The Village of Machesney Park prides itself on its business-friendly practices and proactive approach in attracting new development that will grow our local economy. This effort is accelerated by the incentives we are able to offer prospective and existing businesses. From partnerships with the State of Illinois to local incentive agreements, our staff will work diligently to help you secure applicable financial assistance for your development project.
Please note that the incentives listed below are only available in certain locations for eligible projects.
The State of Illinois sponsors a wide range of assistance programs that your business may be eligible to take advantage of. We urge you to visit the Illinois Department of Commerce & Economic Opportunity website to learn more about the incentive programs, grant opportunities, and low interest loan programs offered through the agency.
The Village of Machesney Park and City of Loves Park together with the State of Illinois offer businesses and investors a variety of valuable tax credits and sales tax exemptions to support development within the Enterprise Zone boundary. Visit myenterprisezone.com to learn more about the incentives and for a map of eligible properties.
TIF (Tax Increment Financing) Districts
TIF is another means for the Village to bring new development and viability to areas that may be blighted and underperforming. Click here to visit the Village’s TIF Districts page and learn more about the TIF district boundaries and eligible expenses.