High Impact Business (HIB)
Long-standing DCEO program for projects outside Enterprise Zone boundaries — analogous benefits structure (sales tax exemptions, utility exemptions, manufacturing M&E) for large-scale Illinois projects.
Check an Address — Free Snapshot
Compare the geocoded point for a Chicago address with the boundary used to screen High Impact Business (HIB). A match is a location signal; review the current program source for the boundary's role and remaining criteria.
Published criteria — confirm with Illinois DCEO
- ≥$12M investment + 500 new jobs OR $30M + 1,500 retained
High Impact Business (HIB) is administered at the state level. Depending on the program, eligibility may depend on the specific location, property type, or business activity rather than a single drawn boundary.
Boundaries are precise and change over time, so whether a specific address falls inside a mapped zone always depends on that exact address. The fastest way to check is to run a free snapshot for the parcel you have in mind — mapped coverage is a location signal, not an eligibility determination.
Range on file · Sales + utility + manufacturing M&E exemptions + investment tax credit
Current published terms as of 2026-08-09
- +Sales tax exemption on building materials (via BMEC)
- +Utility tax exemptions (telecom, electric, gas)
- +Manufacturing M&E sales tax exemption
- +Investment tax credit
- 1Contact Illinois DCEO with project concept
- 2Submit HIB application with investment and job creation plan
- 3Obtain certification BEFORE project commencement, including before purchasing any building materials
- 4Negotiate designation agreement
Email Ben.Denney@illinois.gov about HIB eligibility
- HIB application
- Capital investment plan
- Job creation/retention projections
- Financial statements
This page is a starting point, not eligibility, legal, or tax advice. Verify current requirements, deadlines, and boundaries with the administering agency before applying or spending money — program rules and funding change over time.
- Building Materials Exemption Certificate (BMEC) — Illinois Department of Revenue
- IDOR Business Incentives Reporting — Illinois Department of Revenue
Federal Opportunity Zone incentive: investors who reinvest capital gains through a Qualified Opportunity Fund into a designated zone receive tax reductions scaled to how long the investment is held. Illinois' current zones remain active for investment; a new round of IL-nominated zones takes effect January 1, 2027 under OZ 2.0.
Illinois Enterprise Zones offer state and local tax incentives to stimulate economic growth in economically depressed areas, including sales tax exemptions on building materials, utility tax exemptions, and investment tax credits.
The Economic Development for a Growing Economy (EDGE) program provides Illinois income tax credits against state withholding for businesses that create or retain jobs. Amended by HB2755 / P.A. 104-0006 (June 2025) to expand withholding-credit elections and require 10-day public posting of EDGE agreement terms.
REV Illinois (Reimagining Electric Vehicles in Illinois) provides project-by-project tax credits for businesses in the electric vehicle and renewable energy supply chain. Negotiated with DCEO across four investment/job tiers.