From the Illinois State Senate
State Senator Michael Frerichs, 52nd Legislative District
FOR IMMEDIATE RELEASE: Thursday, May 31, 2012
Frerichs’ enterprise zone extension measure heads to governor
SPRINGFIELD, IL- The General Assembly today voted to extend enterprise zones that were set to begin expiring in 2013. The measure, Senate Bill 3616, now moves to Governor Quinn for his approval. State Senator Michael Frerichs (D – Champaign) led the effort as Co-Chair of the bipartisan Senate Special Committee on Enterprise Zone Extensions that held four statewide public hearings.
The Enterprise Zone Program is one of the state’s most proven and successful economic development tools. Through Senate Bill 3616, the 97 current enterprise zones in Illinois will be extended for another 25 years, and an additional five new zones will be created in the next two decades as the current River’s Edge Zones expire and those areas become enterprise zones. Senator Frerichs released the following statement:
“I am very happy that the legislature was able to agree on the necessity to extend enterprise zones in Illinois for another 25 years. Job creation and sustainability is vital to building our economy, and business have stated repeatedly that this is a program that works to grow and expand businesses in our state. Not only did we vote to continue the current 97 enterprise zones, but we are able to create five new zones because the program is so successful. I want to thank all who worked on this effort and look forward to the continued success of the enterprise zone program.”