Governor Expands Illinois Enterprise Zones

SPRINGFIELD -- Governor George H. Ryan today signed legislation that expands the State's Enterprise Zone program to allow targeted areas throughout Illinois to continue revitalization and economic development efforts.

House Bill 1991 increases the maximum number of years an enterprise zone may be in effect, from 20 to 30 years.

The first group of eight enterprise zones was designated on July 1, 1983, and would have expired within 3 years had this legislation not been enacted. There are now 93 enterprise zones statewide.

"Enterprise zones have been useful tools in helping to encourage investment and stimulate areas in need of new economic activity," Ryan said. "Since their establishment, Illinois' Enterprise Zones have helped to create 190,000 new jobs and assisted 23,000 Illinois companies statewide, and that's why it is important for us to support this program."

An enterprise zone is a specific area designated by the State of Illinois in cooperation with a local government, that allows businesses within the zone to receive various tax credits and exemptions on utilities and building materials, and for job creation and investments made. The Enterprise Zone Program is administered at the State level by the Department of Commerce and Community Affairs (DCCA).

"The key component of the Enterprise Zone Program is the partnership that exists with local governments to help spur new business activity in these areas," said DCCA Director Pam McDonough. "We believe that economic development begins at the local level and the Enterprise Zone Program is a perfect example of that philosophy in action."

Over the last 17 years the Enterprise Zone Program has generated over $17 Billion in new investment in Illinois.

"The bottom line is that enterprise zones work," Ryan added, "and I want to make sure that they continue to work for many more years."

House Bill 1991 was sponsored in the House by Representatives Howard Kenner, D-Chicago; Angelo "Skip" Saviano, R-River Grove; Todd Stoger, D-Chicago; and Doug Scott, D-Rockford. Senators Barack Obama, D-Chicago, Frank Watson, R-Greenville, James Clayborne, D-East St. Louis; Dennis Jacobs, D-Moline; and Carl Hawkinson, R-Galesburg sponsored the bill in the Senate.