Beyond Business Friendly

Business Incentives

Tax Incentive Programs

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the EDGE program, offers annual tax credits (up to 10 years) to qualifying businesses that support job creation, capital investment, and improve the standard of living for all Illinois residents.

    For information and to assess your eligibility visit dceo.illinois.gov.

  • The Class 6b program is designed to stimulate industrial development in Cook County by offering a real estate tax incentive for:

    • Development of new industrial facilities
    • Significant renovation of existing industrial structures
    • Industrial reuse of buildings that have been vacant for an extended period

    Qualifying properties benefit from a reduced assessment level over a 12-year period:

    • Years 1-10: Assessed at 10% of market value
    • Year 11: Assessed at 15%
    • Year 12: Assessed at 20%

    This reduction is significant compared to the standard industrial assessment rate of 25%.

    Prior to completing a Cook County Class 6b application, businesses and/or property owners must first qualify for support from Elk Grove Village through our local application process. For information about this program or how to get started, reach out to Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org.

    For more information and Cook County application procedures, please visit the Cook County Assessor's Office website.

  • The Cook County Class 7 Property Tax Incentive is designed to stimulate commercial development in areas determined to be in need of commercial development.

    Prior to completing a Cook County Class 7 application, businesses and/or property owners must first qualify for support from Elk Grove Village through our local application process. For information about this program or how to get started, reach out to Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org.

    For more information and Cook County application procedures, please visit the Cook County Assessor's Office website.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Blue Collar Jobs Act (BCJA) program which provides support for large-scale economic development in Illinois by providing corporate income tax credits to companies making significant capital investments. Tax credits are based on wages paid to construction workers employed on eligible projects.

    For more information, visit the DCEO BCJA page.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the High Impact Business (HIB) Program which supports large-scale economic development in Illinois by providing tax incentives to companies that commit to substantial capital investments in facilities that will create or retain a substantial number of jobs.

    For more information, visit the DCEO HIB Program page.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Data Center Investment Program, to promote data center and technological development in Illinois.

    For more information, visit the DCEO Data Center Investment Program page.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the MICRO Program that supports semiconductor manufacturing and related industries in Illinois. It offers tax credits, grants, and other incentives to companies investing in semiconductor manufacturing facilities.

    For more information, visit the MICRO detail page.

Grants and Funding

  • Tax Increment Financing (TIF) is an economic development tool used to assist in the redevelopment of a specific area that is blighted. Elk Grove Village actively uses TIF funds to address important infrastructure needs that support redevelopment. TIF funds may also be used to support redevelopment or expansion projects located within a TIF district that demonstrate a clear benefit to the community and have encountered a funding gap in the project budget that would otherwise prevent the project from moving forward.

    Click here for information on how Tax Increment Financing works and a list of active TIF Districts in Elk Grove Village.

    To discuss a potential project, reach out to Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org.

  • The lllinois Department of Commerce and Economic Opportunity (DCEO) administers the Prime Sites Capital Grant Program which supports large-scale capital investment projects that commit to significant job creation for Illinois residents as they relocate or expand operations within Illinois.

    For more information, visit the DCEO Prime Sites Capital Grant Program page

  • Administered by the Illinois Department of Transportation, the EDP Grant provides state assistance for roadway improvements or new constructions necessary for access to new or expanding industrial, manufacturing, or distribution companies. Funding for the program is based on the creation and retention of permanent full-time jobs.

    For more information visit the Illinois Department of Transportation page.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the REV Program providing incentives for manufacturers of EVs, EV components, and charging stations, to pave the way for investment in priority areas, and to incentivize employers to provide ongoing skills training in this field.

    For more information, visit the REV Illinois page.

  • The Federal Department of Treasury provides the New Markets Tax Credits (NMTC) Program to incentivize private investment in economically distressed areas by offering tax credits. Investors receive these credits in exchange for equity investments that foster revitalization and create jobs.

    Learn more about the NMTC Program at the CDFI Fund's official page.

    Click here for a full list of available grants from the Department of Commerce and Economic Opportunity.