Rust Belt Revival: Leveraging incentives to win jobs and investment

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We can all agree that 2017 was a year of transition, as governments, corporations and individuals all adjusted to the new presidential administration. Prioritizing job creation, some states tweaked or introduced new tax incentive legislation last year, beginning close to home with the updated Economic Development for a Growing Economy (EDGE) Tax Credit Program in Illinois.

The new EDGE, signed into law in September 2017, focuses on both job creation and retention, corporate expansion in underserved areas and increased transparency and accountability on both sides of the agreement. In Michigan, the state’s new Good Jobs for Michigan incentive program offers employers with eligible projects the opportunity to retain all or a portion of employee withholding taxes for a set period of time.

While the impacts of this new legislation remain to be seen, the Midwest as a whole continues to host a growing number of industrial, manufacturing and distribution employers. These industries have led the pack in terms of recent incentives awarded, which you can explore on the interactive map above. Between these incentives wins and the recent reshoring trend, all evidence is pointing toward a Rust Belt revival.

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