Business Assistance & Incentives
District-Wide Assistance & Incentives
Business Incubator at Southern Illinois University, Carbondale – mission of the Business Incubator Program is to accelerate the start-up and expansion of businesses in southern Illinois. The program is here to provide the guidance and consulting necessary to ensure those start-ups and expanding firms have the tools necessary to succeed.
Opportunity Zone – Incentive program for investors to invest in designated areas for temporary tax deferral or abatement of capital gains taxes. Consult your accountant or tax attorney for details.
Workforce Assistance – Man-Tra-Con collaborates with innovative partners in economic development, healthcare, community, and social service and education to create unique workforce challenges.
The Illinois Procurement Technical Assistance Center (PTAC) at Southern Illinois University helps local small businesses to enter and succeed in the world of government contracting. Along with technical assistance, the Illinois PTAC provides companies with immediate email alerts on solicitations issued for their particular products or services.
The Economic Development Program (EDP) provides state assistance for roadway improvements or new construction necessary for access to new or expanding industrial, manufacturing, or distribution type companies.
New Market Tax Credit Program (NMTC Program) attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39 percent of the original investment amount and is claimed over a period of seven years. As with opportunity zones, only designated areas are eligible. Consult your accountant or tax attorney for details.
Franklin County Business Incentives
Business Loan Programs – a partnership with banks and other lending sources to package the best possible financing for the County’s dynamic small businesses, startups, and government units.
Enterprise Zone – Property tax abatement zones.
Tax Increment Financing (TIF) – Property tax reimbursement area for developers.
Jackson County Business Incentives
Carbondale/Murphysboro/Jackson County Enterprise Zone – Property tax abatement zone.
Carbondale Façade Improvement Loan Fund – Program designed to decrease loan interest rates in the downtown area.
Murphysboro Façade Improvement Loan Fund – Program designed to decrease loan interest rates in the downtown area.
Tax Increment Financing (TIF) – Property tax reimbursement area for developers.
Jefferson County Business Incentives
Enterprise Zone – Property tax abatement zone.
New Markets Tax Credits – Peoples National Bank received designation as a Community Development Entity. Eligible projects may qualify for reduced financing costs.
Tax Increment Financing (TIF) – Property tax reimbursement area for developers.
Perry County Business Incentives
Enterprise Zone – Property tax abatement zone.
Façade Improvement Grant – Participants are eligible to receive a 50/50 matching grant, up to $10,000, for design improvements to commercial properties within the Business District upon completing their project.
Revolving Fund – used to assist with financing business and economic development activities to create or retain jobs in disadvantaged and remote communities.
Tax Increment Financing (TIF) – Property tax reimbursement area for developers.
Williamson County Business Incentives
Local Incentives – Local communities who partner with Williamson County’s Regional Economic Development Corporation (REDCO) will often provide incentives for prospective businesses and employers. Some of these incentives include:
- Extension of water and sewer lines at no cost or a reduced cost.
- Waiver of water and sewer tap-on fees.
- Waiver of building permit costs.
- Extension of access roads at no cost or a reduced cost.
State Incentives – REDCO will work with the Illinois Department of Commerce and Economic Opportunity to secure a fully competitive incentive package from the state following the tentative selection of a site and subject to the establishment of minimum employment targets.