108 East Main Street
P.O. Box 425
Casey, IL 62420

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City of Casey Business Incentives

 

Clark County Enterprise Zone     Business Improvement Grant     Business Utility Grant

 

The City Business Grant Program is now closed.

We appreciate your participation, and the commitment of our businesses to our community.

In the 3-year life of this program, the following were accomplished:

  • 13 Business Improvement Grants
  • Approx. $90,000 in City funds invested in our business community
  • Approx. $700,000 in private investment in our business community
  • More than $1.5 million in outside investment in our business community
  • 12 Business Utility Grants
  • Approx. $45,000 in City Utility funds invested in our business community
  • Approx. $55,000 in private investment in our business community

 

  Approx. 30 New Jobs

Approx. 115 Retained Jobs

Bizimpgraph Bizutilgraph

 

In July of 2012, after years of work and research into economic development methodology, the City of Casey implemented two economic development programs for Casey businesses. Intended to provide assistance to for-profit businesses wishing to improve their business infrastructure, expand their business, improve the facade of their building or otherwise enhance out business community, these grants are a continued experiment by the City offered on a first come/first serve basis to eligible projects who complete the following application processes.

 

Grant Maximum Funds Funding Disbursement Requirements Reporting

Business Improvement Grant*

 

Application

up to $10,000 in matching funds, business must provide at least 50% of project funding

75% of grant disbursed to grantee upon project approval,

25% disbursed following successful completion

  • For-Profit Business
  • Eligible Project
  • Vested in Building
  • At least 50% matching funds
  • Application
  • Detailed Project Plan
  • Drawings
On a quarterly basis of the grant period, with the assistance of the Economic Development Director

Business Utility Grant**

 

Application

 up to $5,000 applied directly to business utility account

 25% of grant applied to gas and/or electric account/s one month following project approval,

75% applied following successful completion

  • For-Profit Business
  • Good Standing w/ Utility Dept.
  • Eligible Project
  • Vested in Building
  • Application
  • Project Plan
 On a quarterly basis of the grant period, with the assistance of the Economic Development Director

 

*Please Note: In order to qualify for a City of Casey Business Improvement Grant, a business must have an eligible project, be vested in its building and provide at least 50% in matching funds. 75% of the grant will be made available to the grantee upon grant approval and project commencement. The Committee will require quarterly progress updates which may include site visits. Upon the successful completion of the project, the remainder of the grant will be awarded to the grantee.

 

**In order to qualify for the City of Casey Utility Grant, a business must be a City utility customer current and in good standing with the City of Casey Utility Department, with an eligible business project. All grants will be applied directly to the business utility account for gas and/or electric. Grantees will still receive a monthly utility bill during the applied grant period for water, sewer and sanitation. 25% of the grant will be applied to the next month’s utility bill upon grant approval and project commencement. The Committee will require quarterly progress updates which may include site visits. Upon the successful completion of the project, the remainder of the grant will be applied to the utility bill.

 

The Committee reserves the right to revoke a grant if no project progress is seen at the first quarter, or after 90 days, whichever is longer. Applications will be reviewed by the Economic Development Committee and awarded on a first come/first serve basis. The City of Casey reserves the right to award a partial grant and to accept or reject any applications. If you have any questions, please contact the Economic Development Office at 217.932.4074, nweigand@mchsi.com or P.O. Box 425 in Casey.


Clark County Enterprise Zone

 

The Clark County Enterprise Zone was established on July I, 1990. An enterprise zone is a specific area designated by the State of Illinois in cooperation with a local government to receive various tax incentives and other benefits to stimulate economic activity. A business wanting to expand or locate within the Clark County Enterprise Zone could be eligible for local incentives including a sales tax exemption on building materials and a property tax abatement on the improvements.

 

Casey's Enterprise Zone covers much of the western portion of the community, including a significant portion of both sides of Central and several of our industrial areas. A map of the Enterprise Zone is available here: City of Casey Enterprise Zone Map.

 

Incentives that may be available to businesses building or doing renovation projects in the Enterprise Zone include the following:

  • Sales Tax Exemption on Building Materials - Building materials that are eligible for the enterprise zone sales tax exemption include items purchased in Illinois that are permanently affixed to real property such as lumber, mortar, glue-down carpets, paint, wallpaper and similar affixed items.
  • Property Tax Abatement - the abatement applies only to taxes on the increase in assessed value attributable to the new construction, renovation, or rehabilitation. Taxes based on the assessed value of land and existing improvements continue to be collected. The property tax abatement is approximately an 85% abatement on improvements (not all taxing bodies participate such as Fire District, Townships, Park District, etc.) for the first 5- year upon completion. In the 6th year owner pays 25%, 7th year owner pays 50%, 8th year owner pays 75% and the 9th year owner pays 100%.

Please note that the Enterprise Zone Administrator must approve all applications before a project begins in order to qualify for the incentives.

 

The Enterprise Zone application can be found here: Application and returned to Enterprise Zone Administrator Nancy Smitley in Marshall.

 


 

Press Release - Clark County Enterprise Zone - April 16, 2012

 

In these increasingly competitive and global times, it becomes ever more important that communities working to attract, expand and grow business from within are able to offer value and savings to companies.

 

Business incentives are one of the ways in which communities make themselves competitive in the market, in addition to facilitating strong financial industries, business services and a high quality of life.

 

Did you know that Clark County has a value-added program for businesses looking to make improvements to property?

 

The Clark County Enterprise Zone has been in place since 1990 and includes area in the following communities: Casey, Clark Center, Marshall, Martinsville, Westfield and West Union. The point of the Enterprise Zone is to stimulate economic growth in specific areas (chosen in conjunction with the State) by offering tax incentives to businesses which build or improve property therein.

 

This means that if a business locates or renovates a building in the Enterprise Zone, they could be eligible for incentives that would not be available anywhere else. These incentives are both related to taxes.

 

The first is a sales tax exemption on permanent building materials, including items that are affixed to real property such as lumber, mortar, glue-down carpets, paint, wallpaper and similarly attached items. This exemption is only available on items purchased in Illinois.

 

The second is a property tax abatement applied to taxes on the increased in assessed value which can be attributed to new construction, renovation or rehabilitation. The pre-existing property tax level is not affected, and taxes based on the assessed value of land continue to be collected, but the property tax abatement is approximately an 85% abatement on the improved value for the first 5 years upon completion. Afterwards the incentive is tiered: in the sixth year the owner pays 25%, in the seventh year the owner pays 50%, in the eighth year the owner pays 75%, and in the ninth year the incentive ends.

 

The idea behind these incentives is to jumpstart growth and give businesses investing in physical infrastructure assistance getting off the ground to create a strong foundation in our communities.

 

If you are interested in taking advantage of these incentives, the first step is finding out if your property or building is in the Enterprise Zone. Maps of the Zone for each community can be located at www.clarkcountyil.org under the Economic Development link, then Clark County Enterprise Zones. The application can be found there as well, a relatively simple two-page form about your project which is then returned to the Enterprise Zone Administrator. Applicants can expect to receive approval or a request for further information within one week. Please note that approval must be received before the project begins to qualify for incentives.

 

The Clark County Enterprise Zone has been of significant value in stimulating business activity over the last several years, with 7 projects since October 2011 alone, accounting for the creation and retention of over 200 jobs in Clark County in that time period. There is currently discussion in the Illinois legislature about whether or not to extend Enterprise Zones for an additional 25 years. These are the tools your communities use to create growth and level the playing field with other places. Incentives are invaluable resources that rural communities cannot afford to lose.

 

For more information on the Clark County Enterprise Zone, contact the Economic Development Office at (217) 932-4074 or nweigand@mchsi.com, or the Administrator of the Clark County Enterprise Zone, Nancy Smitley, at (217) 826-8087, or visit www.clarkcountyil.org.