Taxes and Incentives
For more information on how taxes and Incentives for local businesses might help you, call Mark Podemski at 815 987 8118 x124, or email mailto:jmueller@rockfordil.com.
Our site makes extensive use of Adobe Acrobat Portable Document Format (pdf) files. If you don’t have Acrobat Reader, you can download it for free. Just click on the button to open a new window to download and install this software.
| Information on taxes and incentives | |
|---|---|
| EDGE (pdf, 4k) | Information on the the Illinois EDGE program, a new targeted tax incentive program that provides state income tax credits to manufacturing, tourism or interstate service sales businesses that create new jobs and make capital investments in Illinois. |
| Enterprise Zone Benefits ( pdf, 65k) | Businesses investing in an enterprise zone in Rockford may be eligible for exemptions on certain taxes and other benefits. |
| IMEC | Information about the Illinois Manufacturing Extension Center, a regional not-for-profit corporation that was created to help small and mid-sized manufacturers (less than 500 employees) to modernize, boost productivity and profits, and compete globally. |
| Industrial Revenue Bond Program (pdf, 15k) | The IFA (Illinois Finance Authority) issues tax-exempt Industrial Revenue Bonds on behalf of manufacturing companies to finance the acquisition of fixed assets such as land, buildings and equipment. Bond proceeds may also be used for either new construction or renovation. |
| TIF (Tax Increment Financing) Program (pdf, 106k) | Explains what a TIF is, what TIF funds may be used for, and where the TIF Districts are in the Rockford Area. |
| Foreign Trade Zone (pdf, 10k) | Explains what the FTZ is, what benefits are associated with it, what activities are permitted in the FTZ at Chicago/Rockford International Airport. |
| Business Incentive Chart (pdf, 17k) | Describes key local and state incentives that fall into one of three types: business recruitment, for expansion and recruitment, for expansion or start-up. |
| River Edge Redevelopment Zone (pdf, 1.24 MB) | Describes tax incentives and grants available for development of environmentally challenged properties near the Rock River. |