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The Economic Alliance of Kankakee County assists companies in obtaining various state and local investment incentives. Some of the major incentives include: Enterprise Zone Program Kankakee County has two Enterprise Zones. The Kankakee River Valley Enterprise Zone includes portions of Aroma Park, Bourbonnais, Bradley, Kankakee and unincorporated Kankakee County. The second Zone, Kankakee County (Manteno) Enterprise Zone, includes selected areas of Manteno and unincorporated Kankakee County. The County of Kankakee acts as the administrator for both Zones. Depending on the type of project, businesses may be eligible for state and local tax incentives, regulatory relief and improved government services. The program is a proven resource available to businesses to expand their operations and create and/or retain quality jobs in Kankakee County. Businesses must finalize an Enterprise Zone agreement, agree to retain or create jobs and establish or expand a facility within an Enterprise Zone.
Enterprise Zone Brochure Kankakee River Valley EZ Application Packet Kankakee County (Manteno) EZ Application Packet Revolving Fund Program The Revolving Fund Program is a major component of the County’s economic development incentives package and is made available through the Department of Commerce and Economic Opportunity’s Community Development Assistance Program. The Fund was established to provide financial assistance, through low-interest loans or grants, to new or expanding businesses in Kankakee County which helps develop a stronger economic base and expanded job opportunities.
Downloads Revolving Fund Brochure Tax Incremental Financing (TIF) Districts TIFs allow local governments to restore deteriorating or economically depressed areas without raising taxes on local residents. As a result of TIFs, new or existing businesses develop more jobs, more customers and more private investment. The jobs and additional investment mean more money for the community. Local governments, in turn, can use TIF funds to make necessary improvements such as new roads or sewers without using general town revenue. Local municipalities administer their own TIF district programs. Municipalities with TIF districts include the Villages of Bourbonnais, Bradley, Grant Park, Manteno and the City of Kankakee.
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The Illinois Enterprise Zone Act was signed into law on December 7, 1982. The purpose of the Act is to stimulate business investments and promote the creation of jobs in targeted areas through tax incentives. 
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Eligible uses of the fund include site development/infrastructure extension costs, construction of a new facility or additions, renovation of existing facilities, leasehold improvements where appropriate, working capital and inventory. For every $15,000 of revolving funds provided, one full-time job should be created or retained. |