Economic Incentives

The City of Newton partners with Jasper County and other regional and state organizations to provide a competitive mix of incentives used to attract and grow businesses and industries.

The Newton TIF District was created in 2008 (expires in 2031 if not extended). The TIF District also includes two Industrial Park Conservation (IPC) Areas located on the west (48 acres) and south (52 acres) parts of the community. TIF funds can be used to assist with land assembly and site preparation, which includes the acquisition of land, demolition of structures, and ground-level site preparation (parking lots and other concrete or asphalt barriers, and clearing and grading of land) in order to induce private investment. The TIF Plan also allows the City to make necessary public utility improvements to serve the needs of and retain existing users and to induce private investment into the area. The City can assist in the private renovation of existing buildings, including façade improvements. TIF funds can also be used to cover the cost of job training and retraining projects implemented by the businesses located within the TIF District or to cover interest costs incurred by a redeveloper related to the construction, renovation, or rehabilitation of a redevelopment project as long as the project meets certain criteria. Click here to view a TIF District map.

The TIF District overlaps the City of Newton/Jasper County Enterprise Zone in certain locations. For businesses located within the Enterprise Zone that fall in certain SIC codes, property tax abatement is available. The schedule is as follows:

A sales tax exemption will be granted for all businesses located in the Zone which exempts the business from the 6.25 percent state sales tax for tangible personal property to be used or consumed within the Zone. Eligible businesses will receive a 0.5 percent credit against the state income tax for investments in qualified property which is placed in service within the Zone and eligible businesses will receive fee waivers for water and sewer connections for property which is placed in service within the Zone. For more information visit the Forms & Applications page.

The City of Newton offers a discounted electric rate equal to what the City pays their electric supplier for power used to new businesses that create at least ten jobs and retain those jobs for at least five years. This results in a cost savings initially of approximately 20 to 25 percent for the first five years and a graduating rate for the sixth year. The business will begin paying the normal commercial rates beginning seven years after locating to Newton. Click here for more information or contact City Hall at (618) 783-8451.

Many financing options are available to expanding and new businesses. The City of Newton has a Revolving Loan Fund that is often used by local businesses. South Central Illinois Regional Planning and Development Commission (SCIRPDC) has several programs including: Rural Business Initiative(RBI) Loans, Title IX Revolving Loans, and Commission Section 504 Certified Development Company Loans and Bank Loan Guarantees (SBA 7{a} and Rural Development Loans). More information can be found at SCIRPDC’s website.

The Illinois Department of Commerce and Economic Opportunity has several grant, loan, tax credit and job training programs available. More information can be found at www.illinois.gov/dceo.

The USDA Rural Development offers several different grant and loan programs for businesses to utilize. More information can be sought on their website.

The zoning plan helps to guide the growth and development in the community and assures an investor that there are proper guidelines in each area. The Zoning Code, zoning map, and forms can be found on the Forms & Applications page.

The building permit process is streamlined to provide a quick response with goals to encourage safe structures. The Building Code and permit application can be found on the Forms & Applications page.