Business Incentives

The Village of Mount Prospect has revamped the Façade Improvement Program to give shopping districts Village-Wide the opportunity to apply for the grant. To participate in the program, review the brochure and application. Eligible improvements include façade renovation, lighting, window/doors, upgrading or retrofitting mechanical systems, parking improvements, signs or awnings, life safety upgrades, and reconfiguring of interior space. Eligible uses must generate sales tax and recipients of the funding must submit annual sales tax information. For more information, contact the Director of Community Development at 847/818-5328 or via email.

Recent grantees include:

Trezeros Kitchen + Tap

Mrs. P & Me

Prospect Plaza

The Mount Prospect Green Buildings Grant Program provides financial assistance to eligible businesses and property owners seeking to invest in energy-efficient and sustainable building improvements. The program supports projects that reduce energy use, lower operating costs, and decrease environmental impacts, while advancing the Village’s sustainability goals. Eligible projects must demonstrate measurable energy savings and environmental benefits and are subject to Village review and approval.

For more information, contact the Director of Community Development at (847) 818-5328 or via email.

The Class 6b classification is designed to encourage industrial development throughout Cook County by offering a real estate tax incentive for the development of new industrial facilities, the rehabilitation of existing industrial structures, and the industrial reutilization of abandoned buildings. The goal of Class 6b is to attract new industry, stimulate expansion and retention of existing industry and increase employment opportunities. Under the incentive provided by Class 6b, qualifying industrial real estate would be eligible for the Class 6b level of assessment from the date that new construction or substantial rehabilitation is completed and initially assessed or, in the case of abandoned property, from the date of substantial reoccupancy. Properties receiving Class 6b will be assessed at 10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year or. This constitutes a substantial reduction in the level of assessment and results in significant tax savings. In the absence of this incentive, industrial real estate would normally be assessed at 25% of its market value.

• Cook County 6B Bulletins
• Cook County 6B Application

Similar to the 6b classification, the Cook County Class 7c is designed to encourage commercial development throughout Cook County by offering a real estate incentive for improvement or build out of new or existing commercial facilities. Projects can include rehabilitation of existing structures, or construction of new facilities.  Qualifying properties receive reduced assessment levels 5 years (10% for 3 years, 15% in year 4, 20% in year 5), unless renewed and approved by the County. For more information, click the link here.

The Department of Commerce and Economic Opportunity (DCEO) is charged with enhancing Illinois' economic competitiveness by providing technical and financial assistance to businesses, local governments, workers and families. As the state's lead economic development agency, DCEO works to capitalize on Illinois' strengths as a center of transportation, manufacturing and technology development. The agency actively promotes the state's business-friendly policies, highly productive workers, and entrepreneurial spirit -- attributes that helped Illinois win Site Selection magazine's Governor's Cup as the top state in the nation for business development.  More information about types of assistance the DCEO can offer your business.