Financial Incentives

In this section you’ll learn about all the incentives in the Clinton Region, that provide companies a competitive advantage. These incentives might include Tax Increment Financing (TIF) in either state or the Enterprise Zone Program in Illinois

For more information on these and other programs, please email Jenelle Kreiling at jkreiling@clintondevelopment.com. Also, see the attachments located at the bottom of this page for detailed information on these financial programs.

In this bi-state community, we work with localities and states on each side of the river to help new and local companies thrive in our region. Each city and town each have their own incentives tools which are leveraged to increase productivity and job creation.

Illinois has several financial incentives to help companies locate in the state.

  • The Economic Development for a Growing Economy Tax Credit Program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another State.  
  • The Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state. 
  • Small Business Job Creation Tax Credit is available to small business owners and not for profits to provide tax credits for job creation at Illinois small business.

Iowa also provides incentives to help local and new companies prosper.

  • The High Quality Jobs Program provides qualifying businesses tax credits to off-set the cost incurred to locate, expand or modernize an Iowa facility.
  • The Innovation Fund Tax Credit program was created to stimulate venture capital investment in innovative Iowa businesses. Individual investors can receive tax credits equal to 25 percent of an equity investment in a certified Innovation Fund.
  • The Economic Development Set Aside Program provides assistance to businesses that plan to make a capital investment and create and/or retain quality employment opportunities for individuals of low- or moderate-income status.
  • R&D Tax Credit is used by companies in various industries, including manufacturing and technology, that can benefit from the credit if they develop new or improved products, manufacturing processes, software applications for sale to customers.