EFFINGHAM ENTERPRISE ZONE

The Effingham Enterprise Zone was established in April, 1988, and has a life span of 30 years. Projects located within the zone boundaries are eligible for all zone benefits. Effingham's Enterprise Zone offers the following incentives.

• Property Tax Abatement - 100% abatement on the increase to the base amount. (3 years for commercial projects and ten years for industrial projects)
• Sales Tax Exemption on Building Materials - Full exemption (6.5%) on building materials incorporated into real property.
• Building Permit Fees Waived - All building, electrical, and plumbing fees are waived for Enterprise Zone projects.
• Investment Tax Credit - .5% credit is available for qualified property.
• Jobs Tax Credit - $500 tax credit for each job created for which certified "economically disadvantaged" or "dislocated worker" is hired. A minimum of five workers must be hired to be eligible for credit.
• Interest Deduction - Financial institutions are not taxed on the interest received on loans for Enterprise Zone projects.
• Dividend Income Deduction - Individuals, corporations, trusts, and estates are not taxed on dividend income from companies doing substantially all their business within the Enterprise Zone.
• Machinery and Equipment Sales Tax Exemption, Pollution Control Equipment Sales Tax Exemption, and Utility Tax Exemption - These are state incentives structured for large projects of $5 million and 200 jobs created or $40 million and 2,000 jobs retained.

For more information on the Effingham Enterprise Zone, contact Todd Hull, Economic Development Director at (217) 342-5304.

Enterprise Zone Map