Illinois considers entrepreneur ‘learner’s permit’

By Monica Stabile Legislation to provide financial incentives for first-time business owners was approved Wednesday by the Illinois Senate. Dubbed the “Entrepreneur Learner’s Permit,” the pilot program hopes to boost small business growth by reimbursing some licensing and permit costs to first-time business owners. Entrepreneurs who qualify for the program include new information services, biotechnology and [...]

By |April 26th, 2017|Categories: Business News, Government, News|0 Comments

Legalized recreational marijuana could boost state revenue

By Monica Stabile  State lawmakers are exploring the possibility of a budding industry to create an additional revenue source for Illinois by legalizing recreational marijuana.  Chicago Democrats Sen. Heather Steans and Rep. Kelly Cassidy have proposed a measure that would allow adults aged 21 and older to possess, grow and purchase marijuana as long as [...]

By |April 26th, 2017|Categories: Business News, Government, News|0 Comments

Bill would claw back tax breaks for businesses leaving Illinois

By Monica Stabile  Illinois House Democrats passed legislation on Monday that would require businesses which move all or part of their operations out-of-state to repay money from tax breaks.  The Keep Illinois Business Act would preserve taxpayer’s money by preventing companies from "abusing" Illinois tax incentives and hurting economic development, said Rep. Michael Halpin, the [...]

By |April 26th, 2017|Categories: Business News, Government, News|0 Comments

City hopes to use TIF for home rehab, first responder grants in Enos Park

The City of Springfield wants to establish a pair of programs in Enos Park using TIF funds for exterior home rehabilitation and grants to police and firemen who choose live in the neighborhood. The Enos Park Exterior Rehabilitation Program would provide up to $15,000 to owner-occupied properties in the TIF district covering the Enos Park [...]

By |April 12th, 2017|Categories: Government, News, Uncategorized|0 Comments

Developer seeks TIF approval to buy former surveying museum downtown

A Springfield developer is hoping to buy the downtown building that formerly housed the National Museum of Surveying, using $120,000 in TIF funds. Chris Nickell's 521 East LLC seeks to access TIF money for the purchase of 521 E. Washington St. The City of Springfield sought to buy the building with $425,000 in TIF funds [...]

MJ’s Fish and Chicken planning move to Enos Park with TIF help

Jerome Taylor addresses the Economic Development Commission on April 11. By Patrick Yeagle A popular Springfield eatery is hoping to establish a more permanent home with help from TIF funds. MJ's Fish and Chicken Express is seeking $55,000 in TIF money to relocate to Enos Park. The money would fund half of the [...]

Ryan budget threatens federal tax credit for historic preservation

By Monica Stabile In 1981, President Ronald Reagan signed the Historic Rehabilitation Tax Credit into law as part of the Economic Recovery Act. Since then, the credits have been used to repurpose more than 40,000 historic buildings across the nation, including 253 such buildings in Illinois and several in Springfield. “Our historic tax credits have [...]

By |April 12th, 2017|Categories: Government, News, Uncategorized|0 Comments

More than half of business travelers used Springfield airport last year, Chamber survey says

By Patrick Yeagle A survey of business travelers in Springfield shows more than half used the Abraham Lincoln Capital Airport last year. Commissioned by the Greater Springfield Chamber of Commerce, the survey found that nearly 77 percent rated their experience at the Springfield airport better than average. The results come after the airport reported that [...]

Senate Republicans offer budget plan without new revenue

By Monica Stabile Illinois Republican senators called for an immediate state government spending cap and a 10 percent spending cut to all government agencies in a new state budget plan unveiled Tuesday. The plan comes after Republicans scuttled a “grand bargain” budget plan last month, to the frustration of Democrats in the chamber and Senate [...]

Charter schools could see expansion

By Monica Stabile A comparison of standardized testing results by the Springfield Business Journal shows traditional public schools outperformed charter schools on average in the 2014-2015 school year. Meanwhile, charter schools and school choice programs nationwide may see a boost in funding if President Donald Trump’s budget is approved by Congress. The push to expand [...]

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