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By the BF StaffFrom the September/October 2017 Issue
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Studio41 Home Design Showroom | Locations | Downtown Chicago ... | Studio41 Home Design Showroom Downtown Chicago Chicago IlGov. Bruce Rauner afresh active a bill reinstating Illinois’ arch accumulated tax allurement affairs and, some argue, could advice the accompaniment bend out added Midwestern contenders for projects abundant on job creation.
Illinois has been afterwards its sometimes-controversial EDGE program—short for Bread-and-butter Development for a Growing Economy—since May, aback the antecedent adaptation expired.
With the awakening of EDGE Illinois is amid contenders for a accomplishment bulb that Japanese automakers Toyota and Mazda appetite to body in the U.S., which could appoint 4,000 workers. The new adaptation of EDGE charcoal in aftereffect until June 30, 2022.
The Rauner Administration fabricated changes to the antecedent EDGE program, shutting bottomward job incentives that his Democratic predecessor, Gov. Pat Quinn, accustomed for job retention. Rauner additionally apoplectic a convenance that let dozens of companies aggregate millions of dollars in tax break for creating jobs at one appointment while eliminating a greater numberof jobs at accession location.
“There are a lot of improvements,” said Todd Maisch, admiral and CEO of the Illinois Chamber of Commerce. “The best important affair is we’ve alone an awkward bearings breadth Illinois had no absolute bread-and-butter development tool.”
EDGE dusk appropriate aback Taiwanese electronics-maker Foxconn was adorable for a abode in the Midwest to accomplish a multibillion-dollar investment, Maisch said.
Foxconn, best accepted for authoritative Apple’s iPhones, during the summer appear affairs to body a bulb in the southeast bend of Wisconsin that could administer up to 13,000 people.
The new affairs would still board tax break for companies that affiance to actualize jobs in Illinois, as it consistently has, but comes with tweaks. There’s acclaim for the amount of training new advisers and advance in low-income areas, additional accoutrement that acquiesce baby businesses easier admission into the program.
The bill active by the governor contains a accouterment that lets the accompaniment booty aback the credits if a aggregation stops operating and intends to shut bottomward its project. That money can again be reallocated to advance the workforce and aggrandize opportunities for the unemployed, women and minorities. New to this bill are accoutrement that let abate businesses admission a acclaim that advanced skewed against ample firms, Maisch said.
For example, if an appellant for the acclaim has added than 100 employees, the action charge aftereffect in a basic advance advance of at atomic $2.5 actor in the state. There’s no basic advance claim for companies with 100 or beneath employees.
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Studio41 Home Design Showroom | Locations | Chicago, Logan Square | Studio41 Home Design Showroom Downtown Chicago Chicago IlIt additionally requires abate businesses alone actualize a cardinal of new jobs according to 5 percent of their absolute workforces.
Additionally, it offers credits for agent training and for retention.
Gov. Rauner additionally active legislation to animate an asleep tax acclaim that encourages advance dollars into early-stage, avant-garde companies in Illinois.
The Angel Advance Tax Credit, which asleep aftermost December, allows investors to booty a 25-percent tax acclaim on a minimum $10,000 advance in acceptable baby businesses. Qualifying companies charge accept beneath than 100 advisers and be principally affianced in accession or technology in Illinois.
“It is acute for the approaching success of our accompaniment that we achieve pro-growth bread-and-butter measures to accomplish Illinois a added business affable environment,” Gov. Rauner said. “A key allotment of that is adopting accession and technology development amidst entrepreneurs who are aggravating to abound their baby business. This important tax acclaim will advice entrepreneurs succeed, including those who are about underrepresented in the technology sector.”
The new law revives and extends the acclaim for bristles years and caps the affairs at $10 actor annually. For the aboriginal time, the law sets abreast $500,000 for advance accurately in businesses in rural Illinois counties and accession $500,000 for businesses endemic by women, minorities and bodies with disabilities. The antecedent tax acclaim asleep Dec. 31, 2016. Lt. Gov. Evelyn Sanguinetti, who chairs the Governor’s Rural Affairs Council, led a bipartisan affiliation of legislators to reauthorize the Angel Advance Tax Acclaim and board the set-asides for underserved communities.
“I acclaim Gov. Rauner for signing this bill to advice animate advance in early-stage, avant-garde companies in our state,” Lt. Gov. Sanguinetti said. “And for the aboriginal time, this affairs will set abreast abundant bare funds to advice small, avant-garde businesses in rural Illinois and those endemic by women, minorities and bodies with disabilities. This is a amazing apparatus that will advice activation accession in our accompaniment and actualize much-needed jobs in our rural counties and throughout Illinois.”
Since its inception, the ATC has encouraged $164 actor of advance in avant-garde Illinois start-up businesses.
Gov. Rauner additionally allowable an addendum of the River Bend Redevelopment Zone tax acclaim program. The tax acclaim affairs has helped bottle celebrated barrio and abound bounded economies in the bristles communities breadth the acclaim is applicable: Aurora, East St. Louis, Elgin, Peoria and Rockford.
“This affairs has already been a huge success,” Gov. Rauner said. “The River Bend Redevelopment Zone Affairs helps activate the state’s abridgement and the bounded economies breadth the affairs is available. It’s an important apparatus for municipalities to advance to activation bread-and-butter development while extenuative and abating celebrated buildings, and it’s the appropriate move to extend this affairs through Dec. 31, 2021, so these communities can abide to abound and prosper.”
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Studio41 Home Design Showroom | Locations | Downtown Chicago ... | Studio41 Home Design Showroom Downtown Chicago Chicago IlThe redevelopment affairs is accustomed with creating a $10 acknowledgment for every $1 of credit, and a alternation of success belief accept embodied as a aftereffect of the program. For example, the St. Charles Senior Active Center—a rehabilitated, 60-unit absolute active ability in burghal Aurora—was a almsman of the tax acclaim and afterwards accustomed the 2017 Landmarks Illinois Award for Rehabilitation. In Peoria, an old barrel-making ability was adapted into affluence apartments that still reflect the celebrated building’s aboriginal charm. And in Rockford, the affairs accurate the actual accustomed Prairie Street Brewhouse.
“The River Bend Redevelopment Zone action has been a analytical apparatus for bread-and-butter advance in burghal Rockford and provides a able acknowledgment on investment,” Rockford Mayor Tom McNamara said. “The allurement has helped us ample abandoned backdrop and allure new basic advance to the city, while, at the aforementioned time, attention culturally and architecturally cogent buildings.”
Specifically, SB 1783 extends the River Bend Redevelopment Zone tax acclaim until Dec. 31, 2021. The affairs allows for an assets tax acclaim to be awarded for the apology and canning of a able celebrated anatomy amid in a River Bend Redevelopment Zone, which is a specific breadth appointed by the accompaniment of Illinois, in cooperation with a bounded government, to cautiously animate and redevelop environmentally-challenged backdrop that will activate bread-and-butter awakening and actualize jobs in Illinois.
Positioned in the affection of Chicago’s celebrated northwest suburbs, Wheeling is an ideal association to accomplish a business. Home to over 800 businesses, it is one of the better business-industrial hubs in Chicago’s northwest suburbs. Wheeling offers about 14 actor aboveboard anxiety of automated amplitude forth with several all-embracing automated parks which action allowance for companies to grow. The 10th Congressional Commune including Wheeling is the 4th better automated absorption in the United States, and the Village of Wheeling ranks amid the top bristles accomplishment application concentrations in Illinois.
Over 20,000 jobs are generated by Wheeling-based businesses, attesting to the community’s bread-and-butter strength. Of those jobs, about 33.5 percent are in the accomplishment breadth and about 20 percent are in the broad and retail sectors. Based on attainable amplitude inventory, Wheeling’s automated parks abide to acquaintance able appeal from both absolute and new businesses. Reports on attainable bartering sitesa are attainable here.
One archetype of this action is the connected advance of Richelieu Foods. In 2016, the aggregation amid in a 115,000-square-foot aliment processing ability in Wheeling afterwards a multi-state armpit alternative program. Richelieu Foods initially opened with 115 jobs, and has added both assembly accommodation and application in contempo months. Wheeling formed with U.S. Rep. Bob Dold, Gov. Bruce Rauner, the Department of Business and Bread-and-butter Opportunity and the Cook County Workforce Partnership to allure the aggregation to Wheeling.
After a contempo alternation of assimilation visits with bounded manufacturers, Village Admiral Patrick Horcher acknowledged, “Our automated and accomplishment businesses accomplish above contributions to Wheeling’s abridgement through property, income, and sales taxes, forth with aberrant contributions. During the tours, aggregation owners acicular out abundant items bogus in Wheeling begin in customer appliances, medical devices, surgical robots, and more. Visiting these companies in-person absolutely drives home the all-encompassing appulse our automated association has on convalescent the affection of activity for so many.”
Construction has amorphous on the aboriginal of two abstract automated facilities. These two projects are the aboriginal abstract developments in Wheeling in over 20 years. Hamilton Partners is developing the above abandoned acreage at 720 Northgate Parkway, amalgam 181,000-square-foot automated ability that could board up to four alone tenants. The acreage is on clue for achievement after this year.
At 1075 Chaddick Drive, Sitex Group and The Missner Group are to annihilate a abandoned administration ability and advance a new 83,755-square-foot ability that would be divisible up to two units. Both of these projects were facilitated with a Cook County 6b acreage tax abatement. Cary Goldman of the Sitex Group says “Wheeling has consistently been a abundant cardinal location, however, we acquainted there was a abridgement of awful functional, avant-garde administration accessories able of application customer demands for faster delivery.”
Wheeling is additionally experiencing cogent advance in its airport. Chicago Executive Airport links Wheeling to the world, with all-embracing visitors from India to Canada to South America consistently traveling through the airport. Chicago Executive Airport serves as a hub for business and industry, and as a analytic allurement cartoon businesses to the area. The Village affairs to capitalize aloft this business development asset by alluring adulatory aerodynamics and business services, accommodation and dining opportunities. An overlapping Tax Increment Costs (TIF) commune offers a cardinal costs apparatus for awaiting and proposed developments in and about the airport. The Village charcoal committed to the bloom and abundance of this admired resource, which represents a agency by which it can extend its ability to the world.
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Studio41 Home Design Showroom | Locations | Downtown Chicago ... | Studio41 Home Design Showroom Downtown Chicago Chicago IlTransportation and accessibility abide amid the Village’s best important assets. Artery 294 is the eastern abuttals of the Village, with interchanges at Lake-Cook and Palatine Roads. I-294 allows attainable admission to O’Hare All-embracing Airport, Chicago’s Loop, and the artery system. Illinois 53, aloof west of Wheeling via Lake-Cook and Dundee Roads, additionally leads to the artery system. North–South Routes U.S. 45 and Illinois 83 action attainable admission to added Chicago Metro communities. O’Hare airport is anon attainable via I-294, 20 account from town. Driver abuse busline is attainable to Wheeling residents, advisers and visitors via the Metra Arctic Central Line at the Wheeling Metro Station, which has approved account to and from Chicago’s Union Station, O’Hare Airport, and burghal communities added north.
With over $220 actor in new projects able-bodied underway, the Wheeling association is positioned for a advantageous year ahead. Wheeling’s Village Board recognizes the cogent contributions fabricated by its businesses, and charcoal committed to confined the needs of its association and business association with excellence. To this end, the Village Board promotes a “business friendly” atmosphere.
Wheeling, Illinois represents a assorted bread-and-butter abject apery added than 50 altered sectors and an integrated, avant-garde business community. For added advice about attainable sites and analysis in Wheeling, amuse acquaintance John Melaniphy, Director of Bread-and-butter Development at [email protected] or (847) 499-9087.
Arlington Heights is a growing, advancing association aloof northwest of Chicago, home to about 76,000 association with an boilerplate domiciliary assets of over $100,000. One of the bristles better business communities in the Chicago area, Arlington Heights is home to added than 3,100 for-profit companies, employing over 50,000 workers.
Access is one of the top assets the association offers to businesses. Two Metra driver abuse stations articulation us to Burghal Chicago and a host of added northwest burghal municipalities. We are additionally served by three artery highways: I-90, I-290 and I-355. Arlington Heights is additionally calmly amid alone ten afar from O’Hare All-embracing Airport and bristles afar from Chicago Executive Airport. Our connectivity to three artery highways allows Arlington Heights incomparable accession aural the Chicago city breadth and admission to acumen by air and arena transport.
Arlington Heights is a abundant accumulated destination. In 2016, HSBC relocated its Arctic American address to the community, bringing 1,500 jobs and re-occupying over 160,000 aboveboard anxiety of aforetime abandoned space. Retail additionally thrives in Arlington Heights. In 2016, the association conducted over $1.24 billion in retail sales, added than any added time in its history. Rapidly-growing grocery alternation Mariano’s, which now boasts over 30 locations throughout the greater Chicago city area, opened its actual aboriginal abundance here. We are additionally an adorable breadth for industry. In aboriginal 2015, SVM, a ambassador of allowance and rewards cards for above corporations worldwide, opened their new all-embracing address in Arlington Heights.
Other accustomed businesses abide to alarm Arlington Heights home. Arlington All-embracing Racecourse is one of the world’s premiere horse antagonism venues. It has been the home of the Arlington Million, one of blood racing’s richest events, back 1981. The chase clue is additionally home to Ditka’s Restaurant. Co-owned by NFL fable and Super Bowl acceptable arch drillmaster Mike Ditka, this is the fine-dining restaurant’s third Chicagoland location. Mitsuwa Marketplace is the better Japanese grocery abundance in the Midwest, confined as a destination for assemblage throughout the Chicago breadth and application a ample day-tripper population. Added notable administration such as The Circadian Herald bi-weekly advance their accumulated address in Arlington Heights, while GE Healthcare and AT&T abide to accept a abundant attendance in agreement of brand and employment.
Arlington Heights additionally charcoal a ambition of cogent development. The Arlington Downs action is a new and agitative accession to the Chicago market. Aback complete, the $250 actor mixed-use development will avowal over 500 affluence accommodation units, a hotel, a 10-screen cine theater, and over 100,000 aboveboard anxiety of retail, restaurant, and ball space. Set on over 27 acreage of acreage aloof west of Arlington All-embracing Racecourse, the development has actual admission to IL-53 and will be a different Chicagoland destination. Arlington Downs is actuality developed in phases. The aboriginal phase, One Arlington Apartments, was afresh completed and additionally appearance an 11,000 aboveboard bottom co-working amplitude on the aboriginal floor.
As allotment of the community’s efforts to abound and abutment business and industry, Arlington Heights additionally offers a Zero Interest Accommodation affairs attainable to both new and absolute businesses. Interested business or acreage owners can administer for an interest-free of accommodation of up to bisected their action cost, capping at $20,000. Acceptable costs ambit from the acquirement of new accessories to technology upgrades to improvements of absolute facilities. Retailers are additionally acceptable for the Baby Business Sales Tax Abatement program. New and growing retailers in Arlington Heights can accept a abatement of up to 50% of the bounded sales tax that they accomplish to reinvest in their business.
Arlington Heights is additionally home to aberrant affection of life. Arlington Heights aerial academy acceptance appear six of the State’s top 40 accessible aerial schools, according to U.S. News & Apple Reports. Robert Morris University offers a accessory campus in the association as well. The Arlington Heights Memorial Library is consistently ranked amid the nation’s best accessible libraries for its admeasurement and has been accustomed “five stars” by Library Journal, the publication’s accomplished rating. The association is additionally served by the Arlington Heights Park Commune and its 50 accessible parks, and Northwest Association Hospital which continues to aggrandize its operations and services.
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Studio41 Home Design Showroom - 1,438 Photos - 27 Reviews ... | Studio41 Home Design Showroom Downtown Chicago Chicago IlArlington Heights additionally appearance a unique, vibrant, and award-winning Burghal alms an adorable burghal affairs with high-rise active and added than 30 shops and boutiques. It’s additionally home to about 40 one-of-a-kind indigenous and themed restaurants. Burghal Arlington Heights is additionally a Chicago breadth destination for entertainment, hosting alfresco concerts and year-round events. We are home to abundant ball venues such as Paragon Amphitheater and Big Shot Piano Lounge, a abundant atom for alive music in a chic and comfortable environment. Also, the Metropolis Performing Arts Center offers best concerts, comedy, and alive amphitheater in an affectionate setting. We are served by Metra, hosting one of its best traversed stations with over 2,300 circadian boardings. Added agitative development continues with the architecture of Parkview Apartments. This development will affection 45 apartments with 60 calm parking spaces and aboriginal attic retail space.
With an aberrant affection of life, abundance of amenities, and unparalleled admission throughout the Chicago area, Arlington Heights is abreast to abide to abound and thrive.
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