(AAPNW-IL) – The 24th Annual Entrepreneurial Woman’s Conference is the oldest conference of its kind in the country and the premier event for women business owners in the Midwest, drawing attendees from around the country to the Chicago area for development workshops and networking opportunities. “Our continued economic recovery is dependent on small businesses creating good-paying, long-lasting jobs,” said Illinois Governor Pat Quinn. “That’s why Illinois worked with organizations like the Women’s Business Development Center (WBDC) to pass the Illinois Small Business Job Creation Tax Credit to boost hiring and promote the growth of Illinois small businesses.”
The Small Business Job Creation Tax Credit encourages businesses with 50 or fewer employees to apply for a $2,500 tax credit for each new full-time position created. In addition this summer, he signed legislation creating the Angel Investment Tax Credit to encourage investments in innovative Illinois businesses that are working to get off the ground. He also signed legislation doubling the cap on Illinois’ existing New Markets Tax Credit program, from $10 million to $20 million. The program provides tax credits for new investment into small businesses in low-income communities. The increased cap could generate $125 million in private investment.
The Women’s Business Development Center is one of 38 statewide Small Business Development Centers that are a part of the Illinois Entrepreneurship Network. Over the years, WBDC has assisted more than 55,000 women in the Chicago area and helped establish 14 other additional women’s business assistance centers in six states. In addition, WBDC operates a Procurement Technical Assistance Center (PTAC) that has helped over 1,400 clients win contracts worth more than $260 million in business from the state of Illinois.