New Tax Credits Announced for Illinoisans

SPRINGFIELD, Ill. – The Illinois Department of Commerce and Economic Opportunity announced the launch of the Blue Collar Jobs Act Tax Credit (BCJA) application. BCJA is a bipartisan initiative designed to support economic development and expansion by providing tax credits to companies that make investments in Illinois.

“These tax credits provide good-paying jobs to hardworking Illinoisans while also creating incentives for business to invest in our communities,” said House Speaker Emanuel “Chris” Welch. “Illinois is a wonderful place to do business and these opportunities will help spur economic growth throughout our state.”

BCJA makes $20 million in tax credits available each year for eligible recipients. The tax credits are based on wages paid to construction workers employed on eligible projects. To be eligible, a company must be located in an Enterprise Zone (EZ) or a River Edge Redevelopment Zone (RERZ), designated a High Impact Business (HIB), or have an agreement under the Economic Development for a Growing Economy (EDGE) Program. Eligible companies may receive up to 75 percent income tax withholding credits for construction workers. Additional eligibility information can be found here.