Incentives for Businesses and Development

The Urbana Economic Development Division administers several programs aimed at attracting new, and assisting existing businesses and commercial developments. These programs include economic incentives in the form of grants and redevelopment assistance, and are administered through our Tax Increment Finance Districts and Enterprise Zone and Philo Rd Business District.

Please contact the Economic Development Division at 217-384-2444 if you have any questions. Staff will assist you in reviewing the incentive programs to determine what is the best fit for your business or project.

Programs offering assistance to Urbana businesses

TIF and Philo Rd Business Development & Opening Grants ($1,000-$3,000)

TIF Redevelopment Incentives (Up to $25,000)

TIF Redevelopment Agreements (Negotiable)

Enterprise Zone Sales Tax Exemptions and Property Tax Abatements (Depending on project size)

 

Downtown Urbana

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Created on: Thursday, January 21, 2010 - 11:31
- Author - admin
- Contributors: BrandonBWillKElizabethH