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Apr 17, 2014
Spring Clean Up Week

Apr 18, 2014
Spring Clean Up Week

Apr 21, 2014 6:30 PM
City Council Meeting

Apr 26, 2014 8:00 AM
Nancy Tragarz Annual Spring Clean-up

Apr 26, 2014 9:00 AM
Watertown Clean Up

May 04, 2014
Cinco De Mayo Celebration

May 05, 2014
Cinco De Mayo Celebration

May 05, 2014 6:30 PM
City Council Meeting

May 19, 2014 6:30 PM
City Council Meeting

May 26, 2014
City Offices Closed - Memorial Day

East Moline Financial Assistance

 East Moline Enterprise Zone
The Zone offers special state and local tax incentives and regulatory relief to encourage new and expanded business activity. The Zone is designed to revitalize East Moline's industrial base and create new jobs for East Moline and area residents. Tax Incentives and benefits are as follows:
    • All building permit fees are waived
    • All construction improvements (buildings) receive a five-year partial tax abatement on the City of East Moline's portion of your total property tax bill.
    • All building materials purchased within the State of Illinois and utilized in new construction within the Zone are exempt from all sales taxes.
    • Any business hiring a minimum of five economically disadvantaged or dislocated workers will receive a one-time $500 State Income tax credit per job created.
    • A 0.5% Illinois Income tax credit on all qualified property (buildings, elevators, tanks, boilers, machinery etc.)
    • Any business creating a minimum of 200 full time equivalent jobs receives a 5% Illinois Sales tax credit on all tangible personal property used or consumed in the process of manufacturing or assembly of tangible personal property for wholesale or retail sale of lease; or consumed in the operation of pollution control facilities.

Economic Development Loan Fund
The City of East Moline Economic Development Loan Fund offers low interest loans (3.5% below prime) on a five year term to qualified participants. ED Loan funds are available at a rate of $5,000 per full time job created by industrial businesses. Maximum loan amount is $100,000 per project. Loans may be subordinated to primary financing.

Downtown Special Service Area (SSA)
The SSA is a special taxing district setup by the downtown property owners, for use in façade improvement, marketing, and streetscape enhancement.  The SSA covers several blocks on 15th and 16th Avenues.  
SSA BROCHURE

Quad City Regional Finance Authority (QCREDA)
East Moline has access to low interest industrial bond financing through QCREDA. QCREDA bonds can potentially finance all of a qualified participant's construction project. If eligible, the project can be financed at a significantly lower interest rate than conventional bank financing.

Tax Increment Financing (TIF)
For certain larger projects where development would not normally occur under existing conditions, the City can pursue Tax Increment Financing (TIF) for assistance with public improvements, environmental conditions, and land acquisition.

Return to Main Economic Development Page

 

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