Pritzker signs tax incentive bill for electric vehicle manufacturers into law

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ROCKFORD, Ill. (WMBD) — Illinois Gov. J.B. Pritzker on Tuesday signed legislation into law that he said will turn the state into an electric vehicle manufacturing powerhouse.

“Illinois is open for business and on track to be the best place in the nation to manufacture and drive an electric vehicle,” said Pritzker.

The bipartisan Reimagining Electric Vehicles in Illinois Act, or the REV Act, offers incentives like tax credits and exemptions for electric vehicle manufacturers to move or expand in Illinois. It also incentivizes employers to build facilities in underserved communities and prioritizes equity through vendor diversity reporting, diverse hiring plans, and workforce diversity reporting.

“With this new focus on electric vehicles, our state can also become leader in clean energy transportation revolution. Electric school buses, electric municipal buses, electric delivery trucks, electric 18-wheelers, and so much more,” he said.

Pritzker said the REV Act builds on the previously passed Climate and Equitable Jobs Act to transform Illinois into an electric vehicle hub.

“With this bill, we intend to attract more electric vehicle manufacturers, charging station manufacturers, and automotive parts manufacturers more than ever before. It will help Illinois become one of the leading electric vehicle hubs in the entire nation,” he said.

Pritzker said there doesn’t need to be trade off between a cleaner environment and good jobs.

“It’s no secret that transportation is the leading source of climate pollution – so we’re incentivizing green economic development. It’s good for business – and it’s the right thing to do,” he said.

Pritzker said Illinois is also set to receive $149 million from the Infrastructure Investment and Jobs Act signed into law on Monday, and will be eligible to receive another $2.5 billion in grants.

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