City of Effingham issued the following announcement on Feb. 20.
The City of Effingham recently hosted its first Enterprise Zone Summit. The focus of the first Summit was on informing business located in Effingham County on the benefits of doing a project in the Enterprise Zone. Items that were discussed included the current Zone boundaries, the process of annexing property into the Zone, incentives offered by the Zone, how to apply for Zone benefits, and reporting on incentives received. A summary of 2018, the first year of the new Zone, was also discussed. During 2018 there were 26 projects in the Effingham Enterprise Zone with over $25 million invested and 105 new jobs created.
The Enterprise Zone Summit is part of a multi-year marketing plan that was included in the Enterprise Zone Application in 2016. Over the next few years, the City will hold additional Summits by inviting businesses from outside of the Zone along with neighboring counties and throughout Illinois. The intent of the Summits will be to generate interest in locating in the Effingham Enterprise Zone. Other goals of the marketing plan include attracting $10 million of investment per year for the next three years along with the creation of 100 jobs per year.
The City of Effingham was awarded a new Enterprise Zone on January 1, 2018. The Effingham Enterprise Zone has an initial life of 15 years, with the possibility of a 10-year extension. The original Enterprise Zone was in effect from 1988 to 2017 and resulted in over 475 projects, $700 million in investment, 4,000 new jobs and 2,500 jobs retained.
Original source can be found here.
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