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MONEY (INCENTIVES, FINANCING SOURCES, and TAXES)


Incentives

Carthage has a Tax Increment Financing District that includes many sections of the community that are excellent locations for your business. This includes large and small building sites with highway access on the east side of Carthage around the Highway 336 interchange, locations on Route 136 going through the community east to west, and buildings on the downtown courthouse square. The TIF program is created by state statutes to generate funds that can be used for redevelopment project costs.

4 banks

Financing

Local banks and other development groups in our area are always available to talk with persons interested in starting up a new business.

First Bankers Trust
West Buchanan Street
Box 298
(217) 357-3621
First Community Bank
618 Main Street
(217) 357-2198
First State Bank of Western Illinois
433 Main Street
(217) 357-3112
Marine Bank and Trust Company
410 Buchanan
(217) 357-3151

 

Prairie Hills Resource Conservation and Development
Specifically for development loans

Contact: David King, Director
321 University Drive
Macomb, IL 61455
309-833-4747
prairie@madomb.com

 

Western Illinois Community Development Corporation
Specifically for development loans, initiated through local lenders.

Contact: Lynn Fisher, Marine Bank
(217) 357-3151

 

Western Illinois Economic Development Authority (WEIDA)
Specifically for tax-free bond financing and revolving loans

Contact:  Andrew Hamilton
(866) 325-7525

 

Western Illinois Electrical Coop
Revolving loans for business development

Contact:  Tommie Long
(217) 357-3125

 

Carthage Property Taxes

2004:7.3985%
2003:7.3311%
2002:7.3325%
2001:7.5905%
2000:7.7981%


Carthage has one of the lower tax rates in the state, and strives to keep it that way!