Du Quoin prepared to rebate some taxes to local industry
To show their appreciation for the decision to stay — and expand — its business in Du Quoin, city leaders are prepared to enter into a tax rebate agreement with Illinois MPP, a manufacturer in the Du Quoin Industrial Park on the north side.<br />The plating company, located on North Hickory Street, expanded last year to add a warehouse of about 6,000 square feet. The company came to Du Quoin in 2001.<br />The addition is expected to add to the property taxes the business already pays. As a result, the city is prepared to rebate half of the additional taxes the warehouse generates each year — until, over time, MPP has been rebated $25,000.<br />The resolution authorizing this agreement is at present on public display at Du Quoin City Hall and is expected to be approved by the city council at its next meeting.<br />The addition cost MPP well over $100,000 to build, said Du Quoin’s economic development expert Jeff Ashauer, adding the company employs about 40 people.<br />The other half of the new taxes generated by the warehouse addition goes into the account for Tax Increment Financing district #2, which includes the industrial park. The TIF district was set up to encourage business to come to Du Quoin and is one of three districts the city currently is operating.