Three Incentives Approved by Cook County Board Designed to Spur Economic Growth

Today, Cook County Commissioners approved three 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 communities:  Dolton, Harvey and Lyle.

“The companies receiving these incentives, designated for either industrial or commercial use, have demonstrated their commitment to helping us grow vital communities with a focus on equity,”

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: WITS Real Estate Holding LLC, 1100 Maryland Avenue, Dolton
Property Use: Industrial
Description:  The applicant provides treatment and handling services for wastewater. This building will be their fleet garage and maintenance building.
Type of Incentive: Class 8

Applicant: Alga Investment LLC/ Manas Express Corp., 270 E 167th Street, Harvey
Property Use: Industrial use – Warehousing Logistics and truck repair
Description: The applicant will occupy the site as Mana Express Corp a related entity of Alga Investment LLC for warehousing distribution and truck repair.
Type of Incentive:  Class 8

Applicant: Main Financial LLC, 401-411 W. North Ave, NorthLake
Property Use:  Commercial, Auto dealership
Description: The applicant will lease the property to a related entity KNB Motors, Inc. an auto sales business.
Type of Incentive: Class 7c

For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment