Cook County backs property tax incentives for 3 suburban businesses
Cook County commissioners last week approved property tax incentives to assist with business developments in Arlington Heights, Schaumburg and Wheeling.
The 6b incentives reduce the rate of property tax assessments on the sites to 10% for 10 years, 15% in the 11th year and 20% in the 12th year. After that, assessments will return to the normal rate of 25%. The incentives are designed to help grow industrial manufacturing, fabrication, distribution or warehouse sector businesses.
Witron Integrated Logistics Inc., 722 Ventura Drive, in Arlington Heights. is receiving the incentive for a planned expansion of its industrial facility. The company specializes in the planning and realization of highly automated warehouse and picking systems.
Galaxy Underground Inc., a sewer and water construction and installation company, is receiving the incentive to occupy a site at 1075 Morse Ave. in Schaumburg
160 Marquardt LLC is receiving the incentive to move a related entity called Edge One Medical Inc. to 160 Marquardt Drive in Wheeling. The facility will be used for testing, developing, manufacturing, consulting, warehousing and distribution of products used in the medical device ad pharmaceutical industries.