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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.

 

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

 

 

Greg Truninger
Director of Business Development
124 SW Adams, Suite 300
P 309.495.5952
F 309.495.5962
E gtruninger@edc.h-p.org
Mayor Bill Koos
670 N. Chestnut Street
Minonk, Illinois 61760
P 309.432.2558
F 309.432.3547                 
E
minonk@maxis.com