INCENTIVES

 

 

 

 

STATE INCENTIVES


Several programs are available through the State of Illinois’ Department of Commerce & Economic Opportunity.  For an overview of state incentives, click here or visit www.illinoisbiz.biz

LOCAL INCENTIVES


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 more information click the links below:
Tax Rebate Application
EDPA Flyer

For additional information contact the GEDC. 

EDPA MAP #1

EDPA MAP #2

TIF DISTRICTS


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.

Coal City

Dwight

Gardner

Morris 1     Morris 2

Seneca

FINANCIAL RESOURCES


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 sbdc@jjc.edu 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:

Grundy Incentives

Tax Abatement Application