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The state wants Gurnee to be known for computer chips as well as roller coasters and outlet stores: It's offering $3.5 million in incentives to lure a Hoffmann Estates-based semiconductor company to move its headquarters to Gurnee instead of another state.

Akhan Semiconductor says it will nearly triple its headcount to 80 employees in the next two years — mostly in research and technogy — and invest $15 million.

If it reaches those goals, the company will get $3 million in credits over 10 years to offset Illinois income taxes. Akhan also will get $500,000 for relocation costs and $40,000 on job training assistance.

Ken Notes: I have been an advocate for job incentives based on tax credits for new jobs and training credits for several years. It seems to be working in Illinois. Specifically for apprenticeship it seems to make sense to invest with the company in the education and skill set needed to create a lifelong taxpayer, what am I missing??

Read More At: http://www.chicagobusiness.com/article/20140917/BLOGS11/140919854



- - Volume: 2 - WEEK: 39 Date: 9/23/2014 9:29:39 AM -