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Economic Development - City of Aledo, Illinois

Ideally positioned near the Quad Cities, with easy access to major highways and the Mississippi river, Aledo offers great opportunities for new business development. The City of Aledo is committed to creating a collaborative business environment; one that promotes opportunity for business growth and development, while strengthening our community through additional employment opportunities and a greater selection of businesses and services.
 

Contact Information
Chris Hagloch, Mayor                               
City Hall120 N. College Ave.                 
Aledo, IL  61231                                        
(309) 582-7241                                         
                    

Erin Knackstedt, City Administrator
City Hall120 N. College Ave.
Aledo, IL 61231
(309) 582-7241 ext. 207
This email address is being protected from spambots. You need JavaScript enabled to view it.        

Purpose
The primary purpose of the City of Aledo’s Economic Development Department centers on the following areas:
•    Retention and recruitment of new industrial and commercial  businesses
•    Job retention and creation
•    Increase local tax revenues through expansion of the community’s economic base
•    Coordination of business support services

Responsibilities
This Economic Development Department is responsible for a broad array of economic development activities including:
•    Development of a comprehensive plan to grow and strengthen the community of Aledo
•    Oversight of various economic incentives including the Revolving Loan Fund (RLF) and tax increment financing (TIF)
•    Promotion of available commercial and industrial space to the business and real estate communities
•    Partner with various state agencies, regional business organizations and educational institutions to coordinate available funding, training and business services to insure that the local business community has access to resources that support continued growth and development.

Business Development Resources
Doing Business in Aledo
If you are interested in opening a business in the City of Aledo, there are several sources you can reference to assist you in navigating the various steps necessary in opening a new business.  
•    IEN Business Information Center of IL  www.ienconnect.com.   
•    SCORE www.quadcitiesscore.org

Demographic Data and Community Profile
Available Sites and Buildings
Economic Incentives for Commercial Development
•    Revolving Loan Fund (RLF) – is a federally capitalized loan fund that provides “gap loans” to businesses that are creating or retaining jobs. Applicants must demonstrate an inability to obtain full funding through the private sector. This program is available to businesses currently located in or planning to expand in the Aledo area. Start-up businesses are also eligible for financing.

For further information and details about the Mercer-Muscatine County Revolving Loan Fund Program, contact Erin Knackstedt, City Administrator, (309-582-7241), or via email at This email address is being protected from spambots. You need JavaScript enabled to view it.; or Donna A. Moritz, Project Manager Bi-State Regional Commission (309-793-6302), or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

•    Tax Increment Financing (TIF) District – Aledo’s TIF District includes most of the Aledo business district along Route 17 and the entire downtown district. TIF grants and loans are available for various commercial building projects within the TIF District. Businesses are eligible for 50-50 grants (to a maximum of $7,500) for building façade improvements and installation of awnings.

For further information and details about the Tax Increment Financing (TIF) program, contact Erin Knackstedt, City Administrator, (309-582-7241), or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Additional Business Resources
Local
•    Aledo Main Street – www.aledomainstreet.com
•    Mercer County – www.mercercountyil.org

Regional
•    Bi-State Regional Commission  - www.bistateonline.org
•    Quad Cities Chamber of Commerce – www.quadcitychamber.com
•    IL Small Business Development Center  Black Hawk College– www.bhc.edu
•    IL Small Business Development Center  Western IL Univ– www.wiubdc.org

State / Federal Government
•    Small Business Administration – www.sba.gov
•    SCORE – www.quadcitiesscore.org
•    IRS – www.irs.gov
•    State of Illinois – www.illinois.gov
•    IL Department of Revenue – www.revenue.state.il.us
•    IL Dept of Commerce & Economic Opportunity – www.comerce.state.il.us
•    University of IL Extension – web.extension.uiuc.edu