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One step closer to the (revamped) EDGE

  • ​Set for renewal this month, the Economic Development for a Growing Economy Tax Credit Program (EDGE) is re-focusing on capital investments and net new job creation, with tighter requirements in both areas for firms with over 100 employees.
  • Illinois is not alone in offering 21 incentive programs. States like Wisconsin and New York have 50 and 44 incentive programs respectively. Nationally, state incentives grew 90.9 percent from 1999 to 2017, with tax credits remaining the most common program type.
  • All subsidies create inefficiencies and cost state governments large sums of money. Justifying the costs is the perception that tax-incentive-heavy states are more attractive to businesses, thus creating jobs.
  • As a marketing tool for businesses, we’re sold on EDGE. Is that good enough for residents and taxpayers?

Source: JLL Research, Illinois Policy, PEW, Council for Community and Economic Research

*Illinois does not have an internal or external system in place for auditing effectiveness, quality or scope of its individual tax incentive programs​

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