The Illinois Department of Commerce announced today that it has received eighteen (18) applications for the second round of Enterprise Zone designations. Applications will be reviewed by the Department and then evaluated for selection by the state’s Enterprise Zone Board.
Enterprise Zones encourage job growth and investment in economically depressed areas. Companies within a zone, or that agree to move into one, can qualify for tax incentives that include sales tax exemptions on purchases of building materials and manufacturing equipment and an exemption for utility taxes. Each zone is administered by a local official under rules set by the state.
Illinois law provides that twelve (12) zones may be designated this year. The Department certified 49 zones to take effect on January 1, 2016.
Once designated, a community may remain an Enterprise Zone for fifteen (15) years, with a review by the Enterprise Zone Board after thirteen (13) years for a possible ten (10) year extension of the zone designation.
Current Applications for Enterprise Zones (in alphabetical order):
3. Bureau Putnam Area
4. Calumet Region
5. Chicago VI
6. Flora/Clay County
7. Greater Centralia Area
8. Greenville/Bond County
9. Illinois Valley
10. Jersey/Greene Intermodal
12. Lincoln/Logan County
13. Livingston County
14. Marshall County
16. Peoria Royal County
18. Village of Hoffman Estates/Huntington 90
For more information on Illinois’ Enterprise Zone Program, and for more resources about doing business in Illinois, visit www.illinois.gov/dceo.