Cook County Board Approves Three Tax Incentives Designed to Support Economic Growth
Cook County Commissioners today approved three 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: Calumet City, Elk Grove Village and McCook.
As a result of redevelopment activities, these incentives should support the creation of an estimated 16 new private sector full-time jobs, retain an estimated 66 full-time jobs and support 57 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: Midland Chicago Real Estate LLC, 1479 Regency Court,Calumet City
Type of Business: Real estate development for industrial manufacturing
Description: The applicant is expanding to the subject property, which it will occupy with a related entity, Midland Tool & Supply Co.
Type of Incentive: 8
Estimated: 6 full-time jobs created; 30 construction jobs supported
- Applicant Name: 165 N. Lively Blvd. Properties LLC, 165 N. Lively Blvd.,Elk Grove Village
Type of Business: Real estate development for industrial manufacturing
Description: The applicant will occupy the property with a related entity Haas Factory Outlet, used for warehousing and distribution of machine tools and parts.
Type of Incentive: Class 6b
Estimated: 5 jobs created; 45 full-time jobs retained; 15 construction jobs supported
- Applicant Name: JAARK Real Estate Development LLC, 8000 Joliet Road,McCook
Type of Business: Real estate development for industrial manufacturing
Project Description: The applicant is relocating and expanding from a smaller site to the subject property, which it will own and occupy with a related entity: Handling Systems Intl., Inc.
Type of Incentive: Class 6b
Estimated: 5 new full-time jobs created; 21 jobs retained; 12 construction jobs supported
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment.