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Chicago-Cook County: A Global Marketplace for
Industrial Machinery Manufacturers
Chicago-Cook County is a global marketplace for today’s successful manufacturers. The Chicago-Cook County region is in the heart of the midwest market and offers quick access to U.S. and worldwide markets. The Chicago region’s excellent quality of life lets companies attract and retain high quality managers and seasoned workers. World class universities and research labs offer the expertise and resources to compete globally.
More than 16,000 manufacturers, employing 650,000 workers, are located in the Chicago metro area. Industrial machinery and equipment manufacturers employ 80,000 of these workers and metal fabricators employ 75,000. While many large industrial companies, such as the Marmon Group, FMC and Navistar call Chicago home, small and mid-sized manufacturers with fewer than 500 employees make up 98 percent of the area’s manufacturers.|
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Resources for Business Expansion
Tax Incentives
Cook County‘s Industrial Property Tax Incentive can give your company a 50% reduction in its property tax bill for a 10 year period. New construction, expansion, rehabilitation and reuse of vacant facilities, including warehousing and distribution facilities, are eligible for the incentive. More than 600 companies have received the incentive since 1980. Call the Cook County Department of Planning at 312.603.1070.
Enterprise and Empowerment Zone Tax Incentives: A variety of tax incentives are available to companies that locate or expand in these zones. For zone maps and information call the Cook County Department of Planning at 312.603.1070 or the City of Chicago at 312.744.4190.|
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Financing
Industrial Revenue Bonds: IRBs offer below market financing for industrial projects. Municipal, county or state agencies can issue bonds. Call the Illinois Development Finance Authority at 312.793.5586, the Cook County Department of Planning at 312.603.1070 or the City of Chicago at 312.744.4190.|
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- Illinois Direct Loan Program. Call 312.793.5586.
- Illinois Participation Loan Program. Call 312.814.2308.
- City of Chicago Industrial Retention & Expansion Loan. Call 312.744.4190.
- City of Chicago Co-Venture & Entrepreneurial Equity Program. Call 312.744.6300.
- Cook County Revolving Loan Fund: Suburban Cook County business can borrow up to $350,000. Interest rate is half of the prime rate with no points or fees. Call 312.603.1070.
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Reduced Electricity Rates
ComEd Rider 19|
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- Available to new or expanding manufacturing companies in northern Illinois
- Companies must increase their electric consumption
- Companies are or will be receiving assistance associated with their relocation or expansion project from federal, state or local governments
- Discounts of 40 to 60 percent on the demand charge for new electrical load
- Expected demand must be at least 100 kilowatts in 9 months of each contract year
- Discounted rates are for a maximum of 3 years
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ComEd Energy Renewal Zones
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- Eligibility criteria are the same as for Rider 19 EXCEPT government assistance is not required
- Additional 15 percent discount on charges for increased kilowatt demand
- Effective for 10 years from the effective date of the Rider 19 contract
- Sixteen of the 23 zones are located in the City of Chicago and suburban Cook County
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To take advantage of these discounts, call ComEd’s Economic Development Department at 312.394.3037.
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Site Selection
Northern Illinois – ComED 312.394.3037
Cook County 312.603.1070
City of Chicago 312.744.8570
The Ravenswood Industrial Corridor on Chicago’s north side offers unique opportunities for manufacturers to take advantage of the convenience, high quality work force and pleasant surroundings of one of Chicago’s finest neighborhoods. Jane Addams Resource Corporation (JARC) can help you locate prime space in this area, ranging from a few thousand to over 100,000 square feet. In addition to traditional manufacturing space, the area contains many buildings offering space that is especially suitable for small, high tech operations. JARC can also put you in touch with other organizations that offer site assistance in other parts of Chicago and Cook County.
Call Chuck Hadley or Mike Cevasco of JARC at 773.728.9769. Also ask about other programs to assist your business in Chicago, such as facade rebates, energy retrofits, and development assistance.|
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Additional Business Resources
City of Chicago|
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- Business Express 312.744.CITY
- Business Infrastructure Assistance Program 312.744.4190
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- Business Development Public Infrastructure Program 217.785.6193
- Modernization Assessment Grant Program 217.785.9392
- Technology Challenge Grant Program 312.814.2337
- Illinois Labor Market Information 312.793.9223
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Jane Addams Resource Center 773.728.9769
Prairie State 2000 Authority 312.814.2700
Illinois Industrial Training Grants 217.785.6003
Cook County President’s Office of Employment Training 312.201.3100
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