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, designed to promote economic growth, were approved in the following municipalities: Des Plaines, Evanston, Mount Prospect and Schaumburg.
"The companies receiving these incentives, designated for either industrial or commercial use, have demonstrated their commitment to helping us grow vital communities.” Preckwinkle said. "Our tax incentive tools are used to either keep or expand businesses in Cook County."
Details on the incentives follow, listed by municipality:
Applicant Name: VK Acquisitions IV, 31 East Oakton Street, Des Plaines
Property Use: Industrial
Description: Applicant is purchasing and rehabilitating subject property for lease to an industrial user for a warehousing/distribution operation.
Type of Incentive: Class 6b
Applicant Name: Oxcart, LLC, 1729-1733 Central Street, Evanston
Property Use: Manufacturing and Distribution
Description: The applicant plans on leasing the Building to a related entity, HEWN Bakery to produce and distribute its organic proprietary baked goods.
Type of Incentive: 6b
Applicant Name: CEK Tile, 1911 South Busse Road, Mount Prospect
Property Use: Warehouse and Distribution
Description: Applicant intends to purchase and substantially rehab the subject property for the relocation and expansion of its related entity, C. E. Korsgard Company.
Type of Incentive: Class 6b
Applicant Name: 500 North Wells, LLC, 201 E. Commerce Drive, Schaumburg
Property Use: Warehouse and Distribution
Description: The applicant plans to occupy the property as Pulse Technology Illinois a related entity for warehousing and distribution of video displays, office furniture, copiers and printers and other products and supplies related to remanufacturing and repairing office equipment.
Type of Incentive: Class 6b
Applicant Name: Morse Avenue LLC, 811 Morse Avenue, Schaumburg
Property Use: Warehouse and Distribution
Description: Applicant is expanding to the subject property, which will be occupied with a related entity, Perfection Flooring, Inc. Perfection Flooring Inc. was established in 2014 and is a wholesale flooring business. The business will continue to operate out of the previous locations, as well as make the subject property the main operating location.
Type of Incentive: Class 6b
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment