Illinois Administrative Code › Title 14 - COMMERCE › Part 527 - ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY PROGRAM (EDGE) › Section 527.40 - Form of Application

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Applications will be accepted at any time during the year. The Department will
			 provide interested Applicants with an application package upon request.
			 Submittal of an application does not commit the Department to award assistance
			 or to pay any costs, including the application fee, incurred by the Applicant
			 in the preparation of an application.
b)
Any Taxpayer proposing a Project
			 located or planned to be located in Illinois may request
			 consideration
of its Project
, by application
to the Department, in which the Applicant states its intent to make at
			 least a specified level of investment,
if the Applicant has more than
			 100 employees,
and intends to hire or retain a specified number of
			 Full-time Employees at a designated location in Illinois
as set forth
			 in Section 5-20 of the Act. [
			 35 ILCS
			 10/5-20(a) ]
c) Written applications will be required and
			 must be submitted on the standard application form provided by the Department.
			 Applications shall be submitted to the Department office location identified on
			 the application. The application shall include:
1) Application Cover Page - containing name,
			 address, and telephone number of Applicant; key contact and title; total number
			 of new employees to be hired and, when applicable, the number of Full-time
			 Employees to be retained; company Federal Employer Identification Number
			 (F.E.I.N.); Standard Industrial Code (S.I.C.); if available, Illinois
			 Unemployment Insurance Account Code; State Senate District number; State
			 Representative District number; authorized signatures; and related
			 information.
2) Project Summary -
a detailed description of the Project that
is to be
the subject of the Agreement.
[
			 35 ILCS
			 10/5-50(l) ]
3) Site Map - an outline of the general
			 location of the Project on a site map, including the location of any flood
			 plain areas and wetland areas.
4)
			 Jobs Impact -
a detailed description of the number of New Employees to
			 be hired and the occupation and payroll of the full-time jobs to be
			 created
[ 35 ILCS
			 10/5-50(9) ] as a result of the
			 Project, and a schedule of anticipated starting dates of the new hires. In
			 addition, the Applicant must provide the total number of Full-time Employees
			 employed by the Applicant and any Related Member, subsidiary, parent, or sister
			 company in the State of Illinois at the time of the application. If the
			 Applicant seeks a Credit with respect to Retained Employees, the application
			 shall include, the occupation and payroll of the Full-time Employees to be
			 retained as a result of the Project.
5) Capital Improvements Planned - a detailed
			 description of
the investment the
Taxpayer
will make
			 in Capital Improvements, and the designated location in Illinois for the
			 investment.
[
			 35 ILCS
			 10/5-50(10) ] This shall include but
			 not be limited to a description (or specifications or lists) of the planned
			 Capital Improvements demonstrating the investment is qualified; documentation
			 to substantiate the value of the investment (value of Capital Improvements as
			 provided by appraisers, vendors, contractors and/or architects and engineers);
			 and a schedule regarding when the eligible investment will be placed in
			 service.
6) Total Project Costs - a
			 detailed description of total Project Cost as defined in Section
			 527.20.
7) Competitive Requirements of the Project -
			 evidence supplied by the Applicant demonstrating that,
if not for the
			 Credit, the Project would not occur in Illinois, which may be demonstrated by
			 evidence that receipt of the Credit is essential to the Applicant's decision to
			 create new jobs in the State, such as the magnitude of the cost differential
			 between Illinois and a competing state
. In the event that
the
			 Applicant is seeking an increase in the amount of the credit for Retained
			 Employees
,
the Applicant must
provide documentation:
A) evidencing that
the Applicant has
			 multi-state location options and could reasonably and efficiently locate
			 outside of the State.
An example of this evidence includes
			 documentation indicating firm interest in alternative non-Illinois locations,
			 such as a prospective offer or letter;
or
B) demonstrating
that at least one
			 other state is being considered for the Project,
for example,
			 disclosure of sites of out-of-state location options that would receive the
			 proposed investment and job creation in the event the business is not
			 designated, which may include documentation such as incentive letters or
			 prospective offers from other states. [
			 35 ILCS
			 10/5-25 ]
8) Cost Differential - documentation of a
			 cost differential of alternative out-of-state sites, such as written
			 information on non-Illinois sites under consideration, comparison of industry
			 costs in other states, cost/benefit analyses of moving or closing the business,
			 financial statements, internal memoranda, or any other financial documentation
			 evidencing cost differential.
9)
			 Financial Statement - a balance sheet and a profit and loss statement of the
			 Taxpayer for the last two years.
10) Other Provisions - any other provisions
			 or information the Department determines is necessary to facilitate the
			 Department's evaluation of the application.