ECONOMIC DEVELOPMENT PROGRAM | BENEFIT | AUTOMATIC/
NEGOTIATED | LENGTH OF BENEFIT | CONTROL | Enterprise Zone
(E-Zone) | Property Tax Abatement | Negotiable | Industrial - 5 yrs @ 100% Commercial - 3 yrs @ 100% | Property Taxing Authority | | Sales Tax Waiver | Automatic | Life of E-Zone (20 yrs) | Sales Taxing Authority (City & County) | | Investment Tax Credit | Automatic | Life of E-Zone (20 yrs) | State of Illinois | | Jobs Tax Credit | Automatic | Life of E-Zone (20 yrs) | State of Illinois | | State Utility Tax Waiver | Must File with State | Life of E-Zone (20 yrs) | State of Illinois | | Manufacturing, Machinery & Equipment Sales Tax Waiver | Must File with State | Life of E-Zone (20 yrs) | State of Illinois | | Building Permit Waiver | Automatic | Life of E-Zone (20 yrs) | Local Government with Building Control | Tax Increment Financing District (TIF) | Property Tax “Recapture” | Negotiable | Up To 23 years | Local Municipality with Oversight by Joint Review Board & State | Economic Development Project Area (EDPA) | Property Tax "Recapture" | Negotiable | Up To 23 years | Stephenson County with oversight by City of Freeport, Joint Review Board & State | Property Tax Abatement | Reduction in Tax | Negotiable | Up To 10 Years -Maximum of $3 Million | Local Property Taxing Authority | Sales Tax Rebate | Recapture of Sales Tax Collected From Customers | Negotiable | Up To 20 Years - No Dollar Limit | Local Sales Taxing Authority |
ECONOMIC DEVELOPMENT PROGRAM | BENEFIT | AUTOMATIC/
NEGOTIATED | LENGTH OF BENEFIT | CONTROL | Industrial Revenue Bonds | Reduction in Interest Rate on Real Estate & Certain Equipment Purchases by Manufacturers | Negotiable | Up To 20 Years - Maximum of $10 Million Investment During Last 3 Years & Next 3 Years | Home Rule Municipality and/or State (Freeport Can Issue $2.0M/Per Year) | Economic Development For A Growing Economy (EDGE) Tax Incentive | Recaptured Employee Withholding Taxes | Negotiable | Up To 10 Years - Must Make At Least $2.5 Million Investment & Create 50 New Jobs In The State - Must Be New To State | State Of Illinois DCEO | Historic Restoration Tax Credits | Federal Tax Credits for Rehabbing Eligible Historic Buildings | Negotiable | Up To 20% of Cost of Rehab | Local Municipal Government & National Park Service | Revolving Loan Fund (RLF) | Gap Financing for New Businesses or Business Expansion at Below Market Interest Rates | Negotiable | 30% of Project Costs or $60,000; $20,000/job Created | Local Municipality | Community Development Corporation | Gap Financing For Start Up Businesses or Expansions | Negotiable | 30% of Project Costs | Local Bank Consortium |
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Incentives Grid 
