Business in Joliet
Joliet is an ideal place to conduct business. Its convenient location, nearby major markets, and excellent transportation systems help to maintain a steady stream of business into the area. A highly skilled labor force, established corporations, supportive government, and new development opportunities are just a few of the advantages of doing business here.
Leveraging its physical location and progressive vision, Joliet’s business leaders are continuing to work hard to develop the city as a business leader. City Center serves as the bustling hub of Joliet, one of Illinois’ fastest growing cities. Fast becoming the heart of both social and business activities, City Center is a prime location for professional firms, cultural attractions, and events.
The Joliet City Center Development Plan was created to capitalize on Joliet’s assets, including Bicentennial Park on the riverfront and significant buildings like the historic Rialto Square Theatre. The Plan focuses on the need for a major downtown entertainment attraction and also creates common streetscapes and visible gateways into the City Center. Many downtown commercial structures have been renovated and the city has enjoyed over $225 million in new construction, developing City Center into an exciting urban entertainment destination. Construction has been completed on the Harrah’s Casino Pavilion, riverwalk promenades, the Freedom Court Building, a wing extension of the Joliet Public Library, and the new $8 million Joliet Area Historical Museum. Other planned facilities include the Gaslight Marketplace and Fashion Row theme shopping complexes and Harrah’s Las Vegas-style gaming and convention center expansion. As a result of such exciting and attractive improvements, renewed interest in downtown residential development has occurred.
The Des Plaines River Valley Enterprise Zone was created in 1983 and offers several financial incentives to attract commercial and industrial investment, including 10-year property tax abatement on all real improvements; state and local sales tax exemption on building materials; waiver of building, zoning, and inspection fees; waiver or reduction of industrial revenue bond issuer fee; employment services, job training programs, and on-the-job training grants; and an incubator program for new start-up companies. The State of Illinois offers additional tax incentives through the Enterprise Zone.
In addition, Joliet has established a Tax Increment Finance (TIF) District for the City Center area. Since 2000, over $500 million has been invested in new construction to develop Joliet’s new City Center into the Midwest’s most exciting urban entertainment destination. Joliet offers prime real estate ready for development. Most properties are within walking distance from Metra commuter rail service, and retail and development grants are available to new and expanding businesses.
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