Industrial Incentives 

The Village of Schaumburg participates in two programs that provide financial incentives for qualified industrial uses.

Industrial Revenue Bonds  

  • Schaumburg receives $5.9 million each year in tax-exempt bonds that can be used by existing Schaumburg industries to expand or to attract new industries
  •  
    The interest rates on these industrial revenue bonds are 65-80% lower than conventional bank interest rates and typically save 10-25% of the amount financed
  • Eligible applicants are limited to manufacturers that alter or add value to raw materials
  • Wholesalers, distributors and retailers are not eligible
  • Eligible uses of the funds include land acquisition, building construction, new equipment or existing equipment purchase and even interest expense during construction

  

Cook County Class 6B

  • The Cook County Class 6B real estate tax incentive allows eligible industrial users to reduce their assessed value for a period of twelve years
  • Eligible  properties must be for industrial uses such as manufacturing, wholesale distribution, or processing of raw materials to create new products
  • The Class 6B incentive can be used for new construction, purchase of abandoned property (2 years vacant) or for substantial rehabilitation of a structure

If you have any questions, please contact Matt Frank, Assistant Director of Community Development/Economic Development Manager, at 847.923.3853.

 

 
101 Schaumburg Court, Schaumburg, IL 60193-1899
P: 847.895.4500, F: 847.895.7806

Dial 311 for non-emergency requests