- Economic Development
The Village of Fox Lake established its Economic Development program to reinforce the importance of economic health to our overall quality of life, and to demonstrate the Village's strong support of business and economic sustainability. The Village’s economic development strategies promote innovation, competitiveness and entrepreneurship in Fox Lake. Economic Development staff works with other Village departments and partner organizations to support economic sustainability, foster the retention and expansion of existing businesses and to enhance business services.
Economic Development programming and services are listed below:
• Information and connections to resources for startups and growing businesses
• Assistance with business relocation and expansion options
• Customized services to support local businesses
• Input and analysis of development concepts and feasibility
• Business outreach visits
Business Incentive Programs
Fox Lake has five Tax Increment Financing Districts and two Business Development Districts (TIF)that encompass the majority of the commercial corridors. TIF provides a governmental incentive to private developers or companies to stimulate new investment and job creation and/or retention. Property tax revenue is generated as a result of the new investment and the incremental tax revenues are used to pay for the incentives.
The two Business Development Districts allow the for a 1% sales tax to be reimbursed to businesses, new and existing, for expansion, exterior façade improvements, and interior buildouts.
Tax Increment Financing Districts
Route 12 TIF District
Business Development DistrictsFox Lake has two Business Development Districts that assist with incentivizing new businesses and existing business who are looking to expand.
Central Business Development District Plan and Boundaries
South Business Development District Plan and Boundaries
Facade Improvement Program
The Facade Improvement Program provides funding assistance for new and existing businesses to improve the exterior of their building facades. Click the link below to learn more about the program.
Façade Improvement Program
Economic Development Partners
• Fox Lake, Richmond, Spring Grove Area Chamber of Commerce
• College of Lake County Illinois Small Business Development & International Trade Center
An important point to remember is Fox Lake's proximity to major airports and the flying alternatives they offer.
O'Hare Airport - Chicago
Midway Airport - Chicago
Mitchell International - Milwaukee
Dane County Regional airport - Madison
Chicago Rockford International Airport - Rockford