Tue August 7, 2012
Enterprise zones extended in Illinois
Governor Pat Quinn toured Illinois Tuesday as he signed legislation that extends tax incentives for businesses within so-called enterprise zones. One of the stops was at the Chicago-Rockford International Airport.
Other stops included Chicago, Peoria, Decatur, Mount Vernon, and the Quad Cities.
In Rockford, the governor said it addresses the most important issue in Illinois, which is economic growth.
"We've gotta have a great American middle-class if we're gonna have a great country. And that's what we're doing right now - protecting the middle-class by making sure we have good employers who make commitments and investments to get more jobs" Quinn said.
The law takes effect immediately and extends the program for 25 years. Businesses within the designated zones essentially get a tax break. The new law also creates a board to oversee the process of determining which companies are eligible.
The program does have its critics. They say there isn't enough monitoring of the zones to make sure they're effective.