- July 22, 2021
- Posted by: Stratford Team
- Category: Business
MACOMB, Ill. (WGEM) — Macomb officials said they’ve accomplished a lot with their Tax Increment Financing district over the last 35 years and they want to keep that success going by expanding the district to help more businesses.
Macomb Community Development Coordinator John Bannon said the TIF District is designed to give the community a long-term tool that will help spur more economic development and works by giving businesses tax breaks in an effort to encourage development.
Nelson’s Clothing in downtown Macomb is in the city’s Tax Increment Financing District.
Owner John Nelson said with help from the TIF District he was able to receive funds from the Downtown Renovation Grant and is now renovating the interior and exterior of his business.
“We had to replace our awnings, we wanted a sign for the first time. We were going to do the projects, most of it anyway, but because of the TIF district we were able to do the entire…
