Lincoln IL Economic Development Agency

Find Lincoln, Illinois economic development agencies, departments, and corporations. Economic development agencies provide information on resources for economic growth, expansion of local businesses, attracting new business and tourism.

Illinois State Economic Development 1800 5th St Lincoln IL 62656 217-732-2159

Lincoln Economic Development 1555 5th Street Lincoln IL 62656 217-732-8739

About Lincoln Economic Development Agencies

Lincoln Economic Development Agencies (EDA's) are government agencies at the Illinois State, Logan County, or local level whose mission is to promote business activity and development, attract and retain business, facilitate development that increases employment and the tax base, and encourage an environment in which the economy can thrive in Lincoln, IL.

You may contact the Economic Development Office for questions about:
  • Lincoln Economic Development programs and services
  • City and community development
  • Job creation, training, and workforce development
  • Lincoln Economic Development funds
  • EDA grants and funding
Lincoln Business Development

Economic Development Agencies in Lincoln promote Illinois, Logan County, or community as a favorable location to do business. They usually work closely with Lincoln Chambers of Commerce and other business groups to market the region for business development. This collaboration often involves creating marketing materials, developing promotional advertising, and organizing Lincoln business expos.

Small Business Support Programs

The Lincoln Economic Development Agency may include an office dedicated to supporting small businesses. The Lincoln government can support small businesses by providing ombudsmen services, helping small businesses work through licensing and Logan County permitting requirements, and raising awareness of bidding opportunities on government contracts.

Land Development Programs in Lincoln, Illinois

Lincoln Economic Development Centers actively seek developers for undeveloped land or parcels in need of redevelopment. They market development opportunities, and in cases where obstacles to development exist, they may help identify gap funding or other solutions to impediments such as site contamination. Lincoln EDA's also maintain inventories of available commercial land and commercial building space in order to serve as a matchmaker for developers, landlords, and business owners.

Lincoln Tax Incentives

Lincoln Economic Development Corporations sometimes offer tax incentives to businesses that expand or relocate within their jurisdiction. This strategy is particularly common at the Illinois State level, but it also takes place at the Logan County and local levels. Typically, the Economic Development Agency offers a Lincoln tax incentive or tax abatement based on the theory that the new or expanded business will generate job opportunities and thus increase the tax base.

Economic Development Grants & Loans

Lincoln grants and non-traditional loans are also available through Economic Development Agencies. Common grants to businesses include Brownfield Redevelopment grants, facade improvement grants, and Lincoln public improvement grants. A variety of Lincoln loan programs may be accessible through an Economic Development Agency, often at below-market interest rates and with less stringent credit requirements than loans from traditional financing institutions.