Data Centers Recieve Credits & Incentives from Illinois

Data Centers Recieve Credits & Incentives from Illinois

The data centers investment program provides owners and operators with exemptions from a variety of state and local taxes for qualifying Illinois data centers. The program also provides data center owners and operators with a tax credit of 20% of wages paid for construction workers for projects located in underserved areas.

Eligibility

New and existing data centers and their tenants collectively making a capital investment of at least $250 million over a 60-month period.

The data center owner/operator and its tenants create at least twenty (20) full-time or full-time equivalent new jobs associated with the operation or maintenance of the data center.

Total compensation for these jobs must be equal or exceed 120% of the median wage paid to full-time employees in the county where the data center is located.

The data center must also be carbon neutral or attain certification under one or more green building standards.

In order to receive the construction employment tax credit, the project must be located in an underserved area based on certain statutory criteria.

Certification

Qualifying Illinois data centers must apply to the Department for certification for the program.

Certified data centers must enter into a memorandum of understanding with the Department.

Containing statutorily-required terms and other terms deemed necessary by the Department.

The data center tax exemptions have a 20-year life span, which will result in 5-year increment certificates that are renewable assuming continued compliance with the relevant statutory, rule, and contractual provisions by the data center.

Managing editor of the Chicago Morning Star

Related Posts
$3 million allocated for historic Harrison St. project
In its first round of funding, the Illinois Historic Preservation Tax Credit Program (SHTC) has set
Former Scott AFB Airman Sentenced to Prison For Distributing Child Pornography
East St. Louis, Ill. – Jace Faugno, 25, of Paducah, Kentucky, has been sentenced to
Illinois Set to Enact New Law Limiting Criminal Convictions in Employment Decisions
Illinois has long limited employers from considering the criminal history of an applicant or employee
$31 million building permit issued for 12-story Fulton Market building
Chicago has issued a $31 million final building permit for 12-story office building at 237
Village of Machesney Park Celebrates 40th Anniversary
On Wednesday, February 24, 2021, the Village of Machesney Park will celebrate 40 years since
Developers break ground on three-building $25 million mixed-income housing project on Chicago’s Near North Side
Evergreen Real Estate Group and Structured Development say they have started construction on Schiller Place Apartments,
Postgame Central at Green Bay Gamblers
GREEN BAY, WISCONSIN — The Chicago Steel (19-6-2-0; 40 pts.) scored six goals in the
Two Federal Defendants Indicted on Charges Related to Attempted Escape from Sangamon County Jail
SPRINGFIELD, Ill. – Two federal defendants who were housed at the Sangamon County Jail, in
Deininger Floral Spreading Love To More Than 540 Residents On Valentine’s Day
FREEPORT, ILLINOIS — Whether during a pandemic or “normal” times, Valentine’s Day or no holiday
FHN Expands Mammogram Hours In Freeport
FREEPORT, ILLINOIS — Though it’s tempting to let things “slide” as we practice pandemic safety