SPRINGFIELD – The Illinois Department of Commerce Wednesday announced the decision to certify four Enterprise Zones, with one being in our area.
Enterprise Zone designations, effective Jan. 1, 2019, were awarded to Carmi/White County/Edwards County along with Vandalia/Fayette County, Kewanee/Henry County and Quad Cities.
The Enterprise Zone Board evaluated applications submitted by interested parties and made their final recommendations at a meeting held on Sept. 18, 2018.
Enterprise Zones encourage job growth and investment in economically depressed areas. Companies and organizations within a zone may qualify for various tax incentives like sales tax exemptions on qualifying building materials, utility tax exemptions and various local incentives. Each zone is administered by a local official under rules established by the state.
Once designated, an Enterprise Zone maintains its designation for 15 years. The Enterprise Zone Board will review the zone after 13 years to determine a possible ten-year extension of the designation.
For more information about the Illinois Enterprise Zone program and additional resources about doing business in Illinois, please visit www.illinois.gov/dceo.