Business Development Public Infrastructure Program (BDPIP)

The Business Development Public Infrastructure Program (BDPIP) is designed to provide grants to units of local government for public improvements on behalf of businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large amount of Illinois jobs.  The infrastructure improvements must be made for public benefit and on public property and must directly result in the creation or retention of private sector jobs.  The local government must demonstrate clear need for financial assistance to undertake the improvements.  Grant eligibility and amounts are determined by the amount of investment and job creation or retention involved.

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Employ Illinois

Employ Illinois gives business owners access to capital to start or enhance their businesses with the help of low-interest rate loans.  The loans are available to business owners large and small, and there are programs tailored to owners of child care facilities and self-employed Reserve Forces.

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Employer Training Investment Program (ETIP)

The Employer Training Investment Program (ETIP) helps keep Illinois workers' skills in pace with new technologies and business practices, which, in turn, helps businesses increase productivity, reduce costs, improve quality and boost competitiveness. ETIP grants can reimburse new or expanding companies for up to 50 percent of the cost of training their employees.  Trainees must be employed by the company prior to implementation of the training program.  Instructors may be plant workers, public educators, private consultants, or others possessing the required expertise. Grants may be awarded to individual businesses, original equipment manufacturers sponsoring multi-company training for employees of their Illinois supplier companies, and to intermediary organizations operating multi-company training projects.

Reimbursement of up to 50% of total training costs of approved training programs

Large Company Component (ETIP/LLC - formerly ITP): companies must have 250 of more full-time employees;

Employees must be permanent, full-time.  Project must meet eligibility requirements

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Enterprise Zone

The City of Rockford's Enterprise Zone offers local and state tax incentives and other benefits, including exemptions on certain taxes to new and existing businesses to reduce their operating and construction costs.

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Enterprise Zone Participation Loan Program (EZ/PLP)

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Export Import Bank of the U.S.

The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States.  Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services to international markets.

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Foreign-Trade Zone (FTZ) #176

A Foreign-Trade Zone (FTZ) is a restricted-access site, in or within 60 miles or 90 minutes driving time, to a Customs port of entry that operates under the sponsorship of a corporation granted authority by the U.S. Foreign-Trade Zones Board and under supervision of the Customs Service.  The Rockford Area, with the Chicago Rockford International Airport (RFD) as grantee, enjoys Foreign-Trade Zone #176 status.  RFD also houses the Rockford Port of Entry.

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High Impact Business (HIB) Program

The High Impact Business (HIB) program is designed to encourage large-scale economic development activities, by providing tax incentives (similar to those offered within an enterprise zone) to companies that propose to make a substantial capital investment in operations and will create or retain above average number of jobs.  Businesses may qualify for: investment tax credits, a state sales tax exemption on building materials, an exemption from state sales tax on utilities, a state sales tax exemption on purchases of personal property used or consumed in the manufacturing process or in the operation of a pollution control facility.  The project must involve a minimum of $12 million investment causing the creation of 500 full-time jobs or an investment of $30 million causing the retention of 1500 full-time jobs.  The investment must take place at a designated location in Illinois outside of an Enterprise Zone.  The program has been expanded to include qualified new electric generating facility, production operations at a new coal mine or, a new or upgraded transmission facility that supports the creation of 150 Illinois coal-mining jobs, or a newly constructed gasification facility as a "Coal/Energy High Impact Businesses".

Tax incentives for companies making substantial capital investment and creating above average number of jobs.

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Illinois Taxes and Tax Incentives

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Large Business Development Program (LBDP)

Incentive funding to encourage large out of state co's to locate in IL or encourage existing IL com's to undertake major job expansion/retention project within IL.

The Large Business Development Program (LBDP) program is designed to provide grants to businesses undertaking a major expansion or relocation project that will result in substantial private investment and the creation and/or retention of a large number of Illinois jobs.  Funds available through the program may be used by large businesses for bondable business activities, including financing the purchase of land or buildings, building construction or renovation, and certain types of machinery and equipment.  Grant eligibility and amounts are determined by the amount of investment and job creation or retention involved.

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Manufacturing Modernization Loan Program

Sub-prime rate loans to manufacturers for financing upgrading and modernization of euipmetn and operations .

The Manufacturing Modernization Loan Program is designed to provide manufacturers with access to adequate and affordable financing for upgrading and modernizing their manufacturing equipment and operations.

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Opportunity Illinois

Opportunity Illinois Community Development loans enable businesses and non-profits to broaden their services, strengthening neighborhoods and communities.  More than 400 financial institutions across the state provide low-interest community development loans through the Treasurer’s Opportunity Illinois program.

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Participation Loan Program

The Illinois Finance Authority (IFA) assists businesses that create or retain jobs by offering a loan participation in conjunction with their bank.  Through this program the Authority will purchase up to the lesser of $1,000,000 or a 50% participation in the loan, directly from the borrower's bank.

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River Edge Redevelopment Zone

The State of Illinois created the River Ede Redevelopment Zone program to stimulate the safe and cost-effective development of environmentally challenged properties near rivers through the use of tax incentives and grants.  Used to their fullest extent, these incentives can result in substantial savings for both property and business owners.

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RLDC & NICDC & Small Business Administration 504 Program

NICDC = Northern Illinois Community Development Corporation

RLDC = Rockford Local Development Corporation

Fixed rate loans for business start-up, expansion, modernization, etc.

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State Treasurer's Economic Program (STEP)

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State Treasurer's Economic Recovery Loan Program (ER)

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Tax Increment Financing (TIF) Districts

Tax increment financing (TIF) is an economic tool used by cities to finance certain types of development costs.  The primary purpose of TIF is redeveloping blighted areas by providing public improvements, encouraging private investment, providing employment opportunitites, and improving the tax base.

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Winnebago County Loan Program

Low interest rate loan of up to $15,000 for each new job created in first 2-3 yrs.

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Winnebago County Tax Abatement

Tax abatement on county portion of tax bill

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