The Economic Development for a Growing Economy Tax Credit Program encourages companies to remain, expand, or locate in Illinois. The program provides tax credits to qualifying companies equal to the amount of state income taxes withheld from salaries for newly created jobs. A company must make a capital investment of $5 million and create a minimum of 25 jobs to be eligible. A company must also demonstrate that it had considered locating out-of-state.
Corn Belt Energy Corporation (CBEC), in association with the Wabash Valley Power Association, provides its customers with the "Power Moves" energy efficiency rebate program. Through this program, customers of Corn Belt Energy can receive rebates for geothermal, air-source, and dual fuel heat pumps, as well as electric and heat pump water heaters. To qualify for a rebate customers follow all program procedures and comply with all efficiency standards. Check CBEC's website for specific program guidelines and rebate terms.
Corn Belt Energy, through the Wabash Valley Power Association, offers business, school, and farm customers a variety of energy efficient rebates and incentives through its "Power Moves" program. Rebates are available in equipment areas such as:
In 2002, Cook County enacted an ordinance requiring all new county buildings and all retrofitted county buildings to be built to LEED standards. Specifically, all newly constructed buildings and all buildings scheduled for capital improvement must be built to the LEED Green Building Rating System Certification requirements, and all retrofit projects must meet LEED Certification for Existing Buildings. All buildings must set a goal of obtaining 8 or more points in the LEED Energy and Atmosphere category.
The Illinois Department of Commerce and Economic Opportunity (DCEO) is offering grants for community-scale solar and wind projects located in Illinois. Eligible businesses can apply for up to 30% of project costs for solar thermal and wind and 25% for solar PV, and government and nonprofit entities can apply for up to 40% of project costs. Business photovoltaic (PV) projects are limited to $1.50/watt, and nonprofit and government PV projects are limited to $2.60/watt. Business wind projects are limited to $1.70/watt, and nonprofit and government projects are limited to $2.60/watt.
Community Service Block Grant Loan Program is a partnership among the Department of Commerce and Economic Opportunity, community action agencies, and the Illinois Ventures for Community Action. The program provides long-term, low-interest, fixed-rate loans to new or expanding businesses. Companies must create jobs for low-income individuals.
The Community Development Fund is a partnership between the Illinois Department of Commerce and Economic Opportunity (DCEO) and financial institutions. Up to $5 million in micro loans is available to start-up companies and existing small businesses.
Prior to 2007, wind energy devices generating electricity for commercial sale were assessed differently depending on where they were located. Some counties valued the entire turbine structure (tower plus generation equipment) as "real property", subject to taxation, while others deemed only the tower portion as taxable property. This difference in valuation procedure meant that the taxable value of identical wind turbines could vary by as much as 75% from county to county, creating dramatically different tax loads and complicating projects that cross county lines.
ComEd, Nicor Gas, Peoples Gas, and North Shore Gas fund the Small Business Energy Savings program in which an energy advisor conducts a free on-site energy assessment and provides free installation of energy saving products as well as recommendations for further improvements with rebates of up to 70%.
ComEd, Nicor Gas, Peoples Gas and North Shore Gas are offering a Complete System Replacement Rebate Program to residential customers. The program is a bundled promotion in partnership with ComEd for qualifying complete system replacements completed Jan, 1 - Apr 30, 2013. Complete systems include new furnaces and central air conditioner installation.
All paperwork must be received on or before May 31, 2013. Installations receive an extra $100-250 beyond the regular rebate.