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
See whether a specific Chicago address sits inside the area that unlocks High Impact Business (HIB), alongside every other incentive that touches that parcel.
Illinois businesses investing at least $12M and creating 500 new jobs, OR investing $30M and retaining 1,500 jobs. Renewable energy / fuel cells / clean coal projects have alternative thresholds.
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 exact eligibility always depends on the specific address. The fastest way to know is to run a free snapshot for the parcel you have in mind.
Typical range · Sales + utility + manufacturing M&E exemptions + investment tax credit
- +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
- 3Negotiate designation agreement
Call DCEO at (217) 782-7500 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
- Phone
- (217) 782-7500
- Web
- Visit site ↗
Last verified 2026-05-21
Illinois supports federal Opportunity Zone investments through DCEO discretionary grants (Regional Site Readiness, OZ capital grants) and scoring preference for projects in designated zones. 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.