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Minonk Incentive
Sheet
Minonk TIF
• A
portion of the I-39 Commerce Park is located within a Tax
Increment Financing (TIF) District. In a TIF District, the
increase in real estate taxes (the increment) generated by a
development is shared with the developer, to defray eligible
costs.
Minonk Revolving Loan
Fund
• Low
interest loan based on job creation. Working capital, inventory,
real estate,
machinery/equipment.
Woodford County
Revolving Loan Program
• Low
interest loan based on job creation. Working capital, inventory,
real estate,
machinery/equipment.
TransPORT Development
Financing
• As
a quasi-governmental entinty, TransPORT has the ability to
leverage its bonding authority to build or expand a facility on
behalf of a private company
• TransPORT
bonding authority is designed to be used in conjunction with
other financing alternatives including, state, local, and
traditional financing
mechanisms.
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State Incentives
D.C.E.O. EDGE Tax Credit
• Three
percent (3%) of payroll for ten (10) years
ETIP Grant
• Matching
grant for job training of $500 per employee
Illinois Finance
Authority
• Participation
Loans
• Bonding
Authority up to $10 million
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