SPRINGFIELD – State Senator Michael E. Hastings (D-Frankfort) joined his colleagues in passing the Reimagining Electric Vehicles in Illinois Act, a historic measure to preserve and create jobs in Illinois and incentivize electric vehicle manufacturers to create more jobs in the state.
Hastings helped champion House Bill 1769, which would provide a tax credit for manufacturers of electronic vehicles, parts, and power supplies. This new measure builds on Hastings’ work to make Illinois a leader in fighting climate change.
“This new measure sets up Illinois to tap into a new manufacturing industry,” Hastings said. “We are providing incentives to electric vehicle companies to set up shop in Illinois. These new good paying jobs will help grow our state’s economy and help us reduce global carbon emissions.”
Businesses in underserved areas would be eligible for a larger benefit. Underserved areas include communities with less than 100,000 population, retired fossil fuel plants, or closed mines.
The amount of training cost tax credits can increase if new employees are recent college grads, certificate holders or credential recipients from a college in Illinois.
Earlier this year, Lion Electric Company, a Canadian-based manufacturer of all-electric medium and heavy-duty urban vehicles, announced plans to build the company’s first-ever U.S. manufacturing facility in Joliet.
Hastings believes once this new measure is in place, the state will see further investments by electric vehicle manufacturers.
“I am proud to see Illinois’ step up to be a competitor and work diligently to encourage electric vehicle manufacturers to join the ranks of great employers and businesses in our state,” Hastings said. “Green transportation is the future. We have the opportunity to reshape the transportation sector in our state and nation – we all must work together to clear the way for climate progress and seize the opportunity to create good paying jobs for Illinois residents.”
Illinois currently ranks ninth in the nation for auto production, employing more than 30,000 people. An additional 36,000 work at auto parts makers in the state, according to the Illinois Manufacturing Association. The state is already home to more than 5,000 workers in the electronic transportation industry, and these numbers are expected to double in the next two years.
House Bill 1769 passed the House and Senate with bipartisan support and will soon head to the governor’s desk for final consideration.
November 1, 2021 at 06:35PM