Could Boone/Winnebago be 2% higher than state % for a year?
The proposed law is the brainchild of State Rep. Bill Mitchell, who calls Macon County home.
"Since the 80s we've had higher unemployment than the state of Illinois, higher unemployment than the national average," Mitchell said. "The labor force has contracted in the last five years by 3,000 people."
Mitchell's bill proposes two tax incentives for employers in high unemployment counties to help change that.
"A portion of your workman's compensation costs would be subsidized by the state as well as the EDGE tax credit," Mitchell said.
That's Economic Development for a Growing Economy tax credit. Businesses that hire at least five new workers would be reimbursed a portion of their state income taxes. That's if the business is based in an area that's determined to be struggling.
"There's about 10 counties that this would be applicable to. And it's an arbitrary measure I used, it's just two percentage points over the statewide average for a year," Mitchell said.
Read the entire story by clicking on the following: WICS NewsChannel 20 :: News - Top Stories - New Bill Would Help High Unemployment Counties
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