Illinois Home Grown Business Opportunity Act.

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  2. Illinois Compiled Statutes
  3. EXECUTIVE BRANCH
  4. Illinois Home Grown Business Opportunity Act.

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(20 ILCS 725/1)

Sec. 1. Short title. This Act may be cited as the Illinois Home Grown Business Opportunity Act.

(Source: P.A. 100-1084, eff. 1-1-19.)

 

(20 ILCS 725/5)

Sec. 5. Purpose. The purpose of this Act is to establish resources for businesses and municipalities located geographically close to bordering states, so that those businesses and municipalities can identify existing State services and resources to help them be more competitive with bordering states.

(Source: P.A. 100-1084, eff. 1-1-19.)

 

(20 ILCS 725/10)

Sec. 10. Definitions. As used in this Act:

"Bordering states" means the states that border the State of Illinois, specifically Wisconsin, Iowa, Missouri, Kentucky, and Indiana.

"Department" means the Department of Commerce and Economic Opportunity.

"Economic development practices" means practices relating to job creation, job retention, tax base enhancements, development of human capital, workforce productivity, critical infrastructure, regional competitiveness, social inclusion, standard of living, environmental sustainability, energy independence, quality of life, the effective use of financial incentives, the utilization of public-private partnerships where appropriate, and other metrics determined by the Department.

"Plan" means the economic plan developed by the Department to assist businesses and municipalities located geographically close to bordering states.

(Source: P.A. 100-1084, eff. 1-1-19.)

 

(20 ILCS 725/15)

Sec. 15. Illinois Home Grown Business Opportunities.

(a) The Department of Commerce and Economic Opportunity shall develop an economic plan to assist businesses and municipalities located geographically close to bordering states.

(b) The plan shall take into account relevant economic data, including input from local economic development officials, and identify and develop specific strategies for utilizing the assets of those regions of the State located geographically close to bordering states, so that those regions may better compete economically with bordering states.

(c) The plan shall include the following:

  • (1) an assessment of the economic development practices of bordering states;
  • (2) a comparative assessment of the economic development practices of this State;
  • (3) recommendations for best practices with respect to economic development, business incentives, business attraction, and business retention for regions in Illinois that border at least one other state;
  • (4) identification of existing State services and resources that would assist businesses and municipalities in being more economically competitive with bordering states; and
  • (5) any other resource that may assist businesses and municipalities located geographically close to bordering states that the Department deems necessary and relevant under this Act.

(d) The information and resources collected and established by the Department under this Act shall be available to the public and posted on the Department's Internet website.

(Source: P.A. 100-1084, eff. 1-1-19.)


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