Nearly fifty enterprise zones across the state, including three in Madison County, are in limbo while Illinois lawmakers are at a budget impasse. That’s according to the Department of Commerce and Economic Opportunity. Enterprise zones are special areas counties and cities carve out for tax incentives on new development.
In a release Director Jim Schultz says DCEO will not certify the zones because of the current fiscal uncertainty and ongoing budget impasse. Schultz says issuing tax incentives without addressing cost drivers is a disservice and says the local and state tax incentives cannot be effective while the state continues to quote “bleed jobs due to high costs of doing business.” Among the 49 recently approved zones that are not being certified are the Riverbend, Southwestern and Gateway Commerce Center Zones in Madison County, five zones in Chicago, zones in Cook and Will Counties, zones in Champaign City and County, Springfield and Sangamon County, and two zones in Rockford.