Events

The Illinois Department of Commerce and Economic Opportunity awarded the City of Effingham a new Enterprise Zone on January 1, 2018 but many are still not aware of the benefits, how to apply, or what the incentives are.

If you are thinking of building or doing a 50K plus remodel of a single family home, multi family unit, or commercial building in Effingham and want to get tax abetments by taking advantage of the Effingham Enterprise Zone, attending this informative seminar is a must.

Elizabeth Yager Designs and the City of Effingham are hosting this seminar on Thursday, March 14 from 5:30p – 7p where:

• Sasha Althoff from the city will attend and present about the process.
• We will also have some of the local land developers presenting on their new subdivisions with land for sale.
• EYD will be there to tell you about our business model as being a one stop shop to assist you with building your home.
• We will also have a Q and A at the end.
• Snacks & beverages will be provided

Effingham’s Enterprise Zone offers the following incentives:

• Property Tax Abatements
  • Three years for commercial projects
  • Three years for new construction of multi-family housing
  • Five years for new construction of single family homes
  • Seven years for industrial projects
  • Property located in one of Effingham’s TIF Districts does not qualify for the property tax abatement.
• Sales Tax Exemption on Building Materials
  • Full exemption of sales tax on building materials incorporated into real property for:
    • Industrial and commercial projects
    • Construction of single-family and multi-family homes
    • Residential rehabilitation projects with a project cost of $50,000 or more
    • State incentives
    • Investment Tax Credit
    • State incentives structured for large projects of $5 million and 200 jobs created or $40 million and 2,000 jobs retained.
    • Machinery and equipment sales tax exemption
    • Utility tax exemption Investment tax credit

Link to find out where the current approved zones are, click here.

If you are interested in seeing if land can be annexed into the zone, RSVP by private messaging or calling the Elizabeth Yager Designs Facebook Page. We anticipate that we will fill up fast so get your RSVP in as soon as you know that you can attend.

Follow our Facebook Event Page for updated details.