DCEO Certifies Franklin Park Enterprise Zone January 1, 2016
The Illinois Department of Commerce and Economic Opportunity (DCEO) certified that the Franklin Park Enterprise Zone will be in effect for 15 years starting January 1st of 2016. The Village applied for designation of an enterprise zone for its commercial and industrial properties, which account for 50% of the Village’s land use. The designation makes several significant incentives available to qualified properties in the Village. Most notable of these is a State sales tax exemption of 6.25% on building materials to be used in the enterprise zone.
The Franklin Park Enterprise Zone will encourage commercial and industrial development and redevelopment in the Village. Qualifying commercial and industrial properties are displayed in the Illinois Department of Revenue's Franklin Park Enterprise Zone Map. Contact the Department of Community Development and Zoning at (847) 671-8276 to learn more and to obtain an application for project designation.