Scott County Development Corporation, NFP Revolving Loan Fund
Provides gap financing and seed money for existing Scott County businesses, as well as, any company wanting to locate in the county. The RLF program was established in 1964 through local investments.
Tri-County Community Development Corporation
One of six CDC’s formed as part of the U.S. Department of Commerce & Economic Development Administration pilot program in December 1988 The Tri-County CDC was organized to provide gap financing and seed capital loans to retain and create employment in Morgan, Cass, and Scott counties. It is a for-profit corporation consisting of investors from 12 regional banks, the city of Jacksonville, the Jacksonville Area Chamber of Commerce, and Illinois Rural Electric Cooperative.
Local Real Estate Tax Abatement
Scott County Development Corporation will facilitate the process of negotiating real estate tax abatements at the county level. This is available to projects that create a certain number of jobs. It is important to notify SCDC of your desire to seek abatement before you begin work on your project.
SCDC has extended the WIEDA Enterprise Zone into Scott County. Those businesses located in the zone can benefit from the following incentives: 1) Tax Abatement; 2) Sales Tax Exemption on Building Materials; 3) Investment Tax Credit.
Tax Increment Financing District
Winchester recently developed a TIF District (2013). Developers may work with the City of to take advantage of property tax abatement for their project. The map of the district is shown here.