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Invest Aurora

Economic Development and Business Resources for Aurora IL

Economic Development for a Growing Economy (EDGE)

This program is provided by the Illinois Department of Commerce and Economic Opportunity. The Illinois Economic Development for a Growing Economy Program (EDGE) offers special tax incentives for companies to locate or expand their operations in Illinois. EDGE allows companies to reduce their costs of doing business compared to related costs in other states. 

Program Description

The Illinois Economic Development for a Growing Economy Program (EDGE) offers special tax incentives for companies to locate or expand their operations in Illinois. EDGE allows companies to reduce their costs of doing business compared to related costs in other states.

Tax credits are available for qualifying businesses making capital investments and creating new jobs in Illinois: 

  • Tax credits are calculated on Illinois income taxes paid by employees’ in newly-created and/or retained jobs 
  • Used to offset corporate income taxes over 10 years 
  • Non-refundable, carried forward up to five years, and cannot be larger than a company’s annual state income tax liability.
Eligibility

Companies are required to meet the following conditions: 

  • Demonstrate an active competition for a competing location in another state, illustrate other available options to locate outside the state, or verify credits are essential to creating jobs in Illinois 
  • Project must be an expansion of an existing operation or a new location (relocation within Illinois only considered with well documented business reason) 
  • Adds to Illinois’ export potential; manufacturing or services exported out of state are acceptable, retail trade and personal services are not considered eligible 
  • Companies over 100 employees must invest $5 million in capital improvements and create 25 new full time jobs in Illinois; companies under 100 must invest $1 million and create 5 new full time jobs 
  • Maintain jobs created and/or retained, as well as capital investments, during period credits are claimed.
Availability & Application

Process Requests for tax credits are based on reviews of applications submitted by interested firms. Tax credit amounts are calculated on a case-by-case basis and can be as high as the tax receipt amounts collected from Illinois income taxes paid by newly hired and/or retained employees related to the project.

For more information or to request an application, contact your Regional Outreach office. Contact information is provided below:

Michelle Michals
Northeast Senior Account Manager
(312) 636-4555
Michelle.Michals@illinois.gov

Employer Training and Investment Program (ETIP)

This program is offered by the Illinois Department of Commerce and Economic Opportunity. The Employer Training Investment Program (ETIP) assists Illinois companies in training their workforce to increase the productivity and competitiveness for Illinois businesses in the global economy.

ETIP enhances job opportunities for employees in Illinois and keeps workers’ skills on pace with the latest technologies and business practices. 

Program Description

The Employer Training Investment Program (ETIP) assists Illinois companies in training their workforce to increase the productivity and competitiveness for Illinois businesses in the global economy. ETIP enhances job opportunities for employees in Illinois and keeps workers’ skills on pace with the latest technologies and business practices.

Eligibility

Single company training is available for small and large Illinois-based businesses with employee training needs based on the following criteria: 

  • Operating or locating in Illinois with planned permanent expansion, location or retention 
  • Expanding a business enterprise in Illinois 
  • Investing in new capital equipment or technologies with specialized training needs 
  • Expanding into new markets / exports from Illinois  Introducing more efficient technologies / continuous improvement systems into operations 
  • Providing training to employees in order to avoid layoffs

Multi-company training is available for the following intermediary organizations that can provide employee training needs for multiple Illinois-based companies: 

  • OEMs sponsoring training for Illinois suppliers 
  • Business and industry associations 
  • Educational institutions 
  • Labor organizations 
  • Strategic business partnerships Illinois-based companies and intermediary organizations may submit grant applications that provide training activities for newly-hired Illinois employees or retaining and upgrading the skills of existing workers in Illinois.

 

Availability & Application

Applications are accepted on an annual basis and are reviewed through a competitive process. Awards are subject to the availability of funds and are provided as matching grants for up to 50% of approved costs on eligible training activities for full-time Illinois employees (part-time, temporary, contractual or seasonal workers are not eligible). N

OTE: Retail, healthcare, financial services, hospitality, restaurants and other service-related companies are not eligible for the ETIP program.

For more information or to request an application, contact your Regional Outreach office. Contact information is provided below: 

Michelle Michals
Northeast Senior Account Manager
(312) 636-4555
Michelle.Michals@illinois.gov