Business Incentives
Enterprise Zone Program
The Enterprise Zone Program is a state and local partnership which utilizes resources from local government, business, labor and community groups to encourage economic growth. Area municipalities currently participating in the Enterprise Zone Program include: Hodgkins and McCook, IL.
Tax Exemptions
- Sales Tax Exemption - A 5% sales tax exemption may be permitted on building materials to be used in an enterprise zone. Certain restrictions apply.
- Machinery and Equipment/Pollution Control Facilities - Sales Tax Exemption - A 5% state sales tax exemption is available on purchases of tangible personal property to be used or consumed in the manufacturing or assembly process or in the operation of a pollution control facility within the enterprise zone. Certain restrictions apply.
- Utility Tax Exemption - A state utility tax exemption on gas, electricity and the Illinois Commerce Commission's administrative charge is available to businesses located in enterprise zones. Certain restrictions apply.
[Please confirm all exemptions with the village or city governments in which you wish to make an investment. All programs, in time, may be rescinded, changed, or completed.]
Tax Credits
Investment Tax Credit; Jobs Tax Credit; Income Tax Deductions; Interest Deduction; Contribution Deduction.
Business Financing
Available for companies in enterprise zones through the Illinois Development Finance Authority and through the Department of Commerce and Community Affairs.
Tax Increment Financing (T.I.F.)
Tax Increment Financing (T.I.F.) is a tool municipalities may use to carry out redevelopment activities on a local basis. This tool is used to pay for the public and designated private improvements and other services needed to encourage additional private investment within a designated area. Area municipalities with active T.I.F. redevelopment projects include Countryside, Hodgkins and Willow Springs. Other communities may have T.I.F. districts for specific projects or activities. Please contact the respective governmental organization and inquire as to the appropriate status.
Source: Economic Development Corporation for the Southwest Suburbs and the Illinois Department of Commerce and Community Affairs Corridors of Opportunity Program.
Other Incentives
Community Level
Individual communities, on a case-by-case basis, may provide incentives to new businesses.
County Level:
- Property Tax Incentives: With municipal approval, Cook County offers a reduced property tax rate schedule for new firms locating within the County, on qualified projects.
- No cash bids for tax delinquent property.
- Environmental remediation programs.
Local Business Organizations
West Suburban Chamber of Commerce & Industry
The West Suburban Chamber represents nearly 400 businesses and organizations working together to strengthen the area economic conditions, promote area assets and maintain healthy communities. The West Suburban region includes Countryside, Hodgkins, Indian Head Park, La Grange, LaGrange Park, McCook, Western Springs and Willow Springs.
Countryside Business Association (CBA); LaGrange Business Association (LGBA); LaGrange Park (LGPBA); and Western Springs Business Association (WSBA)
Each organization represents the interests of businesses within their respective communities on local issues and conducts promotional activities that will benefit the businesses that operate in that respective village or city.
