Target   Population:

Madison County’s economic development programs are targeted to assist businesses interested in locating, expanding or retaining their operations in the County, and local governments and other allied organizations interested in encouraging economic development.

Goals:

  
• The creation and retention of jobs for Madison County residents;  
• The expansion of local governments’ tax basis; and  
• Investment by local governments in capital projects that address health and safety concerns and enhance the County’s overall quality of life.

Services   Offered:

  
• Low interest “gap” financing loan programs for businesses to fund projects in conjunction with banks that creates new permanent jobs;  
• A low interest infrastructure loan program for local governments that funds infrastructure projects that address health and safety issues or enables businesses to retain, locate or expand their operations within Madison County;  
• Three enterprise zones that provide special state and local tax incentives and financing to businesses that invest in new projects within the zones;
• A MicroLoan Program with Justine Petersen Housing and Reinvestment Program;  
• A property tax abatement program targeted to businesses outside of enterprise zones that are expanding or locating their operations in the County and creating additional jobs;  
• A technical assistance program to businesses interested in locating or expanding their operations in the County that provides them services regarding:  
• Potential building and site locations;

• Demographic, labor market and zoning information;  

• Other sources of federal, state and local sources of financing for business projects or related infrastructure improvements;          
• Training and job referral and recruitment services.  
• A technical assistance program to local governments that helps them identify and obtain state and federal sources of funding to finance local health and safety infrastructure projects that address health and safety issues and improve the quality of life of Madison County residents.