Joyce supports business development, job creation in new law

This post was contributed by a community member. The views expressed here are the author’s own.

SPRINGFIELD – With strong support from State Senator Patrick Joyce, a new law signed Wednesday aims to spur job and economic growth by creating new business incentives, and strengthening and expanding existing programs.

“A new Clean Jobs Workforce Hub in Kankakee will allow us to continue our work in clean energy while ensuring we have a workforce equipped to handle it,” said Joyce (D-Essex). “I’m excited for a workforce hub to open in our district and provide training programs that can later translate to successful careers, all while uplifting our economy.”

House Bill 5005 is an economic growth package that includes the creation of a Clean Jobs Workforce Hub site in Kankakee — the 14th workforce hub in the state. Joyce fought to secure the additional hub for the region. Kankakee Community College will serve as the community-based organization housing the new hub.

The package also expands eligibility for incentives under the Illinois Grocery Act, allowing grocery stores located in an Enterprise Zone — a designated area with available tax incentives aimed at stimulating economic growth — to also apply for the High Impact Business program. The HIB program supports large-scale economic development and offers incentives such as investment tax credits, construction jobs credits and sales tax exemptions on building materials and utilities.

Thanks to Joyce’s advocacy, the City of Kankakee was added to the list of towns eligible for the River Edge Redevelopment Zone Program in 2023. The program helps revive dilapidated and environmentally challenged properties adjacent to rivers in Illinois. Building on the success of the program, there are seven new municipalities that have been added as new pilot zone sites this year.

Find out what’s happening in New Lenoxwith free, real-time updates from Patch.

Additional provisions in the law include incentives for electric vehicle manufacturers; tax credits for companies that manufacture microchips, semiconductors and component parts; and expanded eligibility for businesses under the Illinois Economic Development for a Growing Economy program.

“We have held onto the promise to create an environment where businesses thrive,” said Joyce. “With incentive programs like these and other updated business development tools, we are continuing to pave the way for a bright economic future.”

House Bill 5005 goes into effect immediately.

The views expressed in this post are the author’s own. Want to post on Patch?