Illinois Tax Incentives
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Illinois Tax Incentives
- Assistive Technology Program
- Capital Access Program
- Chamber of Commerce
- Chicagoland Business Leadership Network (CBLN)
- Department of Commerce and Economic Opportunity
- Disabilityworks
- Economic Development for a Growing Economy Tax Credit Program (EDGE)
- Enterprise Zone Program
- Health Benefits for Workers’ with Disabilities (HBWD)
- High Impact Business (HIB)
- Job Training and Economic Development
- Large Business Development Program (LBDP)
- Minority, Women, and Disabled Participation Loan Program (MWD/PLP)
- Participation Loan Program (PLP)
- Recovery.Illinois.gov
- Regional Employer-Assisted Collaboration for Housing (REACH)
- Rural Micro-Business Participation Loan Program
- Vocational Rehabilitation (VR)
Assistive Technology Program
The Illinois Assistive Technology Program website has links and information on obtaining and using assistive technology in the state of Illinois.
Finding a way to pay for assistive technology is often a major obstacle for people with disabilities. Illinois Assistive Technology Program has devoted a special section of its website to assistive technology funding. Some of the categories it covers are computers, education and employment.
Capital Access Program
The Illinois Capital Access Program (CAP) is designed to encourage financial institutions to make loans to small and new businesses that do not qualify under conventional lending policies. The business must be for-profit, located in Illinois and employ 500 employees or less.
A matching grant will be provided to minority/woman/disabled owned businesses (150 percent) and businesses located in a federally designated Empowerment Zone or Enterprise Community (200 percent).
Chamber of Commerce
The Illinois Chamber of Commerce website has pertinent information, links and other resources for businesses to allow them to thrive in a global economy.
Chicagoland Business Leadership Network (CBLN)
The Chicagoland Business Leadership Network is a business-to-business consortium working to educate business about hiring, retaining, and accommodating people with disabilities (PWD) and reaching out to that customer base.
CBLN provides an open forum where businesses can network, speak candidly about specific concerns, share success stories, as well as deepen their understanding of the benefits and realities of hiring and marketing to people with disabilities.
Department of Commerce and Economic Opportunity
The Department of Commerce " Economic Opportunity (DCEO) is the lead state agency responsible for improving Illinois' competitiveness in the global economy. Guided by an innovative regional approach, DCEO administers a wide range of economic and workforce development programs, services and initiatives designed to create and retain high quality jobs and build strong communities. DCEO leads the Illinois economic development process in partnership with businesses, local governments, workers and families.
Resources and knowledge gained through DCEO programs and services can be used by Illinois businesses to create/retain employment for people with disabilities.
Disabilityworks
Disabilityworks, an initiative from the Chicagoland Chamber of Commerce, the Illinois Department of Commerce and Economic Opportunity and the City of Chicago, is designed to increase employment opportunities for people with disabilities throughout Illinois.
Economic Development for a Growing Economy Tax Credit Program (EDGE)
The Economic Development for a Growing Economy Tax Credit Program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another state. The program can provide tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs.
To qualify, a company must provide documentation that attests to the fact of competition among a competing state, and agree to make an investment of at least $5 million in capital improvements and create a minimum of 25 new full time jobs in Illinois. For a company with 100 or fewer employees, the company must agree to make a capital investment of $1million and create at least 5 new full time jobs in Illinois.
As a minority group, people with disabilities have a staggering low employment rate. Jobs for this population can be included in companies’ expansion or relocation resulting from the EDGE tax credit.
Enterprise Zone Program
The Illinois Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state. This is accomplished through state and local tax incentives, regulatory relief, and improved governmental services.
Very often, people with disabilities live in areas that are economically depressed and in need of revitalization. Hiring disabled individuals from these zones would reverse the unemployment trend among this population and give their neighborhoods a much needed lift.
The following web site contains information on the Enterprise Zone Participation Loan Program (EZ/PLP), The EZ/PLP is a variation of the conventional PLP Program, in that Department of Commerce and Economic Opportunity (DCEO) subordinates the loans through participating lending institutions, but the EZ/PLP may be able to provide small businesses located in an enterprise zone a more attractive loan rate than a conventional PLP.
Contact information regarding the Enterprise Zone program.
Health Benefits for Workers with Disabilities (HBWD)
The goal of Health Benefits for Workers with Disabilities is to help people with disabilities be employed with full Medicaid health care benefits. HBWD not only encourages enrollees to work, but to increase the number of hours they are currently working.
Any individual with a disability, between the ages of 16 and 64 and working, may qualify for HBWD. Workers with countable income of up to $3,159 per month for a single person and $4,250 per month for a couple may qualify for the program.
Unlike other Medicaid programs, HBWD allows enrollees to have up to $25,000 in assets.
Working can be difficult for some people with disabilities because of the fear of losing Medicaid health care coverage. Often, private insurance is nearly impossible to obtain. This program eliminates that worry.
High Impact Business (HIB)
The High Impact Business program is designed to encourage large-scale economic development activities, by providing tax incentives (similar to those offered within an enterprise zone) to companies that propose to make a substantial capital investment in operations and will create or retain above average number of jobs.
The jobs created/retained through the HIB program can be for people with disabilities. As a group, people with disabilities tend to have low employment rates. Employment opportunities created by the HIB program will help end this devastating trend.
Job Training and Economic Development
The Job Training and Economic Development (JTED) Grant Program assists low-wage, low-skilled workers to advance in their careers, and helps unemployed, disadvantaged people learn skills necessary to secure employment. The program provides grants to not-for-profit community-based organizations (CBOs), which work with small local businesses to develop curricula, train eligible workers, and provide ongoing support. CBOs can establish a partnership with a local business to provide training to its low-wage workers.
Many persons with disabilities can be characterized as being low-wage, low-skilled unemployed or disadvantaged. Receiving training through JTED, these workers can upgrade their skills, allowing for more career advancement opportunities.
Large Business Development Program (LBDP)
The Large Business Development Program is designed to provide grants to businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large number of Illinois jobs. Funds available through the program may be used by large businesses for bondable business activities, including financing the purchase of land or buildings, building construction or renovation, and certain types of machinery and equipment. Grant eligibility and amounts are determined by the amount of investment and job creation or retention involved.
These grants can be used to purchase ADA compliant property or Assistive Technology to make a disabled employee more productive. Job creation/retention, especially for people with disabilities, is another appropriate use of these grants.
Minority, Women, and Disabled Participation Loan Program (MWD/PLP)
The Minority, Women, and Disabled Participation Loan Program is a variation of the conventional Participation Loan Program, in that Department of Commerce and Economic Opportunity (DCEO) subordinates the loans through participating lending institutions, but the MWD/PLP program can provide Illinois small businesses that are 51 percent owned and managed by persons who are minorities, women, or disabled, with loans up to $50,000 or 50 % of the total project.
Participation Loan Program (PLP)
The Participation Loan Program is designed to work through banks and other conventional lending institutions, to provide subordinated financial assistance to Illinois small businesses that employ Illinois workers. A business with 500 or fewer employees may apply for a PLP loan of not less than $10,000 no more than $750,000.
Recovery.Illinois.gov
Recovery.Illinois.gov has information and links pertaining to the American Recovery and Reinvestment Act of 2009 (ARRA).
Part of ARRA’s economic recovery in Illinois can include jobs for people with disabilities who are unemployed.
Regional Employer-Assisted Collaboration for Housing (REACH)
Employer-assisted housing (EAH) is a cost effective, easy to administer way for employers to help their employees buy or rent homes close to work. In Illinois, the Metropolitan Planning Council, Housing Action Illinois, and more than a dozen REACH partners make it easy and financially compelling for employers to offer EAH programs to their employees. These local housing experts administer the program, provide homeownership education and financial counseling, and manage the down payment or rental assistance provided by employers. Special state incentives, including tax credits and matching funds, make REACH Illinois even more compelling. Through REACH Illinois, more than 1,800 employees have bought homes since 2000.
This web site states there are many benefits for employers who assist workers with purchasing or renting homes. Some are: improved employee retention and productivity, reducing recruitment/training costs, commuter stress reduction, less absenteeism and tax benefits.
Finding affordable, accessible housing is a major problem in the disability community, even for those who are employed. Because of the lack of appropriate housing, an employer assisting a disabled worker with purchasing or renting a home would be very advantageous for a disabled worker as well their employer.
Rural Micro-Business Participation Loan Program
The Rural Micro-business Participation Loan Program is a variation of the Participation Loan Program designed to provide subordinated loans of up to 50% of a project (maximum $25,000) to Illinois Rural Micro-businesses through participating lending institutions. A rural micro-business is a for profit business that: (i) employs 5 or fewer full-time employees, including the owner if the owner is an employee, and (ii) is based on the production, processing, or marketing of agricultural products, forest products, cottage and craft products, or tourism. The borrower is required to provide equity of at least 10% of the project up to $1,000 (10% of a $10,000 project).
Vocational Rehabilitation (VR)
The goal of Illinois' Vocational Rehabilitation is to help people with disabilities find gainful employment that has a living wage and career advancement. Often, VR programs will offer employers (or potential employers) the services and supports needed to hire, train and retain disabled individuals.
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