The Pike County Economic Development Corporation can serve as a conduit between your business and local communities in Pike County to find financial incentives for you. Pike County has a number of incentives available to businesses. Each incentive applies differently, so give us a call if you are interested. Below is listing of the various kinds of incentives based on where you are looking to develop your business.
Enterprise Zone – Commercial/Industrial projects are eligible for a number of incentives under the WIEDA Enterprise Zone. The following incentives may be available to your project: 1) Building Materials Sales Tax Exemption 2) Reduced Permit Fees 3) Jobs Tax Credit 4) Investment Tax Credit 5) Income Tax Deductions 6) Machinery and Equipment State Sales Tax Exemption 7) Utility Tax Exemption
Tax Increment Financing – For projects locating in the communities of Pittsfield and Barry, this program may offer incentives to your project. TIF agreements can be developed for your project. Contact us for more information.
Opportunity Zone – Most of Pittsfield lies within a designated Opportunity Zone. These are areas where investors can defer or eliminate capital gains tax realized on their investments by investing those gains into projects in low-income census tracts. The guidelines are still being finalized, so please check with an accountant on the proposed rules.
Low Interest Loans – There are a number (7) low interest loan funds available to new businesses. The loan rates are below the average market rate. Contact us to learn more about these programs.
Loans and Incentives are also available through:
Illinois Department of Commerce and Economic Opportunity
USDA Rural Development
Illinois Finance Authority
Contacts us to discuss how these incentives can work for your project.
