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Incentives

SSMMA Business Incentives

The South Suburban Region Enterprise Zone Resource Guide is available here.

Please click here to view or download the information listed in the table of contents below.

Introduction   4

Overview of Resources and Incentives for Development  4

South Suburban Atlas  4

Tax Incentives  5

Enterprise Zones  5

Enterprise Zone Investment Tax Credit 5

Building Materials Sales Tax Deduction  5

Enterprise Zone Machinery and Equipment/Pollution Control Facilities Sales Tax Exemption  5

Utility Tax Exemption  6

Property Tax Abatements  6

Local Incentives – South Suburbs  6

South Suburbs Enterprise Zones Info  6

Resources: 7

Tax Increment Financing  8

Cook County Special Assesment Properties  8

Class 6b  9

Class 7a and 7b  9

Class 7c  9

Class 8  10

Class C  10

Will County Incentives  10

Tax Abatement Program   10

Illinois Low Income Housing Tax Credit  11

Financing   12

Bonds  12

Illinois Finance Authority Bond Programs Overview   12

Industrial Development Revenue Bond Program   12

Solid Waste Disposal Revenue Bond Program   13

Will Kanake Regional Development AuthorityBond Programs – Will County  13

Industrial Revenue Bonds  13

Taxable Revenue Bonds  13

Non-Profit Bonds  13

Environmental Bonds  14

Misc  14

Cook County Bureau of Economic Development Private Activity Bonds Program   14

Loans  14

Illinois Finance Authority Participation Loan Program   14

Illinois Department of Transportation (IDOT) Rail Freight Loan Program   14

Southland Community Development Loan Fund  15

Predevelopment Loans  15

Acquisition Loans  15

Cook County Bureau of Economic Development Loan Programs  15

BUILT in Cook Loan Program   15

BUILT 50-40 Loan Program   16

Emerging Business Development Loan (EBDL) Program   16

Export Import Bank of the United States  16

Will County – Nircor Gas Energy Efficiency Program    16

New Markets Tax Credits  16

Small Business Resources  20

Small Business Administration  20

Small Business Development Centers  20

Far South Community Development Corporation  20

Women’s Business Development Center  20

Online Tools  20

SBA Financing  20

The SBA has several financing options to help small businesses grow, including loan programs, surety bonds, and SBIC investments. For a full catalogue of SBA resources, please view the SBA Resource Guide. 20

SBA Loan Programs  20

General Small Business Loans 7(a) 21

Microloans  21

Real Estate and Equipment Loan Program CDC/504  21

Disaster Loans  21

SBIC Investments  22

Surety Bonds  22

Advantage Illinois  22

Standard Participation Loan Program   22

MWDV Participation Loan Program   23

Revolving Line of Credit Participation Loan Program   23

Grants  24

US Economic Developmetn Adminstration  24

EPA Brownfields Grants Application Strategies  25

Brownfields  28

Voluntary Site Remediation Program    28

Site Remediation Program Steps  29

Funding Sources  30

Revolving Loan Funds: 30

Underground Storage Tank (UST) Fund  30

Cleanup Grants: 31

Loans: 31

Land Banks  31

South Suburban Atlas  31

Workforce  32

Calumet Green Manufacturing Partnership  32

Southworks Engineering and Robotics Olympics  32

Cook County Workforce Partnership Program    32

City Colleges of Chicago Workforce Academy  33

Prairie State College: Department of Corporate and Continuing Education  33

South Suburban College: Business and Career Institute  33

Moraine Valley Community College: Custom Solutions  33

Industrial Growth Zones  34