Elk Grove Village Business Park

Beyond Business Friendly

Business Incentives

Tax Incentives

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Advancing Innovative Manufacturing (AIM) program which provides support for projects undertaking substantial capital improvements. Tax credits are based on qualified investments over a 5 year period.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Blue Collar Jobs Act (BCJA) program which provides tax credits based on wages paid to construction workers on eligible projects. 

  • To qualify for the  Cook County Class 6b Property Tax Incentive:

    • New industrial construction
    • Significant renovation of industrial buildings vacant for an extended time

    Tax Savings (12 Years):

    • Years 1-10:  10% assessment
    • Year 11: 15% assessment
    • Year 12: 20% assessment

    The standard industrial assessment rate is 25%.

    You must first qualify through Elk Grove Village.

    Contact: Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org

  • To qualify for the  Cook County Class 7b Property Tax Incentive:

    • New construction construction
    • Significant renovation of commercial buildings vacant for an extended time

    Tax Savings (12 Years):

    • Years 1-10:  10% assessment
    • Year 11: 15% assessment
    • Year 12: 20% assessment

    The standard industrial assessment rate is 25%.

    You must first qualify through Elk Grove Village.

    Contact: Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org

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

  • 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.

  • 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.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Illinois Apprenticeship Education Expense Tax Credit program that provides a credit for apprentices, support for specialized and offers expanded eligibility for training costs.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the MICRO Program that supports semiconductor manufacturing and related industries in Illinois. 

Grants and Funding

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the Prime Sites Capital Grant program providing grants of up to $10,000 per new job are available, with total awards between $250,000 and $25 million.

  • The Illinois Department of Commerce and Economic Opportunity (DCEO) administers the REV program offer payroll or income tax credits for manufacturers of EVs, EV components, and charging stations

  • Tax Increment Financing (TIF) is an economic development tool that supports redevelopment in blighted areas. TIF funds are used to improve infrastructure and help redevelopments or expansions within TIF districts that benefit the community and face funding gaps that could otherwise halt progress.

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

    Contact Sue Dees at 847-357-4005 or BusinessDevelopment@elkgrove.org.