The City Council today authorized the Department of Planning and Development to reapply for six Enterprise Zone designations to help encourage job growth and business investment.

Administered by the State of Illinois, the Enterprise Zone program offers businesses located within designated areas a variety of State tax incentives, including credits, reductions, exemptions, and rebates, among other benefits.

Chicago’s six Enterprise Zones are set to expire in July 2016 unless the City successfully applies for their re-designation by the State. The new designations will maintain the general boundaries of the current areas, each of which cover specific portions of the City:

     #1 West Side and Far West sides
     #2 Mid-South Side
     #3 Lake Calumet area
     #4 Near West, Northwest and North sides
     #5 Near West and West sides
     #6 South Side

A public hearing will be held in each area prior to the application submission. If approved by the State, the new designations will take effect in January 2016 and last for 15 years.

# # #