind power facility. “New wind power facility” means a newly constructed electric generation facility, or a newly constructed expansion of an existing electric generation facility, placed in service on or after July 1, 2009, that generates electricity using wind energy devices. “New wind energy device” means any device, with a nameplate capacity of at least 0.5 megawatts, that is used in the process of converting kinetic energy from the wind to generate electricity.</br>

Policy Contact

Department	Illinois Department of Commerce and Economic Opportunity
Division	Bureau of Business Development
Address	500 East Monroe St., Springfield, Illinois, 62701
Phone	217-785-6169
Phone 2	800-785-6055
Website	http://www.ildceo.net/

Authorities (Please contact the if there are any file problems.)

Authority 1:	High Impact Business Program
Date Effective	2009