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            • INCENTIVES.fw.png

            • Andy's Frozen Custard opened in Elgin 2018          

            • Incentives

              The EDG staff is ready to listen to your ideas and financial realities when considering investment in our community. The City of Elgin may provide customized assistance to qualifying projects. The State of Illinois also offers various programs. Let us help you cut through the red tape and access the programs that could benefit your business the most.

            • Data Center Investment Tax Exemptions and Credits - Illinois Data Center Investment Tax Exemptions and Credits - Illinois

              Data Center Investment Tax Exemptions and Credits

              ​The data centers investment program provides owners and operators with exemptions from a variety of state and local taxes for qualifying Illinois data centers. The program also provides data center owners and operators with a tax credit of 20% of wages paid for construction workers for projects located in underserved areas.

              Eligibility

              • New and existing data centers and their tenants collectively making a capital investment of at least $250 million over a 60-month period.
              • The data center owner/operator and its tenants create at least twenty (20) full-time or full-time equivalent new jobs associated with the operation or maintenance of the data center.
                • Total compensation for these jobs must be equal or exceed 120% of the median wage paid to full-time employees in the county where the data center is located.
              • The data center must also be carbon neutral or attain certification under one or more green building standards.
              • In order to receive the construction employment tax credit, the project must be located in an underserved area based on certain statutory criteria.

              Certification

              • Qualifying Illinois data centers must apply to the Department for certification for the program.

              • Certified data centers must enter into a memorandum of understanding with the Department

              • Containing statutorily-required terms and other terms deemed necessary by the Department.

              • The data center tax exemptions have a 20-year life span, which will result in 5-year increment certificates that are renewable assuming continued compliance with the relevant statutory, rule and contractual provisions by the data center.

              Data Center Applications

               

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            • Prime Sites Program

              The Prime Sites Program is a highly competitive capital grant opportunity available from the Illinois Department of Commerce and Economic Opportunity (DCEO) for companies proposing large scale development projects that will create at least 50 well-paying jobs for Illinois residents. Funded by Rebuild Illinois, DCEO will leverage the Prime Sites fund to provide matching capital for large investments by businesses relocating to or expanding in Illinois. Grants will range from $250,000 to $6 million and will be tied to the number of new jobs created. Recipients will be required to provide a minimum 4-to-1 match – enabling the grant to cover up to 20% of total capital costs for each project.

              To apply for a Prime Sites grant, companies must commit to creating at least 50 well-paying jobs and investing $40 million in Illinois or creating at least 100 well-paying jobs and investing $20 million in Illinois. Companies must receive contingent approval through the State of Illinois that they qualify for the EDGE or High Impact Business program, incentives provided to companies that commit to expansion or job creation in Illinois. A full list of eligibility requirements can be found on DCEO’s website.

              DCEO will begin accepting applications for Prime Sites on September 20, 2021, and awards will be made on a rolling basis.


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            • The City of Elgin offers a business-friendly, welcoming environment. The Elgin Development Group can help your business navigate the development process and arrange meetings with the key people to help get your project off on the right foot and to the finish line. The EDG recognizes that “Fast Track Permitting” is a key incentive to businesses that need to start producing or selling products to meet customer demand. In select cases, businesses may be eligible for other incentives such as building permit fee waivers, sales tax rebates and tax increment financing. 


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            • Illinois offers a competitive range of incentives for locating and expanding your business, including tax credits and exemptions that encourage business growth and job creation.  Additional grant programs and access to loans can assist your business with working capital, machinery and equipment, land acquisition, building construction and public infrastructure improvements.  And for those looking to invest in Illinois companies, early-stage investment incentives are also available. Visit the Illinois Department of Economic Opportunity to learn more.


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            • The U.S. Federal Government offers a range of services and programs for companies that operate in the United States – from general workforce development and energy efficiency grants to industry-specific incentives. State, territorial, and local governments are often the primary source of specific assistance to help business investors get new ventures off the ground or expand their existing operations.


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              Save energy and money by taking advantage of these programs and tools for your business. Take advantage of ComEd's Energy Efficiency Program incentives that can help you reduce your energy consumption.
               


            • Learn about cash Nicor's business saving programs and other energy efficiency improvements. Special projects may qualify for custom incentives to help reduce energy use.