Employers Hiring Put Illinois to Work Trainees can Register for $2,500 Tax Credit on JobsTaxCredit.Illinois.gov
CHICAGO – March 2, 2011. Governor Pat Quinn today announced that employers who hire Put Illinois to Work trainees can now log onto an easy-to-use website to qualify for a $2,500 tax credit. Employers can now log onto JobsTaxCredit.illinois.gov to learn more about the credit and register any eligible positions. To be eligible for the credit, employers must hire workers trained through Put Illinois to Work into permanent positions before June 30, 2011.
“Long-term economic stability means making sure that people receive the training they need to compete in the job market. Put Illinois to Work helped thousands of people learn on-the-job skills, and now we are helping them continue using these skills,” said Governor Quinn. “This tax credit gives employers the tools they need to keep these people working.”
Put Illinois to Work has been nationally recognized for its success in providing more than 28,000 worker-trainees with job skills and a hands-on experience they would have not otherwise received.
Governor Quinn created the Illinois Small Business Job Creation Tax Credit last year to help jumpstart job creation in the wake of the national recession. Earlier this year, Governor Quinn led passage of and signed legislation to expand the $2,500 credit to include employers who hire Put Illinois to Work trainees into permanent positions.
Under the law, any employer of any size that hires a former worker-trainee from the program is now eligible for the Illinois Small Business Job Creation Tax Credit, which is administered by the Department of Commerce and Economic Opportunity (DCEO). The $2,500 credit was initially available only to small businesses that had 50 or fewer full-time employees (including all locations) as of June 30, 2010.
“These changes mean more businesses can benefit by hiring Illinois workers now,” said DCEO Director Warren Ribley. “This law helps encourage job creation and growth as we continue our economic recovery.”
Employers are now able to register new positions using the expanded criteria online at JobsTaxCredit.illinois.gov. After hiring trainees, companies can use the Web site to enter substantiating data, including their federal tax identification number, or FEIN.
Employers hiring a former participant in the Put Illinois to Work program can claim half of the tax credit six months after the date of hire, and the last half of the tax credit 12 months after the date of hire. The new law requires that the employees receive no less than $10 hourly, with a minimum salary of $18,200 annually. For more information, businesses should call 1-800-252-2923 or visit the website. The total amount of credits issued is capped at $50 million.