Local & Regional Incentives

• Revolving Loan Fund (RLF): Bi-State Regional Commission administers a revolving loan fund for assisting the expansion and retention of existing businesses, as well as the attraction of new businessThe (RLF) Program provides gap financing for business startups or expansions that create or retain jobs. It is open to businesses in Rock Island (IL) and Scott (IA) Counties and assists businesses primarily related to industry, light manufacturing and service industry. The program is tied to job creation/retention with loan terms of $7,500 per job (additional dollars per job may be considered with high paying job offering generous benefit packages). A 10% equity injection by the owner along with a personal guaranty. Interest rate as low as 4% below prime with a minimum of 4% allowed and a term not to exceed 10 years. Total dollars loaned to date are $8.2 million for 90 transactions creating over 2,800 jobs.
• Tax Increment Financing:  A program available to assist with developing new properties by rebating a percentage of increased property taxes for a set number of years. The programs range from 60% for 7 years to 100% for 15 years for qualifying expenses.

• Enterprise Zones: Tax credit up to 100% of the value added to rehabilitated property for up to 10 years in enterprise zones
• Industrial Property Tax Exemption (IPTE): Property tax exemption that is applied to new assessed value resulting from new industrial construction or expansion of an existing facility.The average savings is 45% over the first five years of taxes resulting from the improvements, broken down by the following percentages: