Economic Deveoplment
Regional Economic Development Incentives and Programs
The Greater Rockford Region has access to a wide range of state, county, and local incentive programs available to support your business in expanding, locating here, or maintaining revenue growth. From tax credits to grants and low-interest loans, these resources are designed to help your business grow, create jobs, and thrive in our community.
State of Illinois Incentives - Illinois Department of Commerce and Economic Opportunity (DCEO):
The Illinois DCEO provides a variety of financial and non-financial assistance programs to encourage investment, job creation, and business expansion.
- Economic Development for a Growing Economy (EDGE) Program
Offers tax credits equal to 50% of new full-time employees’ payroll withholding for companies making qualifying investments and creating jobs. In underserved areas, the credit increases to 75%. - Reimagining Energy and Vehicles (REV) Act
Incentives for manufacturers in electric vehicles, renewable energy, and associated industries, including payroll tax retention, utility exemptions, and training grants. - Enterprise Zones (EZ)
Provides sales tax exemptions on building materials, utility tax exemptions, and investment tax credits to encourage growth in designated areas. - High Impact Business (HIB) Designation
Offers benefits similar to Enterprise Zones for companies making significant investments and creating or retaining jobs. - Workforce Training Programs
Federally funded programs for employer-based training, apprenticeships, and recruitment services to up-skill your workforce.
City of Rockford Incentives:
The City of Rockford offers a range of programs to support local businesses and attract new investments.
- Rockford Enterprise Zones
The Illinois Enterprise Zone Program assists in the revitalization of distressed areas by offering financial and tax incentives to stimulate business growth and neighborhood improvement. The City of Rockford has two enterprises zones- Rockford EZ One and I-90 Enterprise Zone. Businesses located in an enterprise zones are eligible for state and local incentives. - Rockford Commercial Corridor Revitalization Program
Offers grants to improve commercial properties in targeted areas of the city. - Rockford Brownfields Redevelopment Program
Provides resources for environmental cleanup and redevelopment of underutilized or contaminated properties. - Tax Increment Financing (TIF) Districts
Allows incremental property tax revenues from new developments to be reinvested in public infrastructure or other development-related costs.
Loves Park / Machesney Park Incentives
Businesses in the Loves Park and Machesney Park areas can benefit from targeted incentives to drive economic development.
- Loves Park-Machesney Park Enterprise Zone
The Loves Park-Machesney Park Enterprise Zone provides new and existing businesses with a variety of incentives to promote job creation and business development. Provides sales tax exemptions on building materials, property tax abatement, and other benefits to encourage investment and job creation. - Loves Park TIF Districts
Supports redevelopment projects by reinvesting incremental property tax revenue into the project area.
Winnebago County Incentives
County-wide programs offer additional support for businesses looking to expand or locate within Winnebago County.
- Winnebago County Host-Fee Loan Program
Provides low-interest loans to support projects that create jobs or encourage investment. Eligible expenses include equipment, facility improvements, and working capital. - C-PACE Financing
Offers long-term financing for energy-efficient and renewable energy improvements through property tax assessments. - Foreign Trade Zone #176
Businesses within the FTZ can import goods duty-free until they enter the U.S. market, reducing costs for manufacturing and distribution.
Relentlessly Growing a Thriving Business Community
Contact the Greater Rockford Chamber of Commerce Economic Development Team today to learn how we can support your business success.
Contact Information:
Button to: “Schedule a BRE Visit” or “Connect with a Business Development Manager”