Douglas County Incentives

 

Douglas County High Impact Business

Type: Tax Abatement

Administrator: Douglas County

Program Description:

Douglas County has prior experience with the High Impact Business provisions under the Enterprise Zone Act - particular types of businesses qualify for this designation under a state program. TEDI provides assistance in identifying the applicability of the program to various businesses.

 

Tuscola Tax Increment Financing

Type: Grants, Loans, Interest Subsidies

Administrator: City of Tuscola

Program Description:

The Tuscola TIF District serves as the local incentive package, which may be offered to promote economic development. Incentives include sales tax rebates, property tax rebates, land acquisition, infrastructure improvements, and low interest loans for personal property improvements. The TIF District incentives have been effective at spurring new retail development and improving the physical condition of the building located within the TIF District. The City will evaluate each project on an individual basis in order to determine the appropriate level of incentives. An application process is part of the TIF process. TEDI serves as an advocate for TIF applicants and provides assistance throughout the application process.

 

 

Douglas County Economic Development Contact:

Brian Moody

Executive Director

Tuscola Economic Development, Inc.

City Hall

P.O. Box 145

Tuscola, IL 61953

(217) 253-2552

brian.moody@tuscola.org