Economic Profile
Economic Development in the Village of Harristown is a key ingredient leading to the success of our village today. Helping local business and outside companies looking to relocate to the Village of Harristown through various incentive plans, tax abatements, and resources, with the overall goal of enhancing the Village of Harristown through the promotion of economic growth.
Tax Increment Financing (TIF)
Illinois law allows units of local governments to designate areas within their jurisdiction as Tax Increment Financing (TIF) districts. These districts dedicate sales tax revenues and additional property tax revenues generated within the TIF for improvements within the district to encourage new economic development and job creation. Funds may be used for costs associated with the development or redevelopment of property within the TIF, allowing blighted, declining and underperforming areas to again become viable, and allowing these areas to compete with vacant land at the edge of urban areas.
Projects in TIF districts typically include:
- Redevelopment of substandard, obsolete, or vacant buildings
- Financing public infrastructure improvements, including streets, sewer, water, in declining areas
- Cleaning up polluted areas
- Improving the viability of downtown business districts; rehabilitating historic properties
- Providing infrastructure needed to develop a site for new industrial or commercial use
Visit these sites for additional TIF information:
How can you help out? Shop local and buy local! It is amazing how it will sustain a community.
