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. 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 7 years for industrial projects). Property located in one of Effingham's TIF Districts does not qualify for the property tax abatement.
- Sales Tax Exemption on Building Materials - Full exemption (6.5%) on building materials incorporated into real property.
- 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 Sasha Althoff, Economic Development Specialist at (217) 342-5300.