Economic Developer Choosing Tools
Carthage, IL – Hancock County's new economic development educator is refining the tools he'll be able to use. Charles Bair says the State of Illinois is not allowing new enterprize zones at this time. However, the Tax Increment Financing, or TIF District, does offer possibilities. Bair says planners would have to show that the district is needed to bring business to a depressed area. However, he says with the current Hancock County economy, it should be possible for parts of several municipalities in the county to quallify for the TIF Districts. Bair says they offer incentives both to new and existing businesses and can help bolster infrastructure.