LCEDC/Enterprise Zone

The Lake County Enterprise Zone was formed by the Lake County Commissioners in 1990 to encourage investment and job creation in Lake County in an effort to improve the county's economic climate. The Enterprise Zone is an area within which special tax incentives are offered to businesses that agree to invest in capital improvements and create jobs. Tax incentives will be considered if the Enterprise Zone program guidelines are met and a substantial investment is made. Businesses must agree to make substantial investments (over $100,000) in real and/or personal property to be eligible to receive the benefits available under the program. Businesses must also agree to create jobs. In accordance with the Enterprise Zone guidelines of the municipality to be eligible for tax abatement, a company must meet one of the following:

ESTABLISH		The company must build a new facility at a location where the company had not previously operated.
EXPAND		The company must add land, buildings, machinery, equipment or other materials except inventory to their facility that equals at least 10% of the market value of the facility prior to such expenditures, as determined for the purpose of local property taxation.
RENOVATE		The company must remodel a facility that equals at least 50% of the market value of the facility prior to such expenses.
OCCUPY		The company must alter or repair a facility vacant for at least 90 days equal to at least 20% of the market value of the facility before such expenditures.

Click here for detailed tax abatement information

Contact for information:
(440) 357-2290
entzone@lcedc.org