Economic Development Incentives
Coles Together will work with a variety of funding sources to put together a financing package that will make your project a winner. We will provide assistance securing local, state, and federal grants and loans. Coles County has several local fund sources, including revolving loan funds (RLFs), access to federal grant opportunities, Tax Increment Financing, and others that are aggressively used to enhance your bottom line and make Coles County a financially competitive location for your growing business.
Coles Together Enterprise Zone
As administrator of the state-designated enterprise zone within Coles County, Coles Together assists in the processing of sales tax exemptions, deductions, property tax abatements, and tax credits. Incentives include, but are not limited to, tax credits for investment that takes place within the enterprise zone, job tax credits, local building permit fee waivers, utility tax exemptions, and many additional tax credits and exemptions.
Coles Together has assisted many existing and new business access funding sources needed to train employees. Recognizing that technology and the ever-changing workplace require employers to invest significant dollars training their workforce, economic development, education and workforce leaders in Coles County have worked together to ensure that existing and new businesses have access to customized training in computer software and technical manufacturing, which includes process and quality improvement and process picture mapping services. Both the Business and Technology Institute at Eastern Illinois University in Charleston www.eiu.edu/~bti and the Center for Business and Industry at Lake Land College in Mattoon www.lakelandcollege.edu/cbi provide customized training solutions and expert consulting services to take your operation to the next level of efficiency and productivity. Both institutions, as well as Coles Together, have access to financial resources to offset the costs of these activities.