Tax Increment Financing In Southwestern Illinois

By ALAN J. ORTBALS    New life is being breathed into the long-dormant Discovery Business Park in Dupo, according to Keith Moran, president of Moran Economic Development. Moran works with numerous municipalities in Southern Illinois to assist them with their economic development needs.    A decade ago, the development arm of St. Louis builder Clayco had optioned…

By ALAN J. ORTBALS    Last year Collinsville added its newest TIF district, the Southwest Corridors TIF which encompasses land along Collinsville, Bluff and St. Louis Roads. It was created to provide infrastructure and public improvements to support existing development, encourage new private investment, catalyze new private commercial and industrial development and promote property improvements. It’s…

By ALAN J. ORTBALS    Downtown revitalization remains a top priority for the city of Alton. Although it has received more than $100 million dollars of investment since the TIF district was created in 1994, it’s still an area in transition.    “Our local economy is still in the process of transforming from our industrial past to…

By ALAN J. ORTBALS    In the late 1990s I was the executive director of the Southwestern Illinois Development Authority, a regional economic development agency that assisted development across Madison and St. Clair counties.    The Owens-Illinois Glass Co. was one of Alton’s oldest manufacturers. From its beginnings over a century ago, the plant grew to employ…