Contact Calumet Region Enterprise Zone

The concept underlying Enterprise Zones is that reducing government regulation and taxation in economically depressed areas will stimulate local business enterprise and investment that would otherwise not occur. This is accomplished through state and local tax incentives.

Core benefits of Enterprise Zones are sales tax abatement on building materials for projects in the zone with valid Illinois Department of Revenue (IDOR) building materials sales tax exemption certificate; 50% abatement of the municipal portion of real estate taxes on the added tax value the project creates for 5 years (Projects in a TIF or receiving other property tax abatements are not eligible for this benefit); and 50% discount on local building permit fees (All other fees and inspection procedures follow local ordinances). Types of projects that qualify for Enterprise Zone incentives are commercial, industrial, and residential developments that contain twelve units or more under one ownership. Benefits in Calumet Region Enterprise Zones can total millions of dollars over a given time period. This aggregate tax break makes a huge difference to business start-ups and expansions, which often require large capitalization expenditures that would otherwise be difficult to afford.

Since Calumet Region Enterprise Zone began in 2016, businesses have invested $ 25 million in construction, remodeling and rehabilitation. 2293 jobs were retained In the Calumet Region Enterprise Zone and 340 new jobs were created. Several of these projects turned long vacant areas into vibrant thriving business centers. Others helped established businesses expand or modernize at their current location. If your business is in one of these designated areas, you may be eligible for these economic incentives. These investments bring new property tax revenues to the Zone towns, and new sales tax to their home communities. If you are interested, please contact:

Mary Schmidt

Zone Assistant

CALUMET REGION ENTERPRISE ZONE

calumetregionezone@gmail.com

708-653-3122

www.calumetezone.org