Turner Encouraged by Reinstatement of Blue Collar Jobs Act

[May 18, 2023]  Springfield, IL… State Senator Sally Turner (R-Beason) is applauding the reinstatement of the Blue Collar Jobs Act, which seeks to bring good-paying jobs to Illinois through a series of income tax credits for qualified capital investments in the construction of new or improved property. The Blue Collar Jobs Act was originally signed into law as part of the bipartisan budget negotiations in 2019 but was frozen prior to its implementation in 2021 by Governor Pritzker.

“Today’s announcement of the reinstatement of the Blue Collar Jobs Act is an extremely encouraging development as we finish up our final scheduled week of session,” said Sen. Turner. “The implementation of this Act will help create new jobs for Illinois families and expand economic opportunities for job creators just in time as we begin to see a slowing of our state and nation’s economy.”

On May 17, the Illinois Department of Commerce and Economic Opportunity (DCEO) announced that applications are now open for eligible companies. Businesses can apply here. Additionally, DCEO is offering a webinar to share details regarding the program application process on Monday, June 26, 2023, from 1 p.m. – 2 p.m. Click here to register.

The Blue Collar Jobs Act includes:

High Impact Business (HIB)Construction Jobs Credit: Equals 50% of the incremental income tax attributable to qualified construction jobs for a designated HIB taxpayer during the construction period with an investment of at least $12 million.
 

Enterprise Zone (EZ) Construction Jobs Credit: Equals 50% of the incremental income tax attributable to qualified construction jobs for approved capital investments of at least $10 million located in an EZ during the construction period.

River Edge (RE) Construction Jobs Credit: Equals 50% of the incremental income tax attributable to qualified construction jobs for approved rehabilitation plan of at least $ 1 million located in a RE during the construction period (applicable for tax years beginning on or after January 1, 2021).

New Construction Economic Development for a Growing Economy (EDGE) Credit: Discretionary credit for up to 50% of the incremental income tax attributable to qualified construction jobs during the construction period for approved capital investment projects over $10 million.