Streator - is 'A Quiet Surprise on the Prairie'
A Great Small City in which to Live, Work and Invest!
Economic Development is a joint service provided by the Administrative Department and the Streator Area Chamber of Commerce. The joint goal of the City and Chamber is to retain, expand, promote and attract businesses and industries within the City. Streator is a diverse small city featuring outstanding parks, a historic Carnegie Library, excellent schools, local theatres, a resurgent retail community, strong manufacturing base and an outstanding healthcare network. Located on two major railroads and triangulated in the center of three interstate highway links, with quick access to the Chicago metro area, Peoria and Bloomington-Normal, Streator is an attractive business location in the heart of north central Illinois. The information provided below will assist you in confirming that Streator is the correct place to consider locating your business. Please contact Scot Wrighton, City Manager at (815) 672-2517, ext 225, or Stephen Jonland, Streator Chamber Economic Development at (815) 672-2921, with any questions, including economic development incentives which may assist your location decision.
For New Construction, Expansion, Renovations, and Remodeling
Property Tax Abatements available for commercial or industrial real property located within the zone for projects which have a building permit and constitute new construction, renovation, or remodeling. Within LaSalle County, certified projects shall be eligible for a four-year abatement of approximately 50% of the real property taxes attributed to the improvements and within Livingston County a four-year abatement approximately 10% of the real property taxes attributed.
Investment Tax Credit. Equal to 1/2 of 1% (.5) against state income tax for investment in "qualified" property (machinery, equipment, real property) placed in service within the zone.
Jobs Tax Credit. A $500 per employee tax credit on Illinois Income Tax for hiring employees who are certified as a dislocated worker or economically disadvantaged.
Sales Tax Exemption. Exemption of the 7.5% sales tax on building materials purchased from a retailer within the Enterprise Zone. (City of Streator and unincorporated LaSalle and Livingston Counties).
To view a map of the Streator Enterprise Zone, click here.
For an Enterprise Zone application or to FAQ document, click here.
Low Interest Loans
The City of Streator Revolving Loan Fund offers low interest participation loan financing for employment creating projects. For information contact: Stephen Jonland at 800-682-3268. To download more information on the Revolving Loan application, click here.
Tax Increment Financing (TIF)
The City of Streator has created specific TIF area to encourage redevelopment.
To view a map of the Streator TIF 1, click here.
To view information about how a TIF functions or to download an application, click here.
Illinois Incentives and Financing
The Chamber partners with the Illinois Department of Commerce and Economic Opportunity to obtain and maximize incentives available through this and other state agencies. To learn how your company may qualify for low interest financing, tax and job credit incentives, as well as funding for employee training. Contact: Stephen Jonland at 800-682-3268.
Fast Track Review and Processing
The City of Streator staff Development Review Team will expedite and coordinate all issues related to: Planning and Zoning, Land Development, Building Code and Inspection, and Construction. For information, contact Jeremy Palm at 815-672-2517.
Helpful Links and Information
Summary Report 2011 Strategic Planning Workshop
LaSalle County Workforce
City of Streator - Profile
North Central Illinois Council of Governments