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IL Gov Calls for Expansion of Jobs Plan to Include Green Economy Initiatives

March 17, 2010
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Gov. Pat Quinn unveiled last week the FY11 capital budget outlining the state's progress on the $31 billion Illinois Jobs Now plan enacted last year by the legislature (see the July 29, 2009 Digest). The governor is seeking an expansion of the program, which includes new appropriations for green economy initiatives within the Department of Commerce and Economic Opportunity (DCEO).

The Jobs Now plan provides funding for infrastructure, economic development, schools, and transportation and is financed by a combination of state debt and federal and local matching funds. To support renewable and energy efficiency businesses and component manufactures, the governor recommends a new appropriation of $30 million to DCEO for Green Business Development. Projects that develop and expand the renewable energy sector and corresponding supply chain that produce energy efficient products are being targeted, according to budget documents. DCEO also would receive funds for the following initiatives:

  • $40 million to develop Illinois-based Smart Grid projects such as communication technologies, testing equipment and facilities;
  •  $20 million for renewable energy grants used to develop hydroelectric power, wind power and ethanol production facilities; and,
  • $5 million for agriculture technology development.

 

Gov. Quinn also outlined a $55.1 billion total operating budget for FY11 that addresses a $13 billion deficit for FY10-11. The budget proposal includes $2 billion in proposed cuts and recommends an income tax increase from 3 percent to 4 percent. Funding generated by this increase would be used to restore deep cuts to education proposed in the budget, according to the governor's office.

To stimulate job growth by small businesses, the governor proposed a tax credit capped at $50 million for companies with 50 or fewer employees. Businesses creating green jobs, technology firms and manufacturers, among others, could receive a $2,500 tax credit for each full-time job created over the next year.

The FY11 operating budget is available at: http://www.state.il.us/budget/FY2011/FY2011_Operating_Budget.pdf.

The capital budget is available at: http://www.state.il.us/budget/FY2011/FY2011_Capital_Budget.pdf

Illinois