The City of Peoria Enterprise Zone provides a number of incentives to encourage industrial and commercial development. The most important incentive is that sales tax is not paid on building material purchased for an industrial and commercial development in the zone. This saves the developer 8% on material, and helps to encourage redevelopment in Peoria - development that might otherwise go to "green grass" sites with lower development costs.
The one time cost to the City and State helps create a long term investment that pays property, sales, and utility taxes while creating jobs and helping revitalize the older portions of the City. The attached spread sheet shows the quick payback for a typical Enterprise Zone incentive.
http://spreadsheets.google.com/pub?key=pSt1ivzaCLuN_Qgx9RdE2HQ
More information on the Enterprise Zone on the page below:
http://peoriaenterprisezone.blogspot.com/
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