First Rockford Group will ask the Winnebago County Board this Thursday to abate the county’s portion of property taxes on 334,000 square feet of land near Perryville and Rote roads, site of the planned Rockford store. The deal would cost the county about $689,000 over the life of the five-year abatement.
First Rockford Group CEO Sunil Puri said the tax break would sweeten the pot for investors looking to set up shop near the superstore. And if businesses do come, the additional county sales tax revenue and new jobs would overshadow the loss of property tax dollars.
“Our job is to expedite these projects. We are trying to hook as many people as we can during 12 months of construction,” he said.
Read the entire article by clicking on the following: Developer targets area surrounding Rockford’s Meijer for tax abatements - News - Rockford Register Star - Rockford, IL
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