State Rep. Dan Ugaste (R-Geneva) | Facebook/Dan Ugaste
State Rep. Dan Ugaste (R-Geneva) | Facebook/Dan Ugaste
State Rep. Dan Ugaste (R-Geneva) is praising a legislative package through which certain companies can receive up to 75% income tax withholding credits for construction workers.
The Blue Collar Jobs Act Tax Credit program’s application for eligible companies has been launched, a release said. “Companies that make substantial capital investment in Illinois” can receive corporate income tax credits.
“As chair of the House Republican Reigniting Illinois’ Strong Economy working group, I’m glad to see this bipartisan legislation in action to help bring jobs to Illinois,” Ugaste, who is a member of the House Labor & Commerce Committee, said in the release. “I was a proud co-sponsor of the Blue Collar Jobs Act in the 101st General Assembly and will continue working to create a culture of growth in Illinois for job creators. We have so much to offer, and if we commit to growth, we can be a final destination for businesses and families to settle down and thrive for generations.”
Tax credits under the Blue Collar Jobs Act Credit Program are based on wages paid to “construction workers employed on eligible projects,” the Illinois Department of Commerce and Economic Opportunity’s website said.
“To be eligible, a company must be located in an Enterprise Zone (EZ) or a River Edge Redevelopment Zone (RERZ), designated a High Impact Business (HIB), or have an agreement under the Economic Development for a Growing Economy (EDGE) Program,” the website said. “Eligible companies may receive up to 75 percent income tax withholding credits for construction workers.”
For example, a company that has a certification as a “High Impact Business,” can be eligible for “HIB Construction Credits,” the website said. Among criteria, a company’s project must have a capital investment of at least $12 million and create 500 full-time jobs or the project must have a capital investment of at least $30 million and retain 1,500 full-time jobs.
The program includes a qualified new electric generating facility, production operations at a new coal mine and expanding an existing wind power facility.
More information on the program is available online.
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