Business & Tech
Village Considers $50K Incentive to Keep Business in Oak Park
Village finance committee hears proposal to offer an expanding, but secret, business an incentive package to keep it from leaving Oak Park, the Wednesday Journal reports.
While they don't know the name of the business yet, Oak Park officials are considering a $54,000 incentive package to keep a business that brings in more than $500,000 a year for the village from relocating to another town, the Wednesday Journal reported Tuesday.
The package would include waiving $4,000 in village fees and a 5-year $50,000 commercial loan for the business, which would like to relocate to a larger space in Oak Park, to buy fixtures, furniture and equipment. The village would also keep 50 parking permits available for the business to purchase for the growing staff, according to the Journal.
Read the full Wednesday Journal story here.
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