Businesses
Government-funded
Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Corporate income tax credits for Illinois businesses creating at least 10 new full-time jobs, providing credits equal to 50% of the income taxes withheld from new employees for up to 10 years. Retains and attracts corporate headquarters, manufacturers, and technology companies.
Do I qualify?
Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Minimum 10 new full-time jobs (5 for businesses in distressed areas)
2.Average wage must equal or exceed county average
3.Credit: 50% of state income taxes withheld from new employees
4.10-year credit period
5.Must demonstrate Illinois is in competition with another state for the project
LPO · United States
Offers federal loan guarantees for innovative clean energy projects that struggle to access conventional financing. Supports first-of-kind commercial-scale projects in renewable energy, storage, advanced nuclear, and industrial decarbonization.
NCDOR · North Carolina
Provides state income tax credits for investments in renewable energy equipment and energy efficiency improvements for business properties in North Carolina, stackable with federal ITC.
CDFI Fund · United States
Attracts private investment into low-income communities by allowing investors to receive a 39% federal tax credit over 7 years on investments made through certified Community Development Entities (CDEs).