M A E D C O  

MACOMB AREA ECONOMIC DEVELOPMENT CORPORATION

 

"CREATING EMPLOYMENT AND DEVELOPMENT OPPORTUNITIES IN MACOMB, BUSHNELL, AND McDONOUGH COUNTY"

June 01, 2012
 

Enterprise Zone 25 Year Extension Legislation Passes

 

  

Last night, the Illinois General Assembly unanimously passed the Enterprise Zone extension legislation, after nearly three years of discussion. Senate Bill 3616 will provide stable and predictable job creation and retention incentives for the long term, more transparency and performance reporting. With the revised qualifications the Senate Bill 3616 will give communities with existing zones the opportunity to renew for up to 25 years and those not currently designated as Enterprise Zone the chance to be considered for designation. The bill awaits Governor Quinn's signature.

 

In the coming months, the Illinois Enterprise Zone Association (IEZA) will be working closely with the Illinois Department of Commerce & Economic Opportunity (DCEO) and the Illinois Department of Revenue (IDR) to design, test and communicate new zone operating procedures and revised application processes.

 

IEZA will be forwarding information related to the details of the bill and key timelines to be aware of to Zone Administrators as well as community leaders. Information will be shared as it becomes available.

 

 

 

 

[email protected]  T: 309-837-4684 F: 309-837-4688