Cook County Incentives
COOK COUNTY has Business Development Incentives as well. Please call the Business Assistance Representatives at 312.603.1070 for details and additions information. You may also call "COOK COUNTY FAX BACK" at 312.603.1010 for information on their fax back program descriptions and fact sheets.
Cook County Property Tax Incentives - Class 6b incentive reduces assessment level on qualifying industrial applications from 36% to 16% for 8 years, increasing gradually to 36% in yr. 11. Class 7a--up to 50% reduction in commercial company's total property tax bill for 10-year period (projects of $2 M or less). Class 7b--same for industrial or commercial projects over $2 M. For a Class 6b application or 6b questions, call Cook County Assessor's Legal Department at 312-603-7529, or visit the Assessor's Web Site at www.cookcountyassessor.com
Cook County No Cash Bid Program - incentive to redevelop tax delinquent commercial, industrial or residential R/E by eliminating all back taxes, interest and penalties. Allows developer to acquire R/E at no cost. Plans must be agreed upon between the developer and municipality.
Cook County Revolving Loan Fund - offers an interest at half prime rate, no points, $25,000 to $300,000. A minimum 51% of jobs must be filled by low and moderate income persons.
Industrial Revenue Bonds - Cook County and many municipalities issue public and private purpose tax-exempt revenue bonds.
Department of Commerce and Economic Opportunity formerly (ILLINOIS DEPARTMENT OF COMMERCE & COMMUNITY AFFAIRS (DCCA)) has a listing of incentive on their web site at www.commerce.state.il.us. Some of the incentives are listed as follows. www.illinoisbiz.biz/bus_incentives_txt.html