Competitive Incentives Through REV Illinois
Illinois is welcoming EV manufacturers all along the supply chain with the nation’s first comprehensive tax relief and workforce training incentives package for the e-mobility sector.
The Reimagining Electric Vehicles in Illinois Act (REV Illinois) provides qualifying manufacturers with:
- Up to 100% of new 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;
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; and
- Electricity and natural gas consumption exemptions from state excise taxes; and
- Ability to negotiate property tax abatement for up to 15 years.
Eligible companies include those that manufacture electricity-powered vehicles, suppliers of component parts such as batteries, cathodes, anodes or power supply equipment, companies working on battery lifespan issues, battery raw materials refiners and charging station manufacturer
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.
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.