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 enterprises 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 incentivesmany 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 and Economic Development

Phone: (309) 734-2141

Fax: (309) 734-4943

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Amy Zesbaugh

Marketing and 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 Monmouthwe 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.

Downtown Facade Grant Program

The Monmouth Facade Improvement Program is a matching grant program designed to help building owners within the Warren County Courthouse Commercial Historic District (roughly bounded by Archer Avenue on the North, First Street on the East, Second Avenue on the South and A Street on the West) improve the exterior facades of their buildings in accordance with the historic nature of the District. The maximum grant amount will be $7,500 match per project (50% match from program), as available funds allow, on a first-come, first-serve basis. The facade funds have been made available by the City of Monmouth and are administered by the City after approval by the Downtown Facade Committee.

The procedure to be approved for a grant takes about three months. Please plan accordingly.

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 (TaxIncrementFinancingBenefitsDetails.pdf)TIF Benefits[PDF Document]496 kB
Download this file (monmouth_tif_2012.pdf)TIF District Map [PDF Document]78 kB

Enterprise Zone

The City administers the Monmouth Warren County Enterprise Zone (MWCEZ) 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. The MWCEZ was certified on January 1, 2016.

Note: 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 (EZ_Warren_Monmouth_6_Maps.pdf)Enterprise Zone Map[PDF Document]1385 kB
Download this file (EnterpriseZoneIncentives.pdf)Enterprise Zone Incentives[PDF Document]82 kB

Interactive Demographic Map

When considering starting a business, relocating an existing business to Monmouth or expanding your business, good data is essential. Monmouth has been working with The Retail Coach since 2015 to provide up-to-date demographic and purchasing data to help businesses thrive here in Monmouth.

The Retail Coach has provided an on-line mapping tool to provide key access to much of this data. To use the map, click on this link: Monmouth Demographic Map. Select the Layers button to view the data sets available. 

We also have more precise purchasing and leakage data. If interested, please contact Paul Schuytema at This email address is being protected from spambots. You need JavaScript enabled to view it..

Retail Gap Analysis

The attached report below gives a demographic profile of the Monmouth retail trade area and a gap analysis of retail purchasing patterns. You can utilize this information to discover market sector opportunities for new businesses or potential business or market expansions.

Attachments:
Download this file (MonmouthIL_PrimRTA_RGA_2016.pdf)Retail Gap Analysis[PDF Document]11035 kB