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Economic Development for a Growing Economy Tax Credit Program (EDGE)

What is EDGE?

Illinois’ Economic Development for a Growing Economy (EDGE) Tax Credit Program provides annual corporate tax credits to qualifying businesses, which support job creation and capital investment and improve the standard of living for all Illinois residents.

What are the Benefits?

The EDGE program offers a credit for corporate income taxes for Tier I or withholding taxes for Tier II.

Here's a summary of the key benefits related to tax credits for staff:

  • Tax Credits for New Hires: 50%
  • Tax Credits for Retained Jobs: 25%
  • Additional Savings: In underserved areas, these savings increase by an additional 25%
  • Training Costs: The program also offers a credit for 10% on new employee training costs

What are the Requirements?

The program's requirements encompass job creation, capital investment, and the crucial "but for" principle: if not for the credit, the project would not occur in Illinois. Companies must complete a one-time audit to confirm job creation and capital investment.

Initial Job Creation and Capital Investment Requirements:

Tier I

100 or Fewer World-Wide Employees

  • Job Creation: The Lesser of
  • 5% of world-wide employment, or 50 new full-time jobs
  • Investment: $0*
  • Up to 10 years of tax benefits

More than 100 World-Wide Employees

  • Job Creation: The Lesser of 10% of world-wide employment, or
  • 50 new full-time jobs
  • Investment: $2,500,000
  • Up to 10 years of tax benefits
Tier II
  • Job Creation: 100 or more new jobs
  • Investment: $50 million or more
  • Up to 15 years of tax benefits
  • Jobs Retained: 500 jobs retained
  • Investment: $100 million
  • Up to 15 years of tax benefits

*Recipients cannot receive more in credits than the project investment.

What are the Next Steps?

EDGE is one of many programs designed to boost the Illinois economy and build the workforce of the future. If your business is ready for expansion and meets the program's criteria, we invite you to contact CEO.TeamREDinquiries@illinois.gov. You can also review the application and contact us tabs for more information.

EDGE Tool Box

 

For more information contact CEO.EDGE@illinois.gov.