Economic Development
The combination of location, available buildings and sites, utility costs, transportation options, government incentives and our quality of life make Jerseyville, Illinois the perfect pace to do business.
A growing community like Jerseyville delivers a business-friendly environment to those looking to grow an existing business and those looking for a new business home.
As home to the future business park, Jerseyville is expected to see significant growth, making us the place to be in the St. Louis Metropolitan Area.
Jeff Soer
Director of Economic Development
TIF Districts in Jerseyville
The City of Jerseyville currently has three tax increment financing (TIF) Districts. Tax increment financing is a development tool designed to help finance certain eligible improvements to property in designated redevelopment areas (TIF districts) by utilizing the new, or incremental, tax revenues generated by the project after completion.
For more information on each TIF District, please select a link below.
Upon the creation of a TIF District, the current property values within that district become a base value from which it cannot decrease. Any projects or improvements that cause an increase in value over that base would create an increment in value, and the incremental tax revenues from that increment in value are paid to a “special allocation fund”.
The proceeds of the fund are then used to reimburse the developer for eligible project costs or to retire indebtedness incurred to cover those costs. Eligible project costs are the total of all reasonable or necessary costs incurred or estimated to be incurred and any costs incidental to a redevelopment plan or project. Specifically, these costs include, but are not limited to: Costs of studies, surveys and plans; Professional service costs (architectural, engineering, legal, financial, etc.); Property assembly costs (acquisition, demolition, clearing and grading); Costs of rehabilitating, reconstructing, remodeling of existing structures;Costs of construction of public works; Financing costs, including issuance interest and reserves.
Jersey-Greene Intermodal Enterprise Zone
Thank you for your interest in the Jersey-Greene County Intermodal Enterprise Zone.
The zone was created on October 16, 2017, expiring on December 31, 2032.
The purpose of the Enterprise Zone is to promote economic growth, encourage economic development, create & retain jobs and reduce unemployment in the area.