City of Monmouth

Welcome to the Maple City!

Economic Development



We Want You to Thrive in Monmouth

In a small community like Monmouth, our small businesses are the life-blood of our economy. The City of Monmouth works hand-in-hand with businesses, agencies and driven individuals to create a fertile economic garden for our local enterprisses to grow and thrive.

Whether you are a new business looking to start-up, an existing business looking to expand into the Monmouth market or a long-time Monmouth business looking to expand, let us help connect you to the tools and agencies to help you reach your goal.

Monmouth proudly stands on firm economic footing, with solid municipal fiscal management, strong economic-drive businesses (such as Farmland Foods and Monmouth College) and a history of entrepreneurial innovation and growth. We are a community rooted in a rich history with a progressive vision of a prosperous future in the global twenty-first century economy.

We realize that there is more to economic development that just site selection and incentives -- many factors help drive a thriving small town economy from quality of life to cultural and educational opportunities to access to transportation and an able and ready workforce. We are active and aggressive in our efforts to create a vital "hotspot" for economic growth in our community.

Stop by City Hall and let us share our history, our vision, our community and our tools with you - together we can thrive here in West Central Illinois!

Paul Schuytema

Director of Community Development

Phone: 309-734-2141

Fax: 309-734-4943

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Incentives

We work hard to make sure your new or existing business will do more than survive here in Monmouth--we want you to thrive! To that end, we have a number of tools available to help you get your business started or take your existing business to the next level. Our incentives aren't "free money," but rather are financial tools designed to help you leverage your private capital and investment. Please contact us and we'll discuss how to help you become another Monmouth success story.

 
TIF District

Monmouth's TIF District provides a vehicle to reinvest tax revenue back into the community. The TIF District encompasses the Public Square region of downtown, as well as west Broadway to Route 34. Improvements in structures provides revenue for the TIF Board to utilize in building and infrastructure improvements, as well as offering reduced-rate loans within the District.

Attachments:
Download this file (monmouth_tif_2012.pdf)TIF District Map[PDF Document]78 Kb
Download this file (TaxIncrementFinancingBenefitsDetails.pdf)TIF Benefits[PDF Document]496 Kb
 
Enterprise Zone

The City administers the Enterprise Zone which is a program designed to stimulate economic growth and neighborhood revitalization. Incentive package includes special financing options, tax credits and reduced fees to name a few.

 

***Beginning July 1, 2013, the building materials exemption will be available only to those contractors or other entities with a certificate issued by the Illinois Department of Revenue.  For further information you can go to, http://tax.illinois.gov/ or http://cityofmonmouth.com/city-departments/zoningoverview.html

Attachments:
Download this file (EnterpriseZoneIncentives.pdf)Enterprise Zone Incentives[PDF Document]82 Kb
Download this file (monmouth_ez_2012.pdf)Enterprise Zone Map[PDF Document]84 Kb
 
Facade Loan

The Facade Loan program provides special financing as an incentive to improve the appearance of the downtown business district. For every dollar invested by the business, the program will finance two dollars at a rate of 3% interest. Eligible projects must be exterior improvements to existing structures.

Attachments:
Download this file (DowntownFacadeApplication.pdf)Facade Loan Application[PDF Document]34 Kb
Download this file (DowntownFacadeBrochure.pdf)Facade Loan Brochure[PDF Document]56 Kb