Incentives:

• 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
    
    
• Enterprise Zone

  • Sales Tax Exemption	A state sales tax(6 1/2%) exemption on building materials to be used in the Zone. Materials can be purchased anywhere in Illinois.
    Manufacturing Machinery / Equipment Sales Tax Exemption	A state sales tax (6 1/2%) exemption on the purchase of tangible personal maintenance of manufacturing and assembly equipment. Eligibility is contingent upon levels of business investment and the jobs created of maintained.
    Utility Tax Exemption	A state utility tax exemption on natural gas, electricity and charges related to telecommunications.
    Investment Tax Credit	A state investment tax credit of 1 1/2% on machinery, equipment and buildings.
    Job Tax Credit	$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.
    State Income Tax Deductions	Individuals, corporations, trusts and estates are not taxes on dividend income for corporations doing substantially all their business in the Zone. http://www.lib.niu.edu/ipo/im880805.html

• Foriegn trade Zone (potential)
  • Legally, a Foriegn-Trade Zone (FTZ) is an area within the United States that the Government considers outside the country, or at least, outside of the U.S. Customs territory. Certain types of merchandise can be imported into a Zone without going through formal Customs entry procedures or paying import duties.
    
    At the very least, an FTZ can help you defer paying duties. More often, the company pays lower and Border Protection, but to it's bank, insurance company, and other vnedors.
    
    FTZ Advantages / Improving Cash Flow
        • Lower inventory costs
        • Defer, reduce and/or eliminate U.S. Customs duties
        • Distribution savings
        • Elect preferential duty rates
    
    
• Illinois Department of Commerce & 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