tax credits

Lawmakers Renew EDGE Tax Credit Program

Jan 12, 2017
Flickr user 401(K) 2012 / "Money" (CC v. 2.0)

Illinois lawmakers approved an extension to a state tax credit program Tuesday.  

Economic Development for a Growing Economy (EDGE) provides tax breaks to businesses that promise to create in-state jobs.  It expired in December, but State Senator Pamela Altoff says a measure passed by both chambers extends it by four months.  

"It will allow those businesses which are currently in the pipeline or in the process to continue to move forward, and have the assurance that Illinois is committed to this program," she said.  

The wind energy industry is anxiously awaiting a decision by Congress. The renewable energy tax credit is due to expire at the end of the month. Advocates say the uncertainty is affecting the status of future wind farm projects.