Residential development is a key component of Freeport’s revitalization strategy, and the enterprise zone is an important tool to drive that development. The Northwest Illinois Enterprise Zone, which includes parts of Freeport, offers significant incentives such as:
Sales tax exemptions on building materials
Property tax abatement
Waivers on certain permits
These benefits are designed to attract new businesses and encourage expansion, fostering a more robust local economy.
Recently, Freeport has seen residential development, including new townhome projects aimed at revitalizing the housing market. These developments align with the city’s broader strategy to eliminate blighted properties and make way for modern residential spaces. The enterprise zone has been instrumental in encouraging these residential developments by reducing the financial burden on developers, thereby making projects more feasible. The development of these new townhomes captured the attention of local news networks, WIFR and WREX, who covered this story.
As Freeport continues to expand its housing options, the zone remains a critical component of its strategy to attract new residents and improve the quality of life in the city.
By lowering barriers to business entry and fostering a vibrant, livable community, Freeport is positioning itself as a dynamic and forward-looking city. The long-term vision is clear: a thriving local economy supported by a robust business environment and a strong residential base. As these initiatives continue to bear fruit, Freeport is set to become a model for other cities seeking to revitalize their economies and improve the lives of their residents.
Andrea Schultz Winter is the Executive Director for the Greater Freeport Partnership. She can be reached at awinter@greaterfreeport.com or 815-233-1354.
