SPRINGFIELD — Governor JB Pritzker signed House Bill 5005 into law Wednesday, and State Senator Natalie Toro is looking forward to the benefits this measure will bring to the state, including job creation and investments in clean energy.

“I spent my ten years of teaching hearing about what my students dreamed would be their career one day. While my fellow teachers and I would do the best we could to prepare them to achieve those dreams, it was upsetting that there may not be enough jobs available for all of them to meet their goals,” said Toro (D-Chicago). “I am confident that this legislation will address these concerns and foster more job creation for our future generations.”

House Bill 5005 provides incentives for several programs supporting business development. To bolster these programs, the measure offers several tax exemptions and tax credits to encourage businesses to prioritize their investment in their communities through job creation. Additionally, the law provides tax incentives for quantum computing, an emergent industry under development by top Illinois universities. These allocations will create an incentivized enterprise zone to support quantum computing jobs and the industry as a whole in the coming years.

These incentives encourage businesses to invest and manufacture their goods with clean energy. House Bill 5005 offers incentives for green steel manufacturing and hybrid aircraft production — further advancing zero-carbon technologies in Illinois. As an advocate for green jobs and addressing climate change, Toro is especially hopeful for the impact of these incentives on the future of the state.

“Investing in clean energy industries is necessary to meet our state’s climate goals and ensure we are protecting it to the best of our ability moving forward,” said Toro. “I am glad that this law incentivizes this important, innovative industry, and will help bolster our economy while also protecting the environment.”

House Bill 5005 takes effect immediately.