Coles County Incentives
Coles County Enterprise Zone
Type: Tax Abatement
Administrator: Coles Together
Program Description:
Enterprise Zone offers property tax abatement and sales tax exemption for an existing or recruited company that is making capital investmentand creating or retaining jobs. The property tax abatement is only applicable to the taxes on the improved value of sites. Sales tax exemption available for building materials only. Designed to encourage investment and job creation within the boundaries of the Enterprise Zone. |
Charleston and Mattoon Community Reinvestment Areas
Type: Tax Increment Financing Districts
Administrator: City of Mattoon and City of Charleston
Program Description:
TIF is designed to encourage development in declining and blighted areas through increment financing where the assessed valuation of real estate is frozen and the base amount continues to be disbursed normally. However, the growth in property tax revenues generated by the TIF is diverted to a special "tax allocation fund" to pay for eligible project costs. |
Charleston and Mattoon Revolving Loan Funds
Type: Low Interest Loans
Administrator: City of Mattoon and City of Charleston
Program Description:
Each municipality operates a Revolving Loan Fund and makes low-interest loans available to projects that involve capital investment and job creation or retention. |
Coles County Economic Development Contact:
Angela Griffin
President
Coles Together
400 Airport Road
Mattoon, IL 61938
(217) 348-5627