Wed. May 29th, 2024

TLDR:

The Illinois Manufacturers’ Association (IMA) has announced its 2024 legislative agenda, which focuses on workforce development, technology advancement, and clean energy goals. The IMA is advocating for policies that make it easier for manufacturers to hire and retain qualified workers, as well as encouraging businesses to invest in new technologies. The agenda includes proposals for a student loan employer tax credit, a manufacturing promise scholarship program, a manufacturer childcare incentive pilot program, changes to high school graduation requirements, and the modernization of the research and development tax credit. The IMA is also calling for regulations and incentives for carbon capture and sequestration (CCS) to help the state reach its clean energy goals.

Key Points:

  • The Illinois Manufacturers’ Association (IMA) has unveiled its 2024 legislative agenda, which focuses on three main areas: workforce development, technology advancement, and clean energy goals.
  • The IMA is calling for policies that make it easier for manufacturers to hire and retain qualified workers, as well as encouraging businesses to invest in new technologies.
  • One proposal is the student loan employer tax credit, which would provide a tax credit to employers who assist with the payment of employees’ student loan debt. This initiative aims to ease student debt while attracting employees to manufacturing jobs.
  • Another proposal is the manufacturing promise scholarship program, which would provide high school students with free community college education if they are enrolled in a manufacturing pathway. This program would require a minimum 20% participation from underrepresented groups.
  • The IMA is also advocating for the establishment of a manufacturer childcare incentive pilot program, which would allow manufacturers to open on-site, employee-only childcare centers at no cost to their employees. The program would also provide grant dollars and incentives to employers who open childcare centers in designated childcare deserts.
  • Additionally, the IMA is pushing for changes to high school graduation requirements to allow for two years of Career and Technical Education (CTE) courses in place of the two-year foreign language requirement. This would provide students with critical education that aligns with the needs of the manufacturing industry.
  • The IMA is also seeking to modernize the research and development tax credit to match changes at the federal level and make the credit permanent. Research and development activities are crucial for manufacturers, and the IMA believes that updating the credit will support innovation and growth in the industry.
  • Finally, the IMA is advocating for regulations and incentives for carbon capture and sequestration (CCS) to help Illinois reach its clean energy goals. The IMA sees CCS as an opportunity for the state to become a leader in clean energy while also growing the economy.

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