Western Illinois Economic Development Authority
WIEDA is a general development agency for the counties of Adams, Brown, Cass, Fulton, Hancock, Henderson, Mason, McDonough, Morgan, Pike, Schuyler, Scott and Warren. The Authority’s financial and supportive powers enable it, with the written approval of the Governor of the State of Illinois, to issue Taxable and Tax- Exempt Bonds for the purpose of developing, constructing, acquiring or improving properties or facilities for business entities locating in or expanding within the territorial jurisdiction of the Authority. The Authority has the ability to issue up to $250 million in bonds for economic development purposes. WIEDA is a general development agency for the counties located in the territory and is one of only ten such organizations within the State of Illinois. WIEDA also administers an Enterprise Zone within their 13 county jurisdiction. Expansions to the Zone are granted on a project driven basis.
Category: Tax Incentives, Scott County Incentives
More Tax Incentives, Scott County Incentives
Created in 2003, the TIF District is a geographic area centered around downtown Jacksonville with many areas falling within the City’s Enterprise Zone as well. The TIF provides funding for redevelopment project costs within its downtown district based on new incremental property tax revenue.Learn More
Established in 1990 to encompass downtown Jacksonville and the City’s northeast section, the Enterprise Zone was expanded in 2002 to include the industrial area along the Illinois River south of Meredosia. The Jacksonville/Morgan County Enterprise Zone provides property tax abatement on a seven-year sliding scale, exempts sales tax on building materials and offers several income tax incentives.Learn More
Created in 2000, the TIF District is a geographic area along U.S. Route 267 and bordered by Interstate 72 within the Village’s limits. The TIF District utilizes new incremental property tax revenue to help pay for infrastructure necessary in hopes of stimulating additional private-sector investment.Learn More