Ottawa Industrial Sites | Ottawa Illinois

Industrial Park – Facts & Incentives

Facts | Incentives | Environment & Utilities

TAX INCREMENT FINANCING

The Ottawa Industrial Park ("OIP") is located in a Tax Increment Financing ("TIF") District. In a TIF District, the increase in real estate taxes - the Increment - generated by a development is shared with the developer, to defray eligible costs. Eligible cost include land, site preparation, engineering, architectural, property reports (environmental, soil tests, etc.), legal, construction interest and job training, etc. (essentially all costs except building costs). The owner of the building can be reimbursed for approximately 50% of their real estate tax bill for up to twenty years.

www.illinois-tif.com

A state sales tax (6 1/2%) exemption on building materials to be used in the Zone. Materials can be purchased anywhere in Illinois.

A state sales tax (6 1/2%) exemption on the purchase of tangible personal property to be used or consumed in the maintenance of manufacturing and assembly equipment. Eligibility is contingent upon levels of business investment and the jobs created or maintained.

A state utility tax exemption on natural gas, electricity and charges related to telecommunications.

A state investment tax credit of 1 1/2% on machinery, equipment and buildings.

$500 tax credit for each job created for which a dislocated or economically disadvantaged worker is hired. A minimum of five eligible employees must be hired.

Individuals, corporations, trusts and estates are not taxes on dividend income for corporations doing substantially all their business in the Zone.

ENTERPRISE ZONE:

Sales Tax Exemption:

Manufacturing
Machinery/ Equipment
Sales Tax Exemption :

Utility Tax Exemption

Investment
Tax Credit

Job Tax Credit

State Income Tax
Deductions

ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY ("IDCEO")

EDGE Tax Credit

Three percent (3%) of payroll for ten (10) years.

ETIP Grant

Matching grant for job training of $500 per employee

www.commerce.state.il.us

ILLINOIS DEPARTMENT OF EMPLOYMENT SECURITY ("IDES")

Human Resources Functions

– Advertising
– Screening
– Interviewing

www.ides.state.il.us

UPPER ILLINOIS RIVER VALLEY DEVELOPMENT AUTHORITY ("UIRVDA")

UIRVDA is our regional bonding authority, which issues both taxable and tax-exempt bonds for both private development and public infrastructure and public works. UIRVDA offers below market financing for new development.

www.uirvda.com

ILLINOIS VALLEY COMMUNITY COLLEGE ("IVCC"))

IVCC offers custom on-site training programs.

www.ivcc.edu