Tax & Operating Incentives
TAX INCENTIVES
Tax Increment Financing (TIF)
The City utilizes Tax Increment Financing (TIF) incentives for a variety of projects. This can be an extremely lucrative incentive program for the right project. Tax incentives include rebating of property taxes for up to 23 years for eligible costs.
TIF Boundaries click link
EDGE Tax Credit
Tax incentives may be available through the Economic Development for a Growing Economy Program (EDGE), in the form of tax credits against Illinois income tax liability up to a maximum of ten years. It is anticipated that tax incentives available under EDGE will represent a 100 percent tax credit to the company calculated from the personal income tax collected on salaries paid to the employees in the new jobs created by the project.
Illinois Replacement Tax Investment Credit Program
Firms in Illinois can receive an investment tax credit against Illinois Personal Property Replacement Income Tax for the purchase of qualified property, (including buildings and equipment) used in manufacturing, mining or retail businesses. The tax credit is equal to one-half of one percent (0.5 percent) of the adjusted basis of tangible new or used property with a useful life of four years or more.
An additional 0.5 percent tax credit is available for any year in which the firm's base employment increases by one percent or more over the preceding year. If the increased employment is less than one percent, the additional credit will be reduced proportionately.
Sales Tax Exemption Manufacturing Equipment
Illinois provides the following major exemptions from sales/use taxes: (1) manufacturing machinery, as well as replacement parts and computers used to control manufacturing machinery; (2) farm machinery; and (3) pollution control facilities-- any system, devices or appliance sold to prevent or reduce air and water pollution or pre-treat a potential pollutant. The purchaser must be able to establish through adequate records that the exempt machinery or equipment used at least 50% of the time in a manufacturing/assembling process.
Illinois Manufacturer’s Purchase Credit
Beginning September 1, 2004, qualifying manufacturers may earn a Manufacturer's Purchase Credit (MPC). The MPC is earned when a manufacturer purchases manufacturing or graphic arts machinery and equipment that qualifies for the existing sales/use tax exemptions. MPC may be used to pay state sales or use tax on future purchases of qualifying production-related tangible personal property.
All unused MPC expires the last day of the second calendar year following the year in which the original tax-exempt purchase was made. MPC may not be transferred to another party.
The MPC is equal to half of the 6.25% state tax that would have been owed if the purchase was not otherwise exempt.
Personal Property Tax
The State of Illinois does not tax personal property. As a result, a developer or company will not be required to pay any personal property tax to the State.
OPERATING INCENTIVES
Job Training
Administered by DCEO, the Employee Training Investment Program (ETIP) is a streamlined, cost-effective program to help Illinois workers keep their skills consistent with changing technologies and business processes. Businesses benefit through increased productivity, reduced costs, improved quality and competitiveness.
ETIP provides grants that can reimburse companies for up to 50 percent of the cost of training their employees. Employers may select the workers that will participate in the training. Instructors may be plant workers, public education employees, private consultants, or others who possess the required instructional expertise.
Recruitment Assistance Program
In addition to ETIP grant funds, DCEO and the City of Maroa can coordinate a company’s workforce development efforts through the County’s Employment and Training Department. The Department is conveniently located in nearby Litchfield, IL. Funded through the Federal Workforce Investment Act, Macoupin County Employment and Training provides free or low cost outreach, recruitment, assessment and additional job training assistance to new or existing employers. They can conduct job fairs and post ads in local newspapers to assist in the recruitment of skilled employees. Macoupin County works in cooperation with the DCEO to ensure that the company is provided a customized and coordinated action plan for filling its employment needs which maximizes all available state, local and federal job tax credits and training funds.
The Maroa United Methodist Church will be hosting “Food Truck Party” Vacation Bible School on July 18-22 in the evening.
Be watching for flyers, sign up sheets and lots of information in the next few weeks. This pr...
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The Maroa United Methodist Church will be hosting a Baccalaureate service on May 25 at 6:30 pm. Various Churches in the Maroa-Forsyth Communities will be participating.
All high school gradua...
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Significance of the National Day of Prayer
The National Day of Prayer has great significance for us as a nation as it enables us to recall and to teach the way in which our founding fathers sought the wisdom of God when faced with c...
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Parade starts at 11 am and will be the normal route. All entries for the parade are accepted. To get registered for the parade you may contact Blake West at 217-855-4392. There will be a trophy for the most patriotic dressed pers...
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Registration will be held at Maroa City Hall Gym on May 7th from 10 am until noon. Park activities will begin Tuesday May 30th through Friday July 15th. Hours are 9 am - noon and 1pm - 3 pm Monday through Friday. On Field trips o...
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