Ingenuity, Powered by Grantuity.
Mon - Fri : 9:00 AM - 5:00 PM
contact@grantuity.org
Illinois
Tax Credit
Rolling
Reimagining Energy and Vehicles (REV) Illinois
Illinois Department of Commerce and Economic Opportunity (DCEO)
Funding Amount
Credits: 75–100% of new-hire withholding, 75–100% retained-job withholding, 10–25% qualified training, 50–75% construction payroll withholding, plus 0.5% income tax credit on qualified investment. Utility excise tax exemption 20–30 years; building material sales tax exemption 5 years.
Payroll withholding / income tax credit package, competitive
Eligibility
Manufacturing businesses expanding in or relocating to Illinois in electric/hybrid vehicles and components, renewable energy products, eVTOL aircraft, battery recycling/reuse, green steel, electrical transformers, or battery raw materials refining. Tier 1: $2.5M investment, 50 jobs (or 10% of statewide baseline) within 4 years. Tier 2 (EV manufacturer): $1.5B investment, 500 jobs within 5 years. Tier 2 (components/renewables): $300M investment, 150 jobs. Tier 2 (converting manufacturer): $100M investment, 50 new jobs.
Source & Verification
Source 1: https://dceo.illinois.gov/businesshelp/rev.html (accessed 2026-08-01)
Not sure if this fits your business?
Talk to an advisor
Phone
+1 (888) 984-9014
contact@grantuity.org
Ingenuity, Powered by Grantuity.