SPRINGFIELD – The Illinois Manufacturers’ Association (IMA) has issued the following statement regarding Gov. J.B. Pritzker’s signing of SB 1591, which extends the life of the state’s tax credit for research and development as well as establishes a new apprenticeship credit for businesses to invest in Illinois’ workforce:
“Research and development is the lifeblood of innovative manufacturers and today’s action by Governor Pritzker sends a strong message that Illinois wants their investment in our state. Sustained economic growth depends on innovation and technology derived from research and development,” said Mark Denzler, president & CEO of the Illinois Manufacturers’ Association. “Manufacturers are creating and improving products that feed the world, save lives, power our homes and businesses, transport people and products, and provide for our nation’s defense. We thank the Governor for his support of the manufacturing sector and further applaud his commitment to workforce development. With 300,000 men and women set to retire from shop floors in the next decade, this new apprenticeship credit will allow manufacturers to jumpstart their efforts to build a pipeline of workers to fill the next generation of manufacturing jobs.”
About the Illinois Manufacturers’
The Illinois Manufacturers’ Association is the only statewide association dedicated exclusively to advocating, promoting and strengthening the manufacturing sector in Illinois. The IMA is the oldest and largest state manufacturing trade association in the United States, representing nearly 4,000 companies and facilities.
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