The Illinois Department of Commerce and Economic Opportunity (DCEO) announced the launch of the Blue Collar Jobs Act (BCJA) Tax Credit application for eligible companies. BCJA is a bipartisan legislative package designed to promote economic expansion and growth in Illinois by incentivizing construction projects. The legislation makes $20 million in tax credits available per year for eligible companies.
The BCJA amended legislation for Illinois’ premier incentive programs to provide tax credits attributable to the wages paid to construction workers on eligible projects. Eligible companies include those who are located in an Enterprise Zone (EZ) or a River Edge Redevelopment Zone (RERZ), companies designated a High Impact Business (HIB), or companies with an agreement under the Economic Development for a Growing Economy (EDGE) Program. Companies that completed construction projects in 2021 (the effective date of the legislation) or later are eligible to apply for credits.
“By offering tax incentives through the bipartisan Blue Collar Jobs Act, the State is bolstering construction projects and supporting economic development throughout Illinois,” said DCEO Director Kristin Richards. “The innovative tax credit structure will help create new, good-paying construction jobs while encouraging businesses to increase investments in Illinois’ communities.”
Providing tax incentives specifically for construction projects supports job creation and additional investments in communities. DCEO currently leverages this innovative tax credit structure for construction jobs as part of the Reimagining Energy and Vehicles (REV) and Manufacturing Illinois Chips for Real Opportunity Act (MICRO) tax credit programs.
Companies looking for information are encouraged to email ceo.bcja@illinois.gov or visit the BCJA website.
Rep. Rosenthal Supports Veteran Small Businesses: reprosenthal.com/2023/03/24/rosenthal-legislation-to-support-veteran-small-businesses-passes-house/