County weighs adding residential properties to enterprise zones
Scott Cousins, scousins@thetelegraph.com
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EDWARDSVILLE A proposed expansion and change to Madison County’s Southwestern Madison County Enterprise Zone has led to sharp disagreement over whether to include residential development.
The Madison County Board’s Grants Committee last week discussed several proposed changes, including adding territory, extending tax abatement time periods to 10 from four years and including residential development.
Enterprise zones offer incentives to developers, primarily in the form of property and sales tax incentives, investment tax credit, machinery and equipment sales tax exemptions and a utility tax exemption.