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Wed November 16, 2005
Enterprise Zone Gets Expansion OK
Macomb, IL – The Macomb-McDonough County Enterprise Zone has received state permission to expand ... and it might have attracted its first new tenant. The zone is being expanded from about one to almost five square miles. It includes new territory in and around Bushnell and Colchester as well as more land in Macomb around the municipal airport. Bushnell Mayor Steve Russell says learning the enterprise zone would be available was a pivotal factor in attracting a new business to his town. He hopes to finalize the paperwork next week. Russell would not identify the business, but says it will create new jobs for the region. The zone offers tax benefits to new firms for up to ten years. Local taxing bodies agree to have the assessed valuation of their property in the zone frozen for up to ten years in the hope of higher tax receipts after that.