Jefferson County, Illinois offers many advantages for growing companies, including a variety of state and local incentive programs to support business development. The State of Illinois provides tax credits and exemptions to encourage businesses to grow and create jobs.
Depending upon your company’s needs, it may also qualify for grants and special loan programs to assist with working capital, machinery and equipment, land acquisition, building construction, and public infrastructure improvements. Incentives to encourage early-stage investments are also available. Other incentive programs available to businesses in Jefferson County include:
ENTERPRISE ZONE. Part of a collaborative effort between state and local officials, the Mount Vernon/Jefferson County Enterprise Zone is an 11-square-mile area in which qualifying projects may receive incentives such as property tax abatements, fee waivers for building permits, and sales tax waivers on building materials.
OPPORTUNITY ZONE. An Opportunity Zone in Mt. Vernon provides tax deferrals for business investments that help to create jobs.
TAX INCREMENT FINANCING (TIF). Mt. Vernon uses Tax Increment Financing as a tool to promote economic development and redevelopment in specific areas of the city.