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FINANCING/INCENTIVES

Jacksonville/Morgan County Enterprise Zone
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 an eight-year sliding scale, exempts sales tax on building material and offers several income tax incentives.

Tri-County Community Development Corporation
One of six CDC's formed as part of the U.S. Department of Commerce & Economic Development Administration pilot program in December 1988. The Tri-County CDC was organized to provide gap financing and seed capital loans to retain and create employment in Morgan, Cass, and Scott counties. It is a for-profit corporation consisting of investors from 12 regional banks, the city of Jacksonville, the Jacksonville Area Chamber of Commerce, and Illinois Rural Electric Cooperative.

City of Jacksonville Revolving Loan Fund
Provides gap financing for existing businesses locally, as well as, out of town businesses wanting to locate in Jacksonville. The RLF was established through funds recaptured from Community Development Assistance Program economic development loans.

City of Jacksonville TIF District
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.

Village of South Jacksonville TIF District
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.

Scott County Development Corporation
Revolving Loan Fund
Provides gap financing and seed money for existing Scott County businesses, as well as, any company wanting to locate in the county. The RLF program was established in 1964 through local investments.

Illinois EDGE Program
Provides tax credits that can amount to as much as the income taxes paid by the newly hired and/or retained employees.  These tax credits are available for up to 10 years for each project. 
 
Illinois CDAP Infrastructure Grant
Provides grants to local governments whose population is less than 50,000, to assist with improvements to public infrastructures which directly support an economic development project benefiting low to moderate income residents.  The maximum grant available is $750,000.
 
The following State Incentives are available through the Illinois Department of Commerce and Economic Opportunity...

Critical Skills Shortages Initiative
Workforce Investment Act
Employer Training Invesment Program
High Impact Business Program
Business Development Public Infrastructure Program
Illinois Department of Transportation, Economic Development Program
Large Business Development Program
Participation Loan Program
Manufacturing Modernization Program


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