Incentives

Workforce Incentives

An experienced and hardworking workforce is one of the most important factors to having a productive and profitable facility. Whether your employees are new hires or need additional training on new equipment, the State of Iowa and State of Illinois have programs to ensure employees have the skills needed to succeed.

In Iowa, the Clinton Community College implements the programs and training for employees and managers. For new employees, the 260E program can help your company to provide training classes, bring in trainers to your facility, or send managers to training conferences. There are widespread possibilities for its use.

In Illinois, the Department of Commerce and Economic Opportunity has a program called the Employer Training Investment Program. For companies who qualify, they can receive training funds as part of their Economic Development incentive package from the state.

Financial Incentives

In this section you’ll learn about all the incentives in the Clinton Region, that provide companies a competitive advantage. These incentives might include Tax Increment Financing (TIF) in either state or the Enterprise Zone Program in Illinois

For more information on these and other programs, please email Erin Cole. Also, see the attachments located at the bottom of this page for detailed information on these financial programs.

In this bi-state community, we work with localities and states on each side of the river to help new and local companies thrive in our region. Each city and town each have their own incentives tools which are leveraged to increase productivity and job creation.

Illinois has several financial incentives to help companies locate in the state.

  • 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 Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state.
  • Small Business Job Creation Tax Credit is available to small business owners and not for profits to provide tax credits for job creation at Illinois small business.

Iowa also provides incentives to help local and new companies prosper.

  • The High Quality Jobs Program provides qualifying businesses tax credits to off-set the cost incurred to locate, expand or modernize an Iowa facility.
  • The Innovation Fund Tax Credit program was created to stimulate venture capital investment in innovative Iowa businesses. Individual investors can receive tax credits equal to 25 percent of an equity investment in a certified Innovation Fund.
  • R&D Tax Credit is used by companies in various industries, including manufacturing and technology, that can benefit from the credit if they develop new or improved products, manufacturing processes, software applications for sale to customers.