Wednesday, May 5, 2010

Small Business Tax News and Training Opportunities

The Illinois legislature recently passed and signed into law the Small Business Job Creation Tax Credit. This tax credit applies to businesses that employ 50 or less full-time employees as of June 30, 2010. If your business meets that qualification and creates a new, full-time position after July 1, 2010, which pays at least $25,000 annually, you business can receive a $2500 tax credit against withholding taxes beginning July 1, 2011. The credit is available on a first-come, first-serve basis through an online application that will launch July 1. Please follow this link for more information.

Also, the Illinois Department of Employment Security is offering workshops throughout the state in June, and August regarding Unemployment Insurance and the Work Opportunity Tax Credit. Please take advantage of these workshops if they apply to you.

Tuesday, May 4, 2010

Welcome and Cullom Community Market Opening

We would like to welcome all the new subscribers to our blog. We hope the information presented to you will be helpful and allow you to remain updated on activities involving the GLCEDC.

Members of the GLCEDC staff and executive committee recently joined the Village of Cullom to celebrate the grand opening of the Cullom Community Market. A large group of Cullom residents worked together for 2 years to open a grocery store in their small town. They formed a legal corporation, sold shares in the market, purchased a building, and spent many hours volunteering to get the building in shape for opening day.

The Cullom Community Market is a great example of the determination of small town residents and the GLCEDC is proud to assist in the purchase of the Cullom Community Market building. Through the GLCEDC Community Development Infrastructure Grant (CDIG) program, the GLCEDC contributed roughly $13,000 to the project. By supporting this project, and others like it, we are able to promote and provide meaningful economic development to the residents of rural Livingston county. Congratulations to the residents of Cullom for all their success!

The picture includes: Bill Fairfield, County Board Chairman, Vicki Allen, County Board Member, Marge Kross, Village of Cullom President, Larry Vaupel, GLCEDC CEO, Mike Stoecklin, GLCEDC Executive Committee Chairman

For more information on GLCEDC grants please visit the GLCEDC website.

*Picture provided by The Paper