The Illinois House on Thursday evening took a big step to attract new jobs to Illinois, and to help strengthen the supply chain Illinois manufacturers depend upon to make their products.
House Bill 1769, creates the Reimagining Electric Vehicles in Illinois (REV Illinois) Program. This program will provide incentives to attract new businesses to Illinois that will supply our existing manufacturers with components they need for production.
The incentive plan targets companies who will supply our existing manufacturers. In return for credits, the new businesses must make a significant level of investment and create a specified number of new jobs in Illinois. Partnering new businesses with existing suppliers that use their product is also important to making Illinois more competitive, especially in emerging fields.
Electric vehicles are a fast-growing presence on America’s roads and highways. Led by Normal, Illinois-based Rivian, Illinois workers are starting to assemble electric-powered vehicles and to manufacture the parts and electric drives that will go into them. Central Illinois’ Rivian, which now employs an estimated 3,300 Illinois workers, is specializing in the manufacturing of electric vehicles such as pickup trucks and vans. A separate firm, Canada-based Lion Electric, has announced plans to build a factory in Joliet, Illinois to assembly electric-powered school buses.