BELVIDERE, Ill. (WTVO) — Gov. JB Pritzker was in Belvidere on Tuesday to sign a bill designed to attract electric vehicle (EV) manufacturers to Illinois.
The new incentives benefit the state’s entire EV ecosystem, by helping to build facilities, train Illinois graduates, and create thousands of jobs.
“By signing the Reimagining Electric Vehicles in Illinois Act into law, we’re making clear to the world that Illinois is open for business and on track to be the best place in the nation to manufacture and drive an electric vehicle,” said Pritzker. “It’s no secret that transportation is the leading source of climate pollution – so we’re incentivizing green economic development. It’s good for business – and it’s the right thing to do. The Reimagining Electric Vehicles Act is about acknowledging there doesn’t need to be a trade-off between a cleaner environment and more jobs. We can do both, and today we take a giant leap forward in that quest.”
The credits range from 75 percent to 100 percent of income tax withheld for creating new jobs or 25 percent to 50 percent for retained employees, depending on various factors such as company location.
The governor has set a goal of putting 1 million electric vehicles on Illinois roads by 2030.
Earlier this year, Illinois passed a clean energy law which included a $4,000 rebate for residents who buy an EV, starting in June 2022.
Stellantis, which currently produces the Jeep Cherokee in Belvidere, is in the process of determining sites for manufacturing electric vehicles. REV Illinois would include tax credits and job training for auto makers and supply chain businesses that come to Illinois.
“With new federal and state goals and changing consumer priorities, automakers are looking to rapidly scale the production of electric vehicles in the United States,” said Sen. Steve Stadelman (D-Rockford). “We have a narrow, critical window now to stimulate EV investment across Illinois and preserve and create thousands of jobs at the Stellantis plant in Belvidere.”
Earlier this year, Governor Pritzker announced the creation of two new Manufacturing Training Academies in Illinois, including a first-of-its-kind Electric Vehicle-Energy Storage Manufacturing Training Academy which specializes in training the Illinois workforce for careers in the EV industry.
Illinois currently ranks ninth in the nation for auto production, employing more than 30,000 people. The state is already home to more than 5,000 workers in the electronic transportation industry, and these numbers are expected to double in the next two years.