Bloomington looking to include downtown in enterprise zone

By Audrey Williams

July 6, 2012 Updated Jul 6, 2012 at 10:25 PM CDT

BLOOMINGTON, Ill -- The city of Bloomington is looking to expand a current enterprise zone to promote growth in the downtown.

Enterprise zones are set up by the state to give tax credits to businesses to promote new growth and jobs.

Some of the tax credits include property tax exemptions and sales tax credits for building new structures.

Bloomington Mayor Steve Stockton says several downtown business owners are interested in the latest proposal to include areas of downtown.

"We think downtown is a prime area. There is a lot of potential down there. If we're incentivizing development in other places in McLean County and the city of Bloomington then lets not overlook our downtown area," said Stockton.

The proposal will go before the Bloomington City Council at Monday's meeting.

If approved, it will also have to be approved by the Town of Normal and the McLean County Board.

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