SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
New job training tax credit pushed

Tuesday, May 20, 2014

* Greg Hinz has some details of a new proposal to help spur hiring

The proposed Illinois State Employment and Training Program, or I-Step, would give a credit worth as much as $5,000 per job for training net new hires for Illinois operations, after factoring in any job cuts.The credit would apply not only against a company’s state income tax liability but against individual income taxes it withholds from employee paychecks — a much more lucrative deal for many companies. […]

(T)he tax credit would cover training costs in the first year of employment and amount to 75 to 100 percent of costs, the larger figure in the case of jobs that will be particularly long-lived.

The jobs must pay at least 175 percent of the federal minimum wage and be posted for at least two weeks on a state job board… The key change was an agreement that would allow a company to still reduce employment in one location, so long as it was adding jobs in another location at least 60 miles away from the first. […]

By itself, the program probably won’t be enough to lure a company to Illinois, [the IMA’s Mark Denzler] said. But it will be “beneficial” for existing employers considering expanding, particularly since the program will be “automatic” and not require special approval by state bureaucrats in each instance.

Discuss.

- Posted by Rich Miller        


6 Comments
  1. - VanillaMan - Tuesday, May 20, 14 @ 2:56 pm:

    Sorry, but I-Bankrupt.


  2. - Walker - Tuesday, May 20, 14 @ 3:14 pm:

    I thought this was in a bill passed and signed in 2010. Does it take this long for things to actually get to market?


  3. - Formerly Known As... - Tuesday, May 20, 14 @ 3:30 pm:

    Not sure about any sort of “corporate welfare” at the moment.

    Income tax revenue from a newly created job would seem to be needed in Illinois’ coffers right now, much more so than in those of a successful company that is expanding their business. But without this “handout”, that new job may not be created at all and we lose out on the associated tax revenue such as gas tax, sales tax and so on from that new employee.

    Ultimately, it seems highly unlikely a successful company would not expand simply because the state will not reimburse the company up to $5,000 for the costs of training their new employee. That new employee will likely make the company more than $5,000 in profit during their first year alone and for many years after.


  4. - Jeff Trigg - Tuesday, May 20, 14 @ 4:58 pm:

    No more corporate welfare please. This favors big business over small business, which makes it even worse. The Starbucks franchise will be much more likely to take advantage of this than the family-owned local coffee shop.


  5. - wordslinger - Tuesday, May 20, 14 @ 6:33 pm:

    –The credit would apply not only against a company’s state income tax liability but against individual income taxes it withholds from employee paychecks — a much more lucrative deal for many companies. […]–

    Ugh. I hate this scam. You take taxes from me and give it my boss?

    There are a lot of risk-takers out there in the Illinois business world, but they sure aren’t among the fat cats at the taxpayer trough.

    Sad, but true.


  6. - Judgment Day - Wednesday, May 21, 14 @ 8:43 am:

    Poorly designed. I’m sure this legislation works for somebody, but when you look at all the hoops an employer has to jump through, this ‘thing’ is virtually useless for any small employer. Better off spending time on the business, and ignoring the State of Illinois.

    I count at least six (6) regulatory ‘hoops’ for businesses to jump through to obtain eligibility. Even when we try and do something right, we screw it up.

    Oh well, at least we’re not France - yet.

    http://www.zerohedge.com/news/2014-05-20/socialist-efficiency-france-mistakenly-orders-2000-trains-which-are-too-wide-its-pla


TrackBack URI

Sorry, comments for this post are now closed.


* Tomorrow's news today
* Oddities and ends
* Durbin launches second positive ad
* *** UPDATED x3 - Full Rauner response - Rauner issues statement - Quinn responds *** Question of the day
* Black radio ad slams Rauner for failure to hire a single African-American at company
* Today's chart
* *** UPDATED x1 - Quinn responds *** Rauner unveils ethics reform plan
* Today's number: 30 percent less likely
* Bigfooted by the Trib
* *** UPDATED x1 - Bustos responds *** Schilling ad attacks Bustos over budget cuts
* *** UPDATED x1 *** SUBSCRIBERS ONLY - Supplement to today’s edition: Crosstabs, TV ads, cable TV buys and an events list
* Quinn moves to second negative track
* Rate Bruce Rauner's new TV ad: "100 years of failure"
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Sony forecasts quadruple losses due to smartphone business
        * Samsung Galaxy Note 4 sales to begin a little early
        * HTC delivers new imaging features in latest Gallery update
        * Beach Buggy Racing has 12 tracks and multiple karts to choose
        * OnePlus scraps further plans for One StyleSwap covers
        * Memoir Debuts A “Predictive” Photo-Sharing App For iOS 8
        * Spacecom review: A rousing game of strategy between a bunch of triangles

        * Office Gadgets to Make Workdays Fun Again
        * Journalism school shuts down its print newspaper, will publish everything on Medium
        * New iOS 8 Keyboard Translates Your Text Into Emojis
        * Bug Delays Launch of Apps Using Apple’s HealthKit in iOS 8
        * “It’s Like an iPad!” Real People — Not Tech Reviewers — Hold iPhone 6 and 6 Plus.
        * Sudden Management Shift as Hampton Creek Seeks to Raise $50M on a $300M to $400M Valuation From Vy Capital, Others
        * SwiftKey Brings Swipe-to-Type and Predictive Text to iOS 8

        * Following up: Adam Eaton's second half, Chris Sale's schedule
        * Gillaspie, White Sox solve Royals' bullpen
        * White Sox 7, Royals 5: Kansas City bullpen titans falter
        * Sale seeks another stellar start in KC, series win
        * Gillaspie, White Sox solve Royals' bullpen
        * Out call on Viciedo confirmed on replay
        * High hopes, no set plan for Konerko's remaining ABs


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Gov. Quinn announces aluminum company locating .....
        * Quinn, Rauner ads focus on corruption..
        * Quinn blasts NFL owners with dig at GOP opponent..
        * Rauner Would've Vetoed Medical Marijuana Bill..
        * GOP appeal seeks to knock Libertarian off ballot..
        * Local party leaders ‘confident’ about November .....


        * Warrant: SC dad feared 5 slain kids would kill him
        * Peoria forgoes search, promotes interim cop chief
        * Woman gets prison sentence in 5-year-old's death
        * Emanuel wants no more signs as large as Trump's
        * Herbicides indirectly kill fish in Manteno lake
        * GOP appeal seeks to knock Libertarian off ballot
        * Rauner ethics plan targets lobbyists, lawmakers
        * Ex-deputy gets 50 years prison in child sex case
        * Hundreds apply for jobs at Illinois Thomson prison
        * Beanie Babies creator's sentence debated in court

        * White to focus on technology, highway safety in fifth term
        * Quinn blasts NFL owners with dig at Rauner
        * GOP appeal seeks to knock Libertarian gubernatorial candidate off ballot
        * Rauner’s ethics reform plan targets lobbyists, lawmakers
        * Hundreds apply for jobs at northern Illinois federal prison
        * Rauner questions medical marijuana program secrecy
        * New subpoena issued for Quinn’s anti-violence program
        * Evans: Eliminate conflicts of interest in legislature
        * State legislative panel delays decision on fracking rules
        * Quinn: Monitor not needed to oversee state hiring

        * Old Second CEO retires after 42-year bank career
        * Leo Burnett, WPP lose Miller Lite ad account to TBWA
        * Pizza Hut testing 'skinny slice'
        * Photos: Pizza Hut testing 'skinny slice'
        * New U of I med school gets faculty green light


        * Trump happy over Emanuel crackdown on signs
        * Zimbabwean president wants to testify for Chicago businessman, lawyer says
        * HITTING A CHILD IS ALWAYS WRONG
        * 16-year-old is second person charged in fatal home invasion
        * Appeals court to decide if Beanie Baby billionaire got off easy
        * River ordinance is sign of good taste
        * Highland Park woman sentenced to five years for running over, killing 5-year-old girl
        * Emanuel wants last word in sign war with Trump
        * Highland Park teen to be sentenced for running over, killing 5-year-old girl


        * TSA chief: Nearly half of U.S. air travelers going through expedited security
        * 3 wounded in city shootings
        * Chicago Public Schools' personnel chief steps down
        * Third person arrested in fatal shooting of retired police sergeant
        * 5 years in 'huffing' crash that killed girl, 5
        * Rauner, Quinn ramp up ethics barbs in Illinois governor race
        * Prosecutors: Woman smothered over shoes, money
        * After 'awful' Trump Tower sign, mayor proposes restrictions along Chicago River
        * Chicago officer's widow sues over fatal Calumet Park police chase
        * Ex-sheriff's deputy gets 50 years in child sex abuse case


        * I Like Illinois Website Debuts, In Time For The Election
        * Cullerton: I LIKE Illinois!
        * Trauma Care Decision Highlights Competition Between Springfield Hospitals
        * Springfield Art Co-Op Founder "Blossoms" On East Coast
        * Springfield Mayor Houston Points Out Sewer Improvements
        * Mayor: We Are Doing Sewer Work
        * N.J. Gov. Christie Stumps For Rauner In Springfield
        * Fracking Rules Action Delayed; Could Be A Sign Of Revision
        * Who Owns The Rights To Vivian Maier's Photos?
        * Legislature Approved A $100 Million Tax On Business & Didn't Know It


        * White to focus on technology, highway safety in fifth term
        * Quinn blasts NFL owners with dig at Rauner
        * GOP appeal seeks to knock Libertarian gubernatorial candidate off ballot
        * Rauner’s ethics reform plan targets lobbyists, lawmakers
        * Hundreds apply for jobs at northern Illinois federal prison
        * Our Opinion: Carbon monoxide alarms belong in schools
        * Rauner questions medical marijuana program secrecy
        * New subpoena issued for Quinn’s anti-violence program
        * Evans: Eliminate conflicts of interest in legislature
        * Michael Gerson: Leading from behind the curve


        * Herrin man gets six years for criminal damage
        * Heartland balances budget despite drop in enrollment hours
        * Group expressing interest in becoming medical marijuana sites
        * UI professor: MacArthur award 'completely blindsided me'
        * I-80 bridge at LeClaire closed in both directions
        * Updated: Driver's facility to reopen Tuesday, with limits; property management disputes state claim
        * Johnson County Junque Jamboree comes to Vienna Saturday
        * Coroner: Smoking and home oxygen machines led to deaths
        * SAR gives awards to paramedic, sheriff
        * 09-17-14 News-Gazette Prep Sports Podcast


        * FSU benches Winston for 1st half of Clemson game
        * Sugar Grove man gets 7 years for cemetery thefts
        * Injured Marlins star Stanton finished for season
        * Panthers remove DE Greg Hardy from active roster
        * Fed signals plan to keep key rate at record low

        * Patrick Cannon defense strategy rare but n...
        * Feds fine Jesse Jackson Jr.'s campaign com...
        * Jesse Jackson Jr. political fund fined nea...
        * Jackson Jr.'s political fund fined nearly ...
        * 'Celebrity Crime Files' Season Three, With...
        * Ex-Congressman Jesse Jackson Jr. faces sen...
        * Shimkus Discusses Presidential Policies - ...
        * Hultgren, Roskam to Host Service Academy D...
        * Shimkus not taking election for granted - ...
        * At a glance: How metro-east residents vote...

        * Senator Durbin Applauds Decision to Raise ......
        * Senator Durbin Applauds Decision to Raise ......
        * Senator Durbin Applauds Decision to Raise ......
        * Dems Give Business a Thorny Embrace...
        * Dems Give Business a Thorny Embrace...

        * Shangri La's Barr al Jissah ResortSpa to o......
        * ISIS fight: Congress to vote on arming Syr......

        * Neil Steinberg compares opposition to Israeli policies and campus rape.
        * Richard Skoda’s dreams.
        * S.O.R.E. field trip. Town Hall with Senators Biss and Manar on school funding, Special Needs.
        * Learning Disabilities Association (LDA) of Illinois opposes SB16.
        * Chicago’s Marshall High School and Zombie education reform.
        * California public pension funds to hedge fund managers: “Drop dead.”
        * Leadership.
        * Hooray for cartoonists.
        * Biss and Manar want schools to make do with less. SB16.
        * Susan Sadlowski-Garza.


        * Rauner Launches New TV Ad: 100 Years
        * 100 Years
        * Bruce Rauner Announces Ethics Blueprint
        * Across Illinois, They’re Talking About Pat Quinn’s Corruption
        * New subpoena in federal probe of Quinn anti-violence grant program




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller