State Grants Vandalia/Fayette County New Enterprise Zone


Published on October 11 2018 9:24 am
Last Updated on October 11 2018 9:25 am
Written by Greg Sapp

The Illinois Department of Commerce and Economic Opportunity has certified four Enterprise Zones, including one in the area. The Enterprise Zone Board evaluated applications submitted by interested parties and made their final recommendations at a meeting in September.

Enterprise Zone designations, effective January 1, 2019, were awarded to: Vandalia/Fayette County, Quad Cities, Kewanee/Henry County, and Carmi/White County/Edwards County.

Enterprise Zones are designed to encourage job growth and investment in economically-depressed areas. Companies and organizations within a zone may qualify for various tax incentives like sales tax exemptions on qualified building materials, utility tax exemptions, and various local incentives. Each zone is administered by a local official under rules established by the State.

Effingham/Effingham County received a new Enterprise Zone in 2017.

Once designated, an Enterprise Zone maintains its designation for 15 years. The Enterprise Zone Board will review the zone after 13 years to determine a possible 10-year extension of the designation.