Every Illinois business, no matter the size of the business or the sector they operate in, knows that their most valuable asset is their workforce. Without a strong talent pipeline and investments in human capital, the growth and sustainability of individual businesses cannot be fully realized, to the detriment of a strong business climate. One of the most essential tools to attract and retain workers in the State of Illinois today is access to robust and affordable housing.
That is why this year, the Illinois Chamber of Commerce was excited to support an innovative initiative of the Illinois Housing Council called the “Build Illinois Homes Tax Credit Act,” which would create a vital tool to building new and affordable homes in Illinois. Led by the House and Senate champions, Representative Dagmara Avelar and Senator Robert Peters, SB 62 /HB 1147 is model legislation that has led to real results in more than 25 other states. Illinois would undoubtedly be greatly served by adopting this housing solution and economic development tool.
Our President and CEO, Lou Sandoval, along with our business coalition partners the Illinois Manufacturers’ Association and the Chicagoland Chamber of Commerce, put out an editorial in the Chicago Crains that makes the case for enacting this essential piece of legislation that will undoubtedly make sure that Illinois remains competitive and promotes a pro-growth agenda. Working with a broad coalition of bipartisan legislators from across the State, and a wide array of housing advocates and stakeholders, we urge legislators to enact this much-needed legislation.
A leader of the business community and Board Chair of the Illinois Chamber, Dan Wagner, Senior VP of Government Relations at The Inland Real Estate Group, LLC, said of the legislative measure, “One of the most important factors that employers consider today when evaluating where their future investments will be made, both from a workforce and financial perspective, is housing availability, especially, affordable housing access. In a time when there is near-daily competition across the country for jobs and job-creation, enacting forward-thinking economic development tools, such as the Build Illinois Homes Tax Credit, will help make Illinois a leader in affordable housing and access by incentivizing future investment in a sector that is of vital importance to the State’s economy.”
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