Reimagining Energy and Vehicles (REV) Illinois Program
The Reimagining Energy and Vehicles in Illinois Act (REV Illinois Act) is a highly competitive incentives program to bolster Illinois manufacturing in the clean jobs economy, created to attract companies all along the supply chain in the electric vehicle and renewables sectors. In addition to utilizing Illinois’ skilled workforce to make the jobs of the future a reality in Illinois today, the program supports our state's bold climate change agenda to achieve 100% clean energy by 2050, including putting one million EVs on the road by 2030.
REV Illinois offers competitive incentives to expand in, or relocate to, Illinois for companies that manufacture, in whole or in part, electric vehicles and associated battery, charging infrastructure and recycling products, as well as renewables including solar, wind and energy storage.
Depending on project size, benefits of the program can last from twenty to thirty years, and include provisions to retain income tax withholding, exemptions on utilities taxes, training credits and grants, and equipment/capital cost exemptions. Local jurisdictions have the ability to provide property tax abatement for the life of agreement.
REV Illinois is a key component of the Pritzker administration's work to expand growth in key industries outlined in the state's 5-year economic plan – which calls for investment in clean energy as well as advanced manufacturing. Pursuant to the REV Illinois Act, the Illinois Department of Commerce and Economic Opportunity (DCEO) will review proposals for and administer REV Illinois tax credit agreements. More information on the REV Illinois program and how to apply can be found below.
REV Illinois Program Requirements and Accompanying Benefits
The REV Illinois program is specifically designed to help create new jobs in the cutting-edge EV and renewables industries, to pave the way for investment in priority areas, and to incentivize employers to provide ongoing skills training in this field. Applicants must commit to a level of capital investment and job creation to be eligible for the REV Illinois program. Benefits are available for two different tiers of investment levels, Tier 1 and Tier 2.
For more information contact CEO.REV@Illinois.gov at the Office of Business Development.