Cook County Board Approves Five Tax Incentives Designed to Support Economic Growth
Cook County Commissioners today approved five proposals from President Toni Preckwinkle’s Bureau of Economic Development (BED) that will provide tax incentives to businesses in Cook County.
The incentives, which will either create new or save existing jobs, were approved in the following communities: Calumet City, Elk Grove Village, Posen, Wheeling and Willow Springs.
As a result of redevelopment activities, these incentives should support the creation of an estimated 63 new private sector full-time jobs, retain an estimated 71 full-time jobs and support 101 construction jobs.
“The companies receiving these incentives have demonstrated their commitment to our communities and residents,” Preckwinkle said. "I’m pleased that we are able to use our tax incentive tools to either keep or expand businesses in Cook County.”
Details on the incentives follow, listed by municipality:
- Business Name: WRD Calumet City, LLC, 1370 Torrence Ave., Calumet City
Type of Business: Leasing company
Description: The Applicant has leased the property to Bob's Discount Furniture.
Type of Incentive: Class 8
Estimated: 50 jobs created; 20 construction jobs
- Business Name: Glass Properties, Inc., 200 N. Lively Blvd., Elk Grove Village
Type of Business: Manufacturing
Description: Applicant is expanding and moving its entire operation to the new facility.
Type of Incentive: Class 6b
Estimated: 5 jobs created; 50 retained; 20 construction jobs
- Business Name: Posen Industrial LLC, 14800 McKinley Ave., Posen
Type of Business: Industrial leasing
Description: Applicant intends to lease a portion of the property to an unrelated entity for alcohol distilling and the other half to a tenant for industrial use, light manufacturing, packaging and distribution.
Type of Incentive: Class 6b
Estimated: 10 jobs retained; 5 construction jobs
- Business Name: Senju America, Inc., 1200 South Wolf Road, Wheeling
Type of Business: Manufacturing and distribution
Description: The Applicant intends to occupy 15,260 square feet of the property for manufacturing and distribution of solder powder used in the assembly of parts for the automotive and electronic industries. A related industry, Senju Comtek Corp. will occupy 6,540 square feet of the site to manufacture solder powder into solder paste, also used in the electronics and automotive industries.
Type of Incentive: Class 6b
Estimated: 8 jobs created; 20 construction jobs
- Business Name: 8300 Wolf Road LLC., 8300 Wolf Road, Willow Springs
Type of Business: Real Estate – Sports Facility
Description: After receiving the initial incentive, the Applicant has substantially rehabilitated the subject property d/b/a Score Athletic Academy, a sports facility consisting of a fitness center, which includes a basketball and volleyball court, exercise room, weight room, locker rooms and a restaurant.
Type of Incentive: Class 7c – Renewal Tax Incentive
Estimated: 11 jobs retained; 36 construction jobs recorded
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment.
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