Legislation extending EDGE program signed by Gov. Rauner

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DECATUR, Ill. (WAND) - Legislation that extends a tax-credit program aimed at stimulating local economic growth has been signed by Governor Bruce Rauner.

Under House Bill 162, the Economic Development for a Growing Economy (EDGE) program will be extended through June 30, 2022.  As a result, the Department of Commerce and Economic Opportunity will be able to continue to offer tax credits to businesses that want to grow or start operations in Illinois.

Additionally, businesses who receive tax credits and decide to move out of Illinois during the term of agreement will be required to return the entire amount received.  Officials say the money would then be reallocated to the local workforce in the area where the project was originally located.

One of the bill's sponsors, State Representative Sue Scherer (D-Decatur) says, "This new law is to help attract businesses to invest in Illinois and improve the economic climate in our local community and throughout Illinois.  I commend my colleagues on both side of the aisle in working together to help Illinois' economy and move our state in a much better direction."

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