Illinois Compiled Statutes 20 ILCS 725/15 – Illinois Home Grown Business Opportunities
Current as of: 2024 | Check for updates
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(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
(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.
Terms Used In Illinois Compiled Statutes 20 ILCS 725/15
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(c) The plan shall include the following:
(1) an assessment of the economic development
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practices of bordering states;
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(2) a comparative assessment of the economic
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development practices of this State;
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(3) recommendations for best practices with respect
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to economic development, business incentives, business attraction, and business retention for regions in Illinois that border at least one other state;
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(4) identification of existing State services and
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resources that would assist businesses and municipalities in being more economically competitive with bordering states;
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(5) any other resource that may assist businesses
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and municipalities located geographically close to bordering states that the Department deems necessary and relevant under this Act;
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(6) notification to all small businesses and
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municipalities of funding opportunities that the State of Illinois and the federal government are offering to small businesses and municipalities; and
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(7) notification to all small businesses and
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municipalities of new restrictions placed upon communities as it relates to the COVID-19 public health emergency.
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(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.