The Illinois Department of Commerce and Economic Opportunity has announced it has received 67 applications for Enterprise Zones from communities throughout the state. Several of those communities are in the WGEL listening area, including Greenville.
The department will review the applications and award up to 49 enterprise zone designations. The remainder of the state’s 97 available zones will be designated from 2016 through 2020.
Greenville City Manager Dave Willey told WGEL during the application process that an enterprise zone is, “one of the tools in our economic development toolbox.” Willey said the advantage that it has is that it provides incentives, such as a sales tax exemption for the building materials a company uses if they locate and build in Greenville. It also provides some equipment tax credits for the purchase of equipment if it’s located in an enterprise zone.
In addition to Greenville and Bond County, applications were also received for enterprise zones in and around Clinton, Madison, Effingham, and St. Clair Counties.
The Department of Commerce and Economic Opportunity will score each application and submit its findings to a governor-appointed Enterprise Zone Board, which is expected to approve or deny the applications by September 30. The new zones will take effect January 1.