The Chicago City Council voted unanimously to create a transit tax-increment financing (TIF) district — expected to generate at least $851 million — in an effort to secure $1.1 billion in matching federal funds for a $2 billion Red Line rail upgrade and modernization program.

The Chicago Metropolitan Agency for Planning' business report found out-of-state business relocations are relatively rare and typically involve smaller companies. More than 70 percent of the businesses that moved in or out of Chicago metro had fewer than five employees.

The bill keeps intact the long-awaited fix to the state's Renewable Portfolio Standard as well as a subsidy for Exelon's two financially troubled nuclear plants, which is expected to cost ratepayers up to $235 million a year.

The bill will extend the River Edge Historic Preservation Tax Credit an additional year. The tax credit was used to garner incentive for such projects as the $12 million renovation at the Prairie Street Brewhouse, which created 110 construction jobs.

The Illinois Supreme Court will decide the fate of Northern Illinois' largest clean energy infrastructure project. The Rock Island Clean Line (RICL) would bring low-cost clean energy, hundreds of high quality jobs, and revenue for local communities to the state.

Tyson Foods, Inc. has introduced a $150 million venture capital fund called Tyson New Ventures L.L.C. The fund will focus on three areas in food and agriculture, including alternative proteins, food waste and food insecurity, and the "internet of food" to promote resource application throughout the food chain, according to the company.

U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Lillian Salerno today announced three new public-private partnerships that will create economic opportunities in Elgin, Texas; Fresno, Calif.; and Chicago. The Food LINC partnerships will help community leaders and private philanthropic partners develop regional food supply chains that drive job growth and increase farm income while helping to meet consumer demand for regionally produced food.

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