Village Board offers incentives for economic recovery

  • 2020-06-19
Officials from Orland Park are giving incentives to businesses that want to reopen.

A list of incentives was put forward by the Village Board. They are designed to make it easy for businesses to start up again now that the lockdown has been partially lifted.

One of those incentives is sharing out of sales taxes collected. With this plan, businesses would be given 50% of the sales tax from sales made. Existing businesses that are reopening with be able to get a share of the sales tax for three months. Restaurants that are taking over the locations that were left vacant when the previous proprietor closed down could be able to share their tax revenue for up to 10 years.

Existing businesses should put in their applications by the end of June. New restaurants do not have a deadline for when to apply. Application Forms tend to feature official Letterheads.

This is not the first time that Orland Park has used tax sharing to stimulate the local economy. Car dealerships are a common recipient of this offer and the same deal was offered to Von Maur when it was opening a store at Orland Square Mall. The plan that was recently approved by the Village Board will differ in some ways and be more inclusive.

Another incentive the Village Board could offer is a 25% reduction on impact and permit fees for industrial developments.

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