COOK COUNTY: Cook County Board Approves Two Tax Incentives Designed to Support Economic Growth
Cook County issued the following announcement on Jan. 24.
The Cook County Board of Commissioners today approved two proposals from President Toni Preckwinkle’s Bureau of Economic Development (BED) that will provide tax incentives to businesses in Cook County.
The incentives, which will either create new or save existing jobs, were approved in the following communities: Elk Grove Village and Mount Prospect.
As a result of redevelopment activities, these incentives should support the creation of an estimated 20 new private sector full-time jobs, retain an estimated 40 full-time jobs and support 20 construction jobs.
“The companies receiving these incentives have demonstrated their commitment to our communities and residents,” Preckwinkle said. "I’m pleased that we are able to use our tax incentive tools to either keep or expand businesses in Cook County.”
Details on the incentives follow, listed by municipality:
Applicant Name: Criss Circle, LLC, 365 Criss Circle, Elk Grove Village
Type of Business: Real estate development for manufacturing and warehousing.
Description: The applicant plans to lease the subject property for manufacturing, warehousing, and distribution of flat and enclosable polybags, various food service bags and corrugated boxes.
Type of Incentive: 6b
Estimated: 10 full time jobs created; 20 full time jobs retained; 10 construction jobs supported.
Applicant Name: J2M900, LLC, 908 Business Center Drive, Mount Prospect
Type of Business: Real estate development for industrial manufacturing.
Description: The applicant plans to lease the subject property for manufacturing of custom and specialty rubber.
Type of Incentive: Class 6b TEERM (Temporary Emergency Economic Recovery Modification)
Estimated: 10 jobs created; 20 full time jobs retained; 10 construction jobs supported.
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to cookcountyil.gov/economicdevelopment
Original source can be found here.