Village Profile Home Page | About our Company | Sales Opportunities | Community eStore | vpmobile.us

Orland Park Economic Development

Among incentives designed to attract new industry and development is a $1.5 million revolving loan fund that provides businesses with low-interest loans for new development or expansion of existing facilities.

The interest rate is half the prime rate. Eligible applications of the loan are land acquisition, construction or expansion, and purchase of new equipment. Loans are made for up to 25 percent of the cost of a project and are limited to a maximum of $400,000. More than 15 local firms have received loans since the program commenced in 1987.

The Revolving Loan Fund is especially attractive to businesses when combined with Cook County’s various property tax incentives.

Its Class 6b incentive, designed for industrial firms, reduces property tax assessment levels from 36 percent to 16 percent for a period of 10 years. The tax then goes to 23 percent in the 11th year, to 30 percent in year 12, then to 36 in year 13. Under Class 7a and 7b, the same incentive is available for commercial developments that are not economically feasible without the incentive.

Communication is emphasized in Orland Park’s Economic Development Strategy. Periodically, the Mayor and Board of Trustees invite business people, bankers, corporate real estate brokers, and developers to an event where the business advantages offered by Orland Park are carefully detailed.

All-inclusive incentive packets of marketing materials are prepared in house and distributed to attendees, as well. Economic Development staff, through the ongoing Business Retention Program, frequently meets with and tours the facilities of Orland Park’s business owners to maintain open lines of communication between the Village and the business community.

Orland Park’s proximity to Moraine Valley Community College is another valuable asset to enterprises interested in establishing in the Village; this is due in part to the college’s variety of business assistance services through its varied development, testing and technical assistance programs. Governor’s State University, Saint Xavier University, ITT Technical Institute, as well as Robert Morris College and Moraine Valley Community College all have additional programs dedicated to assisting the business community with training and expansion.

Orland Park’s approach to economic development is a regional approach, as the Mayor and Board of Trustees recognize that area growth benefits the community almost as much as its own growth. Therefore, the Village actively cooperates with other municipalities to create a positive climate and actively participates in numerous regional organizations.