Economic Development Project Area (EDPA)
Offering a competitive advantage in the State of Illinois and Chicagoland market, the EDPA zones in Grundy County provide a mechanism for significant tax relief for new industrial investors and existing businesses looking to reinvest in current facilities. Here is how the EDPA can work for you:
- Allows a company to negotiate its tax bill with the County of Grundy by reimbursing eligible costs
- All ordinances and approvals in place
- EDPA 1 – 12,000 acre zone with assessment levels frozen at 2006 values
- EDPA 2 – 2,000 acre zone with assessment levels frozen at 2012 values
For additional information contact the GEDC.
EDPA MAP #1
EDPA MAP #2
TIF Districts Located in Grundy County
Several municipalities in Grundy County have established TIF districts to encourage industrial and commercial development. Learn more about the zones and their benefits below.
Financial – The Upper Illinois River Valley Development Authority is a general development agency serving the Counties of Bureau, Grundy, Kane, Kendall, LaSalle, Marshall, McHenry and Putnam. UIRVDA can issue bonds that can finance capital improvements and can reduce the rate of interest. For more information visit: www.uirvda.com
SBA Info – Training, consulting and counseling for small business owners is available through the Illinois Small Business Development Center at Joliet Junior College. Contact their office at 815-280-1400 or firstname.lastname@example.org for more information or visit their website.
Tax Abatement Program
Grundy County offers a pre-negotiated, three-year property tax abatement to qualifying companies. Eligible companies with qualifying projects can receive an abatement of:
- 75% during the first fully assessed tax year
- 50% the second year
- 25% the third year
Grundy County also offers four and five-year property tax abatements at 50% each year to qualifying high impact companies.
For more information, click the links below: