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High Impact Business (HIB)

Published on January 12, 2011 - 12:10pm

Encourages large-scale economic development activities by providing tax incentives (such as investment tax credits and state sales tax exemptions) to companies that propose to make a substantial capital investment in operations and will create or retain a specified number of jobs.

Eligible Business Type: 
Office
Industrial
Eligible Business Size: 
100+ employees
Administrator: 
State of Illinois
Benefits: 

A qualifying High Impact Business (HIB) may receive a sales tax exemption on building materials, an investment tax credit and an exemption from various state taxes. Projects located in foreign trade zones may be eligible for additional incentives. Benefits are also available for eligible large-scale development activities in the coal and wind energy industries.

Eligibility: 

A project must include a minimum $12 million investment creating 500 full-time jobs or an investment of $30 million that retains 1500 full-time jobs. Projects cannot be located within an Empowerment Zone.

Source: 
State of Illinois Dept. of Commerce & Economic Opportunity

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Available incentive programs can be filtered by business size and type below. Or return to the full list of programs, amenities and other mappables ->

Credits: Thanks to the City of Chicago Data Portal for providing many of these map layers, and to Derek Eder for cleaning some of them up. Thanks to Rofo.com for providing the commercial real estate layers. If there are other properties you'd like to see listed you can add them through Rofo.

Disclaimer: The Site Selector app is for estimation purposes only. World Business Chicago makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information. Identified incentive programs are under the exclusive control and administration of the City, County and State respectively. All information is provided on an as-is basis. Please contact us for more information on the best place to locate your business.

This is an area-wide incentive program.

Amenities & Other Mappables
Listings courtesy of Rofo.com are a snapshot of properties available. Please contact us for a full consultation.
Listings courtesy of Rofo.com are a snapshot of properties available. Please contact us for a full consultation.
Areas zoned for commercial and industrial use
Zoned to limit residential development in manufacturing areas in order to maintain real estate prices
Uses tax levies to assist organizations & businesses within designated areas with projects including maintenance, beautification, marketing, advertising, security.
Theaters and performing arts centers
Roads with cycle lanes and other bicycle-friendly paths
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Information based on City of Chicago reports. For inquiries please contact Robert Wolf, City of Chicago, 312-744-LAND, robert.wolf@cityofchicago.org.
Public and private
For detailed information visit TransitChicago.com
For detailed information visit TransitChicago.com
For detailed information visit MetraRail.com
For detailed information visit MetraRail.com
Public and private
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