Illinois Revs Up EV Battery Plant Talks

Governor J.B. Pritzker is personally negotiating with multiple companies to bring jobs and manufacturing to Illinois, reports Crain’s Chicago Business. On the table are hundreds of millions in incentives, due in part to a recently authorized state “deal closing fund” and willingness by local municipalities to consider the type of long-term property tax breaks that factory owners are demanding.

In December 2022, Governor Pritzker signed the Reimagining Electric Vehicles (REV) Act Amendment. The measure aimed to solidify Illinois’ position as a leader in the emerging electric vehicle manufacturing industry and further incentivized EV production across the state.

The REV Illinois Act includes tax credits for income tax withholding, training costs, tax exemptions, and investment credits, as well as allowing local jurisdictions to reduce property taxes for EV projects. In an effort to reduce using fossil fuels, Pritzker’s goal is to have one million electric vehicles on Illinois roads by 2030. 

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