Gov. Pat Quinn is ramping up the use of incentives, which include tax credits, training funds and grants, as Illinois copes with a moribund economy and battles other states to woo companies that have shown a willingness to move — or stay put, if the price is right.
The packages require the businesses to maintain or increase employment for a set period and make a certain investment in Illinois.The state’s packages include corporate income tax credits from the state’s cornerstone program, Economic Development for a Growing Economy, also known as EDGE. Some companies also received training funds and grants.
This article from the Chicago Tribune discloses the additional 8 companies receiving state incentives.
I wonder if this is a knee jerk reaction to the increase in corporate income taxes that Quinn raised earlier this year?