Utility Tax Exemption Program

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The Quad Cities Regional Economic Development Authority (QCREDA) administers the QCREDA Enterprise Zone. The Illinois Enterprise Zone Program allows companies with large investments and jobs to be eligible for EXPANDED state tax exemptions as incentives to encourage businesses to make a new investment on property within the Zone. This stimulates business activity and creates new employment opportunities. Local units of government can opt to also provide local incentives in an Enterprise Zone.

Eligibility

Job Requirements

A business in an enterprise zone is eligible to receive an exemption of utility taxes if they:

• Create 200 full-time-equivalent jobs and invest at least $5 million in qualified property; or
• Create 150 full-time-equivalent jobs and invest at least $175,000,000; or
• Retain 1,000 full-time-equivalent jobs and invest at least $20,000,000.

Location Requirements

The QCREDA EZ can be expanded to add territory for a business project in the Illinois counties of Carroll, Henry, Jo Davies, Knox, Lee, Mercer, Rock Island, Stephenson and Whiteside.

Benefits

Natural Gas Tax Exemption

The Natural Gas Tax Exemption is the lower of 2.4 cents per therm or 5.0% of the customers billing period.

Electric Tax Exemption

The Electric Tax Exemption is the 5.1% tax and the Illinois Commerce Commission’s administrative charge.

Telecommunication Tax

The Telecommunication Excise Tax is available to businesses located in enterprise zones

Long-Term Scope

Each certification is for a period of five years and can be renewed in five-year increments for up to thirty years

Job Creation

The program allows created or retained contractor jobs that work 35 hors per week or 1,820 hours per year

Apply Here!