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