“It’s a good thing and I’m pretty excited,” commented Red Bud Mayor Tim Lowry on Tuesday morning after it was announced that the Monroe-Randolph County Enterprise Zone had been approved.
The Illinois Enterprise Zone Board approved 14 applications to establish or renew enterprise zones received for evaluation this year.
Enterprise zones encourage job growth and investment in economically depressed areas. Companies within a zone, or that agree to move into one, may qualify for tax incentives that include sales tax exemptions on purchases of building materials, an investment tax credit, and in some instances on utility taxes. Each zone is administered by a local official under rules set by the State.
For more information, please see this week’s print edition.