{"id":1494,"date":"2022-09-13T17:41:22","date_gmt":"2022-09-13T17:41:22","guid":{"rendered":"https:\/\/developperu.com\/?page_id=1494"},"modified":"2022-10-17T15:55:08","modified_gmt":"2022-10-17T15:55:08","slug":"uirvda-enterprise-zone-program","status":"publish","type":"page","link":"https:\/\/developperu.com\/uirvda-enterprise-zone-program\/","title":{"rendered":"UIRVDA Enterprise Zone Program"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1494\" class=\"elementor elementor-1494\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-390ba2b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"390ba2b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6442475c\" data-id=\"6442475c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-18cf6882 elementor-widget elementor-widget-heading\" data-id=\"18cf6882\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">The Upper Illinois River Valley Development Authority (UIRVDA) Enterprise Zone<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-da3d46e elementor-section-full_width elementor-section-content-top elementor-section-height-default elementor-section-height-default\" data-id=\"da3d46e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-85e0551\" data-id=\"85e0551\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-329cc6a elementor-widget elementor-widget-image\" data-id=\"329cc6a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/developperu.com\/wp-content\/uploads\/2022\/09\/UIRVDA-Application-2017-05.pdf\" target=\"_blank\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/developperu.com\/wp-content\/uploads\/2022\/10\/Upper-Illinois-River-Valley-Development-Authority-Logo.jpg\" class=\"attachment-full size-full wp-image-2276\" alt=\"\" srcset=\"https:\/\/developperu.com\/wp-content\/uploads\/2022\/10\/Upper-Illinois-River-Valley-Development-Authority-Logo.jpg 1024w, https:\/\/developperu.com\/wp-content\/uploads\/2022\/10\/Upper-Illinois-River-Valley-Development-Authority-Logo-300x169.jpg 300w, https:\/\/developperu.com\/wp-content\/uploads\/2022\/10\/Upper-Illinois-River-Valley-Development-Authority-Logo-768x432.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9cd3734 elementor-widget elementor-widget-text-editor\" data-id=\"9cd3734\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 18-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>The Upper Illinois River Valley Development Authority (UIRVDA) administers the UIRVDA Enterprise Zone (UVEZ). The Enterprise Zone Program is designed to provide state tax credits and exemptions as incentives to encourage businesses to make a new investment on property within the Zone. This stimulates business activity and creates new jobs.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85e7789 elementor-widget elementor-widget-heading\" data-id=\"85e7789\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Eligibility<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c38f0f elementor-widget elementor-widget-text-editor\" data-id=\"7c38f0f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A business must be located in the designated territory of the UVEZ in order to receive benefits. In May 2017, the UVEZ was initially designated in LaSalle and Kendall Counties. This territory can be expanded to any property in the Illinois Companies wishing to be in the UVEZ must apply to UIRVDA requesting the zone be expanded to include their property before starting and must have a project that creates substantial utility. The approval process generally takes 4-6 weeks dependent upon the complexity of the project. The UVEZ territory can be up to twelve square miles.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-b12ba09\" data-id=\"b12ba09\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da50097 elementor-widget elementor-widget-heading\" data-id=\"da50097\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Benefits<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c51b9be elementor-widget elementor-widget-text-editor\" data-id=\"c51b9be\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li><strong>Sales Tax Exemption on Building Materials<\/strong>\u00a0\u2013 A state sales tax exemption is permitted on the purchase of building materials to be used in an Enterprise Zone This is the 6.25% State Sales Tax and any other local sales tax. Materials must be permanently affixed to the property and purchased within the State of Illinois to qualify.<\/li><li><strong>EZ Investment Tax Credit<\/strong><b>\u2013<\/b>\u00a0A State investment tax credit of one half percent (0.5%) is allowed to a taxpayer who invests in qualified property in an Enterprise Zone. Qualified property includes machinery, equipment and buildings that are both tangible and depreciable under IRS section 167 (i.e. qualified property must produce income and be subject to wear, tear and exhaustion). The credit may be carried forward for up to five years.<\/li><li><strong>EZ Natural Gas Use Tax Exemption (Wheeling Exemption)<\/strong>\u00a0\u2013 A state natural gas use tax exemption is permitted on the purchase of natural gas from outside of Illinois for use in Illinois at the rate of 2.4 cents per therm or 5% of the purchase<br \/>price for the billing period, whichever is the lower rate.<\/li><li><strong>Utility Tax Exemption\u00a0<\/strong>\u2013 A State utility tax exemption on the 5.1% natural gas, electricity and the Illinois Commerce Commission\u2019s administrative charge and telecommunication excise tax is available to businesses located in enterprise zones. Eligible businesses must make an investment of at least $5 million in qualified property and create a minimum of<br \/>200 full-time-equivalent jobs or retain a certain number of jobs and make a larger investment.<\/li><li><strong>Consumables Tax Exemption<\/strong>\u00a0\u2013 A State sales tax exemption on all tangible personal property used or consumed within an enterprise zone in the process of manufacturing or assembly of tangible personal property for wholesale or retail sale or lease is available for businesses located in an enterprise zone. Examples include: repair and replacement parts, fuels, supplies for the maintenance, repair or operation, abrasives, acids, lubricants, protective clothing, safety equipment and any fuel used for machinery and equipment. Eligible businesses must make an investment of at least $5 million in qualified property<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bf3baad elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bf3baad\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-0264378\" data-id=\"0264378\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-624b247\" data-id=\"624b247\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aded700 elementor-widget elementor-widget-heading\" data-id=\"aded700\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Application<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-928bafb elementor-widget elementor-widget-text-editor\" data-id=\"928bafb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tCompanies interested should compete a one-page application and submit a non-refundable application fee. There is a zone administration fee paid when certification is issued. The cost of becoming part of the UVEZ is considerably less than the tax benefits you receive.\n\nHave questions about the enterprise zone and whether your commercial property, development, land, or real estate is eligible for benefits?\n\n<strong>Visit the UIRVDA FAQ&#8217;s or <a href=\"https:\/\/developperu.com\/zoning-incentives\/\" style=\"color: #FCE200\" >Zoning &amp; Incentives<\/a> page for additional information.<\/strong>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fa2c5fe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa2c5fe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-inner-column elementor-element elementor-element-32d2695\" data-id=\"32d2695\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8aad828 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"8aad828\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-shrink\" href=\"https:\/\/developperu.com\/wp-content\/uploads\/2022\/09\/TIF_Benefits_Application.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Application for TIF Benefit Relating to Redevelopment<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1df61b elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"c1df61b\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-shrink\" href=\"https:\/\/developperu.com\/wp-content\/uploads\/2022\/09\/UIRVDA-Application-2017-05.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">UIRVDA-Enterprise Zone Application<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-81ee6a7\" data-id=\"81ee6a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-5ec4130\" data-id=\"5ec4130\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Upper Illinois River Valley Development Authority (UIRVDA) Enterprise Zone The Upper Illinois River Valley Development Authority (UIRVDA) administers the UIRVDA Enterprise Zone (UVEZ). The Enterprise Zone Program is designed to provide state tax credits and exemptions as incentives to encourage businesses to make a new investment on property within the Zone. This stimulates business [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/pages\/1494"}],"collection":[{"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/comments?post=1494"}],"version-history":[{"count":34,"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/pages\/1494\/revisions"}],"predecessor-version":[{"id":2699,"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/pages\/1494\/revisions\/2699"}],"wp:attachment":[{"href":"https:\/\/developperu.com\/wp-json\/wp\/v2\/media?parent=1494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}