Lanark & Area Economic Development

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Current Economic Development Projects For Lanark:



TIF District

CITY OF LANARK, ILLINOIS

CONSERVATION AND OPPORTUNITY FOR GROWTH

REDEVELOPMENT PROJECT AREA

The Economic Development Committee has established a TIF (Tax Increment Finance) District to help draw jobs and people to Lanark. At the April 18, 2005 Council meeting the Council voted unanimously to adopt Ordinances 808, 809, & 810 to establish the TIF District.

Lanark TIF Documents and Maps

The first Joint Review Board meeting was held February 17, 2006.
The Joint Review Board consists of a one representative from each of the affected taxing bodies.
The board drafted a letter of recommendation to proceed with the adoption of the TIF District.
A public hearing was held March 21, 2006.

For more information about TIF click here for Illinois-TIF.com faq page.
For specific information about Lanark's TIF district call or write Alderman John Huggins at 493-1038 jhuggins@lanarkil.com.


EDGE Tax Incentive

The EDGE program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another State. The program can provide tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs. The non- refundable credits can be used against corporate income taxes to be paid over a period not to exceed 10 years.  To qualify a company must provide documentation that attests to the fact of competition among a competing state, and agree to make an investment of at least $5 million in capital improvements and create a minimum of 25 new full time jobs in Illinois.  For a company with 100 or fewer employees, the company must agree to make a capital investment of $1million and create at least 5 new full time jobs in Illinois.

Location One Information System (LOIS) Update -
Location One is a Web site that municipalities, counties, state, etc. can list commercial and industrial sites and buildings to make it easier and more accessible to businesses looking to move, site locators, and developers to find locations in your area.
CLICK HERE to view the current information about the Lanark area or to find documents to fill out to have a property listed.


NEW! Printable Brochures!


Lanark Cornerstone Project


Renewable Energy: Wind Monitoring Program / E85 Fuel -
Lanark is taking a step in the direction of renewable energy. June 9th, 2006 Lanark erected a 50 meter (165 feet) MET tower to monitor wind speed near the center of Carroll County. The data will be available to the public so that schools, entrepreneurs, farms, etc. that are nearby can use the information to determine the viability of wind turbines on their property.  Data should being to be available in late July. The results can be viewed at www.illinoiswind.org.
For more information please click here.

On a related note, the City will have another renewable energy source available even sooner. The Carroll Service Fuel 24 station (along highway 52/64 on the Southwest corner of town) has installed an E85 fuel pump. The first public pump in Carroll County.

 




Other Area Economic Development Projects:



Blackhawk Hills Entrepreneurs & Inventors Club
For more information visit
www.bheic.com.


Blackhawk Hills RC &D/EDD
http://www.blackhawkhills.com


Blackhawk Waterways CVB
http://www.bwcvb.com/


Federal Business Information Sites

How to sell to the US Government

Procurement Technical Assistance Centers (PTAC)

FedBizOpps (Federal Business Opportunities)

Office of Small Business Programs (OSBP)
 

 

 
 
 
Demographics sources: U.S. Census Bureau, 2000 census
© 2008, Errantwolf Productions
  Last update: 02/27/2009
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