The River Edge Redevelopment Zone Program (RERZ) helps revive and redevelop properties adjacent to rivers in Illinois. RERZ provides several incentives authorized by State law, including sales tax exemption and property tax abatement. Other incentives are claimed on your Illinois Income Tax filing forms.
The Economic Alliance works diligently to report in a timely manner on things like local business expansion, new business development, new and enhanced development incentives, economic news and other items of interest to our community investors and investor prospects.
The Kankakee Regional Land Bank Authority (KRLBA) completed their first acquisition and sale of a distressed property in Kankakee. The multi-unit property at 831 S. Washington Ave was acquired by the KRLBA through a deed in lieu of foreclosure. KRLBA abated taxes and released a request for proposal to find a qualified buyer to rehabilitate the property.
Project increases access to clean and renewable energy, creates savings for customers
Cities in the River Edge Redevelopment Zone are eligible for the Illinois Historic Preservation Tax Credit Program, which provides a state income-tax credit equal to 25% of a project’s qualified expenditures to owners of certified historic structures.
The Kankakee River Watershed Conference held in March, 2023 discussed how local communities and statewide efforts are working to ensure the area’s greatest asset is protected. Key topics including water quantity and quality, biodiversity, nutrients and agriculture, river recreation, watershed initiatives, and sand and sediment were discussed.
The need for additional and affordable housing in Kankakee County is critical to the population, growth, and economic development of the community. Results from a residential housing analysis administered by Tracy Cross & Associates, Inc. found the opportunity for new residential development over the next several years in Kankakee County is viewed as STRONG.
From cost of living, to a push for renewable energy, to why we don’t yet have a Portillo’s in Kankakee County, Angela Morrey dives deep into what economic development is and what it means for our area.
Live, work, play and build in Kankakee County. That was the overwhelming theme at the Mayor’s Breakfast hosted by the Kankakee Iroquois Ford Association of Realtors.
KCC ranks seventh among all small community colleges in the upcoming 2022 Guide to Military Friendly Schools, published in conjunction with “G.I. Jobs” magazine. In addition, KCC is one of only 14 Illinois community colleges to achieve the Military Friendly® designation for the 2022-23 academic year.
Fresh Del Monte is one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruits and vegetables, as well as leading producer and distributor of fresh produce across the globe. With a production facility located in Kankakee, the site employs roughly 250 people, and exports more than 20 million pounds of produce a year across the Midwest.