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Reimagining Energy and Vehicles (REV) Illinois Program
The Reimagining Energy and Vehicles in Illinois Act (REV Illinois Act) is a highly competitive incentive program designed 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. This program mobilizes Illinois’ skilled workforce by anticipating the jobs of the future. REV Illinois also 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 is a key component of the Pritzker Administration's work to increase investment in clean energy as well as advanced manufacturing.
REV Illinois Benefits
Depending on job creation and investment commitment, benefits of the program can last from 20 to 30 years, and include provisions to retain income tax withholding, exemptions on utility taxes, tax credits, and training credits. Local jurisdictions can also provide property tax abatement for the life of the agreement.
| Tier One | Tier Two |
|---|---|
Credit for Payroll Tax Withholding or Income Tax*
Construction Jobs Credit 50 to75 percent of payroll withholding of construction jobs* 0.5 percent Income Tax Credit on Qualified Investment |
Credit for Payroll Tax Withholding or Income Tax*
Construction Jobs Credit 50 to75 percent of payroll withholding of construction jobs* 0.5 percent Income Tax Credit on Qualified Investment Utility Excise Tax Exemption: 20-30 years Building Material Exemption from State Sales Tax: 5 years |
*Additional benefits are provided for investing in an underserved or energy transition area as defined in 20ILCS 686/10.
More information on the REV Illinois program and how to apply can be found below.
REV Illinois Program Requirements
Applicants must commit to minimum capital investment and job creation amounts to be eligible for the REV Illinois program. REV benefits are available for projects starting at $2.5 million capital investment and creating 50 jobs or 10 percent of the company’s statewide baseline. Manufacturing businesses committed to expanding in or relocating to Illinois from the following sectors are eligible to apply:
- Electric & hybrid vehicles, their component parts, or their power supply equipment
- Renewable energy and renewable energy products
- eVTOL aircrafts and airline propulsion systems (hybrid or fully electric),
- Battery recycling and reuse
- Green steel
- Electrical transformers or electrical transformer component parts
- Battery raw materials refining, or process developers for battery recycling and reuse.
Smaller projects are considered Tier 1 with benefits up to 20 years and larger projects are Tier 2 with benefits up to 30 years.
| Tiers | Entities | Project Investment | Jobs Created | Timeline |
|---|---|---|---|---|
| Tier 1 | Smaller projects in the EV or renewables sectors | $2.5M | ≥ 50 jobs (or 10% of statewide employment, whichever is less) | Within 4 years |
| Tier 2 | Electric Vehicle Manufacturer | $1.5B | ≥ 500 jobs | Within 5 years |
| Tier 2 | EV Component Parts Manufacturer (including batteries) or Renewables Manufacturer | $300M | ≥ 150 jobs | Within 5 years |
| Tier 2 | Traditional Illinois manufacturers converting or expanding to EV or renewables production at their current location | $100M | ≥ 50 new jobs (or new jobs equivalent to 10% of statewide baseline for taxpayer, whichever is less) | Within 5 years |
The REV Team is available to provide a program and/or application technical assistance session with businesses that are interested in applying. Please reach out to CEO.REV@illinois.gov to schedule.
REV Tool Box
For more information contact CEO.REV@Illinois.gov.