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Competitive Incentives Through REV Illinois
Illinois is welcoming EV and renewables manufacturers all along the supply chain with incredibly comprehensive tax relief and workforce training incentives.
The Reimagining Energy and Vehicles in Illinois Act (REV Illinois) provides qualifying manufacturers with:
- Up to 100% of new and retained employee payroll tax withholding available immediately upon collection, depending on site location;
- Up to 75% of payroll tax withholding for construction workers, depending on site location;
- Tax credits for payroll tax withholding for employees retained by manufacturers who are making the transition to electric;
- Tax Credits toward employer training costs;
- Building materials exemption from state sales tax;
- Ability to carry-forward net operating losses up to 20 years;
- 0.5% tax credit on qualified capital investments;
- Electricity and natural gas consumption exemptions from state excise taxes; and
- Ability to negotiate property tax abatement for up to 30 years.
Eligible companies include those that manufacture electricity-powered vehicles, suppliers of component parts for an electric vehicle, companies working on battery lifespan issues, battery raw materials refiners, charging station manufacturers, companies that manufacture or assemble equipment, systems, or products used to produce renewable or nuclear energy and companies that create products used for energy conservation, storage or grid efficiency.
Incentives are maximized for manufacturers who locate or expand in Underserved or Energy Transition Areas (map coming soon). We also provide a 20% price preference for state fleet purchases when an EV is made in Illinois. Find out more about our Site Selection services.
Visit the Illinois Department of Commerce and Economic Opportunity website or get in touch today at CEO.REV@illinois.gov so we can start assessing the benefits for your project.
Companion Incentives
Other Potential Incentives
If, for some reason your business strategy or timing does not align with REV Illinois, we do offer a variety of other tax-based incentives, credits and grant programs to help manufacturers create jobs and invest in Illinois. Expanding facilities and retooling product lines are among the business opportunities that Illinois incentivizes. Our team stands ready to help you learn more about REV Illinois and other programs and services to help you achieve your business goals. Contact CEO.REV@illinois.gov today.