Enterprise Zone
Enterprise Zone
Contact: Christine Daniels
Montgomery County Enterprise Zone Administrator
217-532-9577
Enterprise Zone Property Tax Abatement
Full three-year abatement of real estate taxes on improvements to the property based on a project cost of less than $2 million, and a five-year abatement of real estate taxes on improvements to the property based on a project cost over $2 million to $4 million.
Maps coming soon.
Enterprise application: CLICK HERE
EXECUTIVE BRANCH
(20 ILCS 655/) Illinois Enterprise Zone Act. CLICK HERE
Enterprise Zone Sales Tax Abatement:
Sales Tax exemption is permitted on building materials to be used in an Enterprise Zone. Materials must be permanently affixed to the property and must be purchased from a qualified retail supplier.
To learn more on DCEO (IL Dept of Commerce and Economic Opportunity) rules and regulations for this program
CLICK HERE and scroll to page two.
Participation Loan:
State of Illinois loans an amount up to $750,000 but not more than 25% of the total project cost. Rate will be 200 basis points below Wall Street Journal Prime rate, but in no event shall the Illinois Dept. of Commerce and Economic Opportunity's rate be lower than 3 percent.
Learn more at:
https://www2.illinois.gov/dceo/smallbizassistance/advantageillinois/pages/default.aspx
Job Tax Credit:
Tax credit on Illinois income taxes of $500 per eligible employee hired.
For more information, lease visit the link below:
https://jobstaxcredit.illinois.gov/ProgramDetails.aspx
Investment Tax Credit:
Credit against Illinois state income tax of 0.5% for investment in qualified property. This is in addition to the regular 0.5% investment tax credit.
For more information, please visit the link below to the Form - IL477:
http://www.revenue.state.il.us/TaxForms/IncmCurrentYear/Business/Miscellaneous/IL-477-Instr.pdf