ROCKFORD, Ill. — Illinois Gov. J-B Pritzker on Tuesday signed a new law creating economic incentives for electric vehicle production.
The measure provides tax credits to E-V manufacturers which in turn creates jobs and builds facilities in Illinois.
“With this bill, we intend to attract more E-V manufacturers, charging station manufacturers and automotive parts manufacturers, more than ever before. And, it will help Illinois become one of the leading E-V hubs in the entire nation,” Pritzker said.
The credits range from 75% to 100% of income tax withheld for creating new jobs or 25% to 50% for retained employees, depending on various factors such as company location.
“Rivian congratulates Governor Pritzker and the Illinois General Assembly on the passage of the Reimagining Electric Vehicle Act,” said James Chen, Vice President of Public Policy and Chief Regulatory Counsel at Rivian.
“This legislation will promote Illinois as a state that welcomes and supports the entire electric vehicle manufacturing ecosystem, bringing increased investment and clean energy jobs to the state as we tackle the challenges of climate change and fostering cleaner air,” Chen said.
Illinois’ Department of Commerce and Economic Opportunity Acting Director Sylvia Garcia said the goal of the new E-V law is to keep the state at the forefront of the industry.
“We know that E-V production is poised to protect billions of dollars in investment and create thousands of jobs in the U.S. in the years ahead. And, this program helps to position our state to capture growth and really makes sure that this industry is based here in Illinois,” Garcia said.
The governor says the E-V legislation is a major step towards his goal of having 1-million electric vehicles on the road by 2030.
