Grow Your Business

The EDG staff is ready to listen to your ideas and financial realities when considering investment our community. The City of Elgin may provide customized assistance to qualfing projects. The State of Illinois also offers numerous programs. Let us help you cut through the red tape and access the programs that could benefit your business the most.

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City of Elgin

Customized Incentives

Businesses may qualify for incentives depending on the number and types of jobs created or reatined, the scope of the project and the amount of the investment.
 
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Tax Increment Financing (TIF)

The City of Elgin has created TIF Districts to serve as a powerful tool to spur economic growth.  Tax revenues generated by improvements in the area can be invested back in district for use in land acquisition site preparation, building rehabilitation and public improvements. 

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Industrial Revenue Bonds (IRBs)

IRBs are privately funded tax-exempt (low interest) bonds issued under City of Elgin authority. The bonds proceeds may be used for acquisition, construction or renovation of industrial properties.

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Grease Trap Incentive Program

Rebate of up to 50% of the cost of the grease trap for restaurant facilities served by combined sewers.

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State of Illinois

Illinois' Economic Development for a Growing Economy Program (EDGE)

Program can provide tax credits to qualifying companies making an investment of at least $5 million in capital improvements and creating a minimum of 25 new jobs. For a company with 100 or fewer employees, the program requires a capital investment of $1 million and the creation of 5 new jobs.

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Project Fast-Tracking

The City of Elgin and EDG understands the importance of getting your project underway and completed as soon as possible. There is a process in place for the expedited review of plans and the timely issuance of permits.

 

Have a question?

 

Tony Lucenko

Tony Lucenko

I can help. My office phone is: 847-741-5663 ext. 220

Email Tony