Economic Development Incentives
The Department of Community Development and Zoning guides and supports economic development efforts in the Village of Franklin Park. The Department works to retain, expand and attract commercial and industrial businesses. The Director of Community Development and Zoning serves as staff liaison to the Economic Development Commission, which reviews all economic development related programs and incentives. These include tax incentives offered through the Cook County 6b Program.
Below are links to information about various business and economic development programs available in Cook County:
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. Qualified 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.
The Class 6b classification is designed to encourage industrial development throughout Cook County by offering a real estate tax incentive for the development of new industrial facilities, the rehabilitation of existing industrial structures, and the industrial reutilization of abandoned buildings. The goal of Class 6b is to attract new industry, stimulate expansion and retention of existing industry and increase employment opportunities.
Incentive benefits and eligibility requirements are outlined in the Cook County 6b Eligibility Bulletin.
For information regarding 6b tax incentive requirements for the Economic Development Commission and the Village of Franklin Park, please contact Eric Richard, Village Planner, at (847) 671-8278.