Ribbon Cuttings, Grand Openings, Open Houses, Groundbreakings
Seize the Future Development Foundation maintains an active database of available properties and conducts site searches for specific property requirements for businesses looking to expand or locate in Aurora.
Seize the Future Development Foundation offers a wide range of incentives including:
New Markets Tax Credits provide a 5% tax credit for the first three years and 6% for the remaining four years for a total of 39% over seven years in defined low income census tracts.
The Finish Line Downtown Grant is available for property owners is TIF 1 and parts of TIF 3 looking to rehabilitate or improve building facades or complete interior build-outs. Properties must be mixed-use with commercial space on the first floor and residential on upper floors. The grant will cover 20% of the rehabilitation costs up to $75,000.
HUB Zone designation is for businesses operating in Historically Underutilized Business Zones and gives a 10% price evaluation preference in full and open federal contract and subcontracting competitions. Businesses must be registered with the SBA, the principal office must be located in a HUB Zone and 35% of the employees must be from a HUB Zone. Additionally, the business must be majority (51%) owned and controlled by US citizens.
Industrial Revenue Bonds are a unique type of revenue bond issued by the local government on behalf of a private sector business, usually in support of a specific project.
Aurora is one of four River Edge Redevelopment Zones in the State of Illinois. The program focuses on the redevelopment of environmentally challenged properties adjacent to rivers. Benefits of this program include: sales tax exemption for building materials, property tax abatement, investment tax credits of 0.5% for the cost of qualified depreciable property, dividend income reduction, job tax credits, interest income deduction, environmental remediation tax credit and historic preservation tax credit.