• Springfield/Sangamon County is located in Central Illinois at the intersection of Interstate Highways 55 and 72, approximately 200 miles (320 kilometers) south west of Chicago, 100 miles (160 kilometers) northeast of St. Louis, and 193 miles (311 kilometers) west of Indianapolis
• There are distinct advantages to a Springfield/Sangamon County location in light of the ready access it provides to major consumer markets, suppliers of raw material and components, and transportation facilities and services. Also, this location enhances the cost effectiveness of all modes of transportation, while providing excellent means for inexpensive movement of components and final goods.
• This nationally central location, less than 120 miles (190 kilometers) from the population center of the United States, offers same-day or overnight transportation access to/from over one-third of the nation’s manufacturing firms.
• Springfield and Sangamon County support the expansion and relocation of new and existing businesses. To entice this growth, a wide variety of financial pro- grams are available. The Chamber has been proactive in assembling local taxing districts to draft and pass a local incentive policy that fosters a united regional community dedicated to providing a profitable place to do business.
• The City of Springfield has devoted a portion of its federal block grant (CDBG) funds to provide loans to businesses. These loans are required to meet HUD’s national objective of benefiting low to moderate income persons, which can be accomplished by requiring that a minimum 51% of jobs created or retained be filled by or made available to low—moderate income individuals. More information is available by at the City’s Office of Planning and Economic Development.
• The Springfield zone is one of nearly a hundred in Illinois and has been extended to run until 2014. All additions to the zone must meet state regulations. Further information can be found here. Benefits for the zone include: sales tax deductions, property tax abatement's, investment tax credit, machinery and equipment sales tax exemptions, utility tax exemptions, dividend income deductions and interest deductions.
• As a “home-rule” unit of government, the City of Springfield may issue these bonds as a way to offer tax-exempt financing for qualifying manufacturing companies. Bonds are issued by the city, on behalf of the borrower, to finance new construction, rehabilitation, new equipment and other related developmental costs. Interest paid on the bonds is tax-free to investors, which induces
lending at substantially lower costs - often as much as 2%-3% below convectional financing.
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