Four Tax Incentives Approved by Cook County Board Designed to Support Economic Growth

Today, Cook County Commissioners approved four 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: Burr Ridge, Lynwood, Orland Park and Schiller Park.  

As a result of redevelopment activities, these incentives should support the creation of an estimated 22 new private sector full-time jobs, 117 jobs retained and support approximately 35 construction jobs.

"I’m pleased that we are able to use our tax incentive tools to either keep or expand businesses in Cook County., Preckwinkle said. “The companies receiving these incentives have demonstrated their commitment to our communities and residents.”

Details on the incentives follow, listed by municipality:

Applicant Name: Midwest Associates, Inc., 101 Tower Drive, Burr Ridge
Type of Business: Medical equipment and distribution company
Description: The applicant is a medical equipment, education, warehousing and distributor of orthopedic implants, disposable items and instruments. The company is expanding and will remain at this location.
Type of Incentive: Class 6b
Estimated: 2 full time jobs created; 72 full time jobs retained

Applicant Name: KCVB Properties, LLC, 10830 Glenwood-Dyer Road, Lynwood
Type of Business:  Industrial property development
Description:  The applicant will occupy the property as a construction business. 
Type of Incentive: Class 8
Estimated: 5 full time jobs created; 20 full time jobs retained; 5 construction jobs supported

Applicant Name: ACKS Property, LLC, 15615 S. Harlem Avenue, Orland Park
Type of Business:  Property development
Description:  The applicant will occupy the space as a Dunkin Donuts.
Type of Incentive: Class 8
Estimated: 5 full time jobs created; 15 full time jobs retained; 20 construction jobs supported

Applicant Name: 3901 N25, LLC, 901 N. 25th Avenue, Schiller Park
Type of Business:  Leasing agent
Description: The applicant will lease to a related entity (Noah Properties) for warehousing, assembly and distribution of construction materials.
Type of Incentive: Class 6b
Estimated: 10 full time jobs created; 10 full time jobs retained; 10 construction jobs supported

For more about the tax incentive programs offered by the Cook County Bureau of Economic Development, go to www.cookcountyil.gov/economicdevelopment