Althoff cheers extension of EDGE program, calls it key to economy
Sen. Pam Althoff (R-McHenry) praised the Illinois Economic Development for a Growing Economy (EDGE) Tax Credit Program, recently overhauled through legislation signed by Gov. Bruce Rauner, as a key to keeping Illinois businesses in the state, according to a press release.
“Businesses in Illinois have been able to take advantage of the EDGE program for years,” Althoff said in a statement. “Wisconsin, which is just a stone’s throw away, frequently solicits employers in this region to move across the border. But because of the EDGE program, our businesses are staying, providing jobs for thousands of our residents. Extending the EDGE program is especially important in today’s Illinois economy as jobs are already leaving in record numbers.”
The overhaul legislation, which Althoff co-sponsored in the Senate, extends the program through 2022 and increases transparency and access to the program’s incentives. According to the release, the law lowers eligibility thresholds to allow small businesses to take part, encourages companies to operate in underserved areas and imposes a 10-day posting requirement for all EDGE agreements.
“This legislation is another tool to use in our quest to bring high-quality and good-paying jobs to Illinois,” Rauner said in a statement. “It is crucial for the future success of our state that we make Illinois a more business friendly environment through pro-growth measures.”