The City of Zion has an economic commitment to:
- Encourage existing businesses and industry to expand,
- Assist new business start-ups,
- Recruit new companies from out-of-state and internationally,
- Encourage manufacturing and industrial based-businesses,
- Encourage training and development of Zion area employees, and,
- Encourage the location and retention of businesses which are good “corporate citizens” that will add to the quality of life in Zion through their leadership and support of local civic and philanthropic organizations.
Need – Based Analysis Model
The City, in determining whether certain incentives should be granted; shall conduct a need-based analysis, which will consider various factors including, but not limited to, the following:
- The increase in appraised valuation of the property,
- The sales and income tax revenue which may result,
- The number of new jobs, the earnings and the benefits that will be provided;
- Additional jobs created through secondary or “multiplier” effects, as well as the associated tax revenues from these jobs and residents,
In addition to the results of the need-based analysis, the following factors may also be considered:
- The degree to which the business improves the diversification of the economy,
- The degree to which the ultimate market for the business products and services is outside the community, recognizing that outside markets bring “new money” to the local economy,
- The potential of the business for future expansion and additional job creation,
- The beneficial impacts the business may have by creating other new jobs and businesses,
- The compatibility of the location of the business with land use and development plans of the City and the availability of existing infrastructure facilities and essential public services.
- Municipal Sales Tax Rebate
- Property Tax Abatement
Tax Increment Financing (TIF) Districts – The city has established TIF districts to promote business growth throughout the city. For a list of members of the City of Zion TIF Review Board, go to the “Committees and Advisory Boards” page in the Community section.
- TIF APPLICATION (PDF)
- TIF 3 – South Sheridan Boundary Map
- TIF 4 – South Sheridan Boundary Map
- TIF 5 – South Sheridan Boundary Map
- TIF 6 – South Sheridan Boundary Map
- TIF 7 – South Sheridan Boundary Map
- Lake County Partners – The City of Zion considers this economic development arm a valuable resource to help navigate through the abundant incentive packages offered through state and federal programs. Incentive packages through Lake County Partners includes, but not limited to:
- Large Business Development Program – Low interest loans and grants up to 25 percent of the qualifying project amount.
- Business Development Public Infrastructure Program – Low interest financing to local governments for public improvements (water, wastewater extensions).
- Illinois Department of Transportation – Financial Assistance for necessary access improvements. One hundred percent financing on state highways. Fifty percent financing for local or municipal streets, municipality matches state funds.
- Job Recruitment Training Assistance – Up to 50 percent of the cost of employee training. Screening and recruitment at no cost to company.
- EGDE Tax Credit – Tax credits against Illinois income tax liability up to a maximum of ten years. Calculated from personal income tax collected against salaries paid to employees in new jobs created at the project.
- Training Expense Credit – Elective state income tax credit calculated as 1.6 percent of the costs employers incur in training their new employees.
- Work Opportunity Tax Credit – Credit for new employees who have received public aid for the past 18 months.
- Manufacturer’s Purchase Credit – Credit to apply against Illinois sales tax liability for purchase of manufacturing equipment.
- Research and Development Tax Credit – Illinois income tax credit of 6.5 percent for research activities.
- Lake County Brownfield Grant Program – Working with the Illinois EPA and the Lake County Brownfield Grant Program the city has been able to obtain funds to reimburse property owners for the cost of remediating contaminated sites for new developments.
Hotel Motel Tax Grant – The City of Zion Hotel/Motel Tourism Grant Program was established to improve the quality of life for residents and visitors. The funding for this program is generated from a local tax applied to overnight stays at hotels within the City of Zion as outlined in Section 86 of the Zion Municipal Code. These funds are invested back in the community through designated projects; activities and events that enhance visitor appeal and encourage overnight stays. DOWNLOAD APPLICATION (.pdf)
Planning and Economic Development
The City of Zion
2828 Sheridan Road
Zion, IL 60099
Phone: (847) 746-4056
Fax: (847) 746-4017
Monday – Friday
8:00 A.M. – 5:00 P.M.