Economic Development Resources


Business Resources


CP504/SBA 504 Loans

CP 504 Logo

CP 504 is a local community not for profit business located in Mokena.  As a certified development company, CP 504 is certified by the SBA to administer the SBA 504 loan program.

Illinois Innovation Network

IL Tech Innovation Network Image

Whether you need people involved in start up and entrepreneur businesses or finance, legal or consulting advice, this Network offers assistance.

Illinois Small Business/Entrepreneurship Assistance

IL Dept of Econ Opp

A clearinghouse of information is available on starting a small business and a one-stop shop for all things startup.  Your road to business ownership begins here.

U.S. Small Business Administration

The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

Energy Efficiency                    Energy Savings

ComEd Smart Ideas for Business

ComEd offers programs to save money and earn incentives for businesses.  Several areas where savings can be realized are found through this link.

Illinois Department of Commerce and Economic Opportunity Office of Energy and Recycling

The Illinois Office of Energy & Recycling supports economic development and job creation through a variety of programs and services in the areas of energy efficiency, renewable energy, recycling, and alternative transportation. Programs demonstrate that economic development, sustainable energy, recycling practices, and environmental protection go hand in hand.

Nicor Rebates and More

Refer to Nicor's website for energy efficiency assessments, rebates, loans, custom incentives and free products.

Financing Tools

IFA's Bond and Loan Programs

Illinois-based businesses can receive guidance in choosing the right program to assist with your fixed asset purchases and capital financing needs such as new equipment, upgrades, or expansion of your business.  Expertise is provided in public-private partnerships and infrastructure financing.

Illinois Finance Authority (IFA) The Illinois Finance Authority (IFA) provides access to low-cost capital to public and private institutions that are aligned with our mission of fostering economic development, creating and retaining jobs, and improving quality of life for Illinois residents. Specific criteria to fund programs and projects funded can be found on the website.

Participation Loan Program (PLP)

There are five loan programs that are designed to work through banks and other conventional lending institutions.  The link includes a fact sheet, a list of participating banks, and information for lenders.


Small Business Loan Programs

Access to capital and locating funding are often the most difficult tasks for any company seeking to develop their products and services and grow their company.  The Illinois Department of Commerce can work with your business to identify and secure financing opportunities and build a network of financial support that will meet your present needs and prepare you for future growth.

U.S. Small Business Administration Loan Programs

SBA offers a variety of loan programs for very specific purposes, such as 7(a), CDC/504 and Microloan. Take some time to study the programs included in this link, to see if you qualify to participate.




Tax Credits & Incentives


High Impact Business (HIB)

The HIB program is designed to encourage large-scale economic development activities, by providing tax incentives (similar to those offered within an enterprise zone) to companies that propose to make a substantial capital investment in operations and will create or retain above average number of jobs. Businesses may qualify for: investment tax credits, a state sales tax exemption on building materials, an exemption from state sales tax on utilities, a state sales tax exemption on purchases of personal property used or consumed in the manufacturing process or in the operation of a pollution control facility. Further details are available on the website.

Illinois Incentives and Tax Assistance

Illinois offers a competitive range of incentives for locating and expanding your business, including tax credits and exemptions that encourage business growth and job creation.  Additional grant programs and access to loans can assist your business with working capital, machinery and equipment, land acquisition, building construction and public infrastructure improvements.  And for those looking to invest in Illinois companies, early stage investment incentives are also available.

Will County Incentive Program

There are several incentive programs described on this website, including but not limited to the State of Illinois EDGE Tax Credit Program, State Employee Training Investment Program, and Will County Tax Abatement.



Workforce Development


WIOA (Workforce Innovation and Opportunity) Works in IL

A company in Illinois can best develop its talent pipeline to remain competitive by partnering with the preferred training and education suppliers available through WIOA.  These training and education suppliers are developing Illinois’ workforce.

For students and other job seekers, WIOA provides individuals with a roadmap showing a pathway to employment: what skills an Illinois business needs and how to acquire those skills. Services include education, training, and support services to find a living wage job. 

Workforce Investment Board of Will County

The Board provides numerous employment, training, and educational services, to develop quality employees for employers and to develop quality opportunities for employees.  Under the "Businesses" menu on the website's home page, a comprehensive resource guide for businesses is found.  This Guide in part includes information on workforce credits as well as finding and retraining your workforce.  Other resources are for Will County employment data and occupational training providers.



      Staff for Econ. Dev.

      Robin Ellis

      Asst. Village Admin/ Community Development Director

      Nancy Dye
      Economic Development Coordinator
      (815) 462-6416
      Resource Types

      Contact Us
      Village of New Lenox
      1 Veterans Parkway
      New Lenox, Illinois 60451
      Phone: (815) 462-6400
      Village Hall Hours:
      Monday - Friday 8:30 am - 5:00 pm
      Home of Proud Americans