Peoples Bank gives $10k to economic development
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Peoples Bank & Trust recently contributed $10,000 to the Douglas County Economic Development Corporation to expand and modify the Douglas County Enterprise Zone. Dale Boyer, Community Bank President, and Fredy Moreno, AVP Business Banking, presented the check to Brian Moody, Executive Director of Douglas County Economic Development and Stepheny McMahon, Assistant Director.
Douglas County Economic Development, Inc. (DCEDC) exists for the civic purpose to promote and encourage expansion and retention of business and industry within the area of Douglas County, Illinois. DCEDC also provides guidance and advice to business, local government and community groups regarding economic and community development activities. DCEDC arranges coordination of local and state resources to existing business. In addition, it provides business prospects with building and site information to assist in securing resources necessary for economic development.
Douglas County has a large enterprise zone that encompasses targeted properties throughout our rural communities. The Enterprise Zone offers incentives to help businesses who are building new or making permanent improvements to their property. Enterprise Zones are designed to encourage ongoing business investment. The main benefits of an eligible enterprise zone project include sales tax exemption on building materials and property tax abatement on improvements.
“Economic development in Douglas County is of utmost importance for the future of our communities. The Enterprise Zone and the incentives that it offers to both existing businesses and prospective businesses are a great opportunity for commercial growth in our area. The Enterprise Zone program encourages businesses to stay in Douglas County and to reinvest and expand here versus opting to take important jobs and tax revenues elsewhere,” said Boyer.
“We are grateful for Peoples Bank and Trust’s strong support for economic development in Douglas County. We appreciate their great partnership with our organization and we are ecstatic about their level of financial support. This contribution will allow us to pursue improvements to our Douglas County Enterprise Zone and our goal of growing the available housing market and tax base of the county. We want to thank Peoples Bank and Trust for their commitment to us and to expand economic development in Douglas County,” said Moody.