UIRVDA issues low-cost bond financing for capital improvements that greatly reduce the interest rate for economic development projects. UIRVDA can also assist your business explore enterprise zone opportunities.
The Regional Development Authorities (RDAs) were established beginning in 1990 as a government entity to ensure economic development resources were made accessible to all portions of Illinois regardless of location. Today, ten RDAs serve 91 of the 102 counties in Illinois. More specifically, UIRVDA is dedicated to the growth of the economy in the counties listed above.
UIRVDA hosts a diverse economy. From agribusiness, advanced manufacturing, aggregate mining, warehouse distribution to the increased presence of the bio-pharmaceutical, healthcare, and medical supply sectors, the UIRVDA region is a major driver of the Illinois economy. Movement of products and goods are made possible by a vast transportation and logistics network of Interstate Highways and the Illinois and Fox Rivers.
Listed below are some of the most commonly utilized.
DOUBLE TAX-EXEMPT status to a manufacturing company to finance the acquisition of fixed assets including land, buildings, machinery, and equipment.
DOUBLE TAX-EXEMPT status to a Developer, private for-profit or not-for-profit to finance low-income or senior housing projects.
DOUBLE TAX-EXEMPT status on to a NFP 501(c) (3) company to finance the acquisition of fixed assets including land, buildings, machinery and equipment.
Companies making an investment and creating jobs are eligible for sales tax exemptions on building
materials and an investment tax credit.
Incentives offered by the Illinois RDA are in their own class. You will not find the options and services anywhere else throughout the state. Allow one of our team members to assist you through the process today.
