Cook County Board Approves Seven Tax Incentives to Support Economic Growth
Cook County Commissioners today approved seven proposals from President Toni Preckwinkle's Bureau of Economic Development (BED) that will provide tax incentives to businesses in Cook County.
The incentives, which will either create new or save existing jobs, were approved in the following communities: Chicago, Elk Grove Village, Lansing, Oak Forest, Schaumburg, Schiller Park, and Summit.
As a result of redevelopment activities, these incentives should support the creation of an estimated 112 new private sector full-time jobs, retain an estimated 324 full-time jobs and support 122 construction jobs.
"Three of the companies receiving incentives are from the manufacturing and machinery sector," said Cook County President Toni Preckwinkle. "I’m pleased that we are able to use our tax incentive tools to either keep or expand manufacturing businesses in Cook County.”
Details on the incentives follow, listed by municipality:
Business Name: Trane and Stanley Steamer – 920 W. Pershing Road, Chicago
Type of Business: Provider of HVAC systems (Trane) and provider of Residential Cleaning Services (Stanley Steamer)
Project Description: Lease to Trane, a provider of HVAC systems, to occupy 24,950 square feet on the site. Stanley Steamer, a provider of commercial and residential cleaning services will occupy 18,910 square feet. This is a new location for both companies.
Applicant’s Name: 920 Venture LLC
Type of Incentive: Class 6B
Estimated: 30 full-time jobs created; 25 construction jobs supported
_
Business Name: Ashland Door Solutions, LLC – 185 Martin Lane, Elk Grove Village
Type of Business: Manufacturing, warehouse, distributor
Project Description: Relocation and expansion of operations
Applicant’s Name: Ashland Door Solutions, LLC
Type of Incentive: Class 6B
Estimated: 8 full-time jobs created; 12 full-time jobs retained; 3 construction jobs supported
_
Business Name: Planet Fitness – 17425 Torrence Avenue, Lansing
Type of Business: Health and fitness
Project Description: Applicant will purchase property and lease to a Planet Fitness franchisee, as well two smaller retail tenants.
Applicant’s Name: Lansing Holdings LLC
Type of Incentive: Class 8
Estimated: 20 full-time jobs created; 25 construction jobs supported
_
Business Name: John Amico Showroom and Business Resource Center -- 15300 S. Cicero Avenue, Oak Forest
Type of Business: Beauty industry products and support
Project Description: Applicant will occupy the space and serve the beauty industry with education, professional supply products and software systems.
Applicant’s Name: 15300 S. Cicero, Inc.
Type of Incentive: Class 8
Estimated: 2 full-time jobs created; 30 full-time jobs retained; 4 construction jobs supported
_
Business Name: Hunter Foundry Machinery Corp – 2222 Hammond Drive, Schaumburg
Type of Business: Manufacturing and machinery
Project Description: Company will invest $530,000 in capital improvements to the property to remain competitive
Applicant’s Name: William G. Hunter and Karen M. Hunter
Type of Incentive: Class 6B
Estimated: 5 full-time jobs created; 44 full-time jobs retained
_
Business Name: Avers Machine and Manufacturing, LLC, -- 3999 N. 25th Avenue, Schiller Park
Type of Business: Manufacturing and machinery
Project Description: The applicant will substantially rehabilitate the purchased property and occupy it as Avers Machine and Manufacturing
Applicant’s Name: Hudson Avenue Capital, LLC
Type of Incentive: Class 6B
Estimated: 12 full-time jobs created; 28 full-time jobs retained; 15 construction jobs supported
_
Business Name: Talerico Martin Bakery – 7224 West 60th Street, Summit
Type of Business: Bakery manufacturing and warehouse
Project Description: Expansion of current business in Summit
Applicant’s Name: Michael A. Martin and Robert J. Talerico
Type of Incentive: Class 6B
Estimated: 35 full-time jobs created; 210 full-time jobs retained; 50 construction jobs supported
_
Two of the incentives – those for Amico and Hunter – are considered temporary and non-renewable.
For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment.