tax breaks

DeKalb
6:41 am
Wed October 1, 2014

Large Businesses That Come To DeKalb Will Still Receive Tax Breaks

Credit Simon Cunningham, licensed under CC BY 2.0 / lendingmemo.com

Big companies will continue to receive a tax break for moving to DeKalb after the city agreed to extend a tax agreement through next year. It provides incentives for large businesses that come to or expand in DeKalb as long as they follow certain criteria on building size, jobs and wages.

The Daily Chronicle reports the tax abatement has been critical in attracting more than 1,200 new jobs and millions of dollars in revenue since 2006. Local officials expect state designations to be awarded by next year and go into effect in 2016.

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-Illinois
5:03 am
Wed October 9, 2013

Illinois Senator: Tax Breaks Shouldn’t Be Held Up By Pension Crisis

Sen. Andy Manar, D-Bunker Hill
Credit ilga.gov

An Illinois lawmaker is questioning why legislation addressing the future of major corporations has to come after a solution to the $100-billion pension shortfall. Governor Quinn called for a ‘moratorium’ on tax credits for any company until the issue is solved.  Senator Andy Manar, D-Bunker Hill, says there’s no reason they can’t be done simultaneously.

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