Local & State Incentives

Companies that consider relocating, or expanding in Racine County have access to a diverse range of incentives to encourage business growth, investment and job creation. Racine County Economic Corporation (RCEDC) works with companies interested in a Racine County location to access incentive assistance to make their project a success in our community.

Availability of incentives is determined by:

  • Project location
  • Capital investment
  • Job creation

For more information and assistance: 

    LOCAL INCENTIVES

    Tax Increment Financing (TIF)

    For projects located in a Tax Increment District (TID), the municipality may choose to provide an incentive equal to a portion of the taxable property value added as a result of a project. Job creation and capital investment are considered by the community when determining level of assistance. RCEDC’s staff can assist you in determining if sites under consideration are located in a TID.

    Tax Reinvestment Program (TRIP)

    For projects located outside of a TID, the Tax Reinvestment Program (TRIP) may be used to provide an incentive equal to the municipal portion of the taxable property value added as a result of a project. Job creation and capital investment are considered by the community when determining level of assistance.

    Low Interest Financing

    Business Lending Partners (BLP), a division of RCEDC, specializes in processing and servicing a variety of loan programs in Racine County. BLP is committed to business growth and community development by providing alternative financing options.

    State Corporate Income Tax Rate Comparison

    Wisconsin’s Manufacturing and Agriculture Credit essentially eliminates the tax on qualified income from manufacturing activity in the state by providing a 7.5% credit on corporate income*. The current state tax on corporate income is 7.9%. This credit is direct and non-competitive. Note: The credit is a percentage of “eligible qualified production activities income.”

    CORP. TAX1
    SALES TAX2
    Wisconsin

    WISCONSIN

    0.40%*
    5.00%
    Illinois

    Illinois

    9.50%
    6.25%
    Indiana

    Indiana

    5.50%
    7.00%
    Michigan

    Michigan

    6.00%
    6.00%

    Minnesota

    9.80%
    6.88%
    Sources: (1)Tax Foundation, (2) State Sales Tax Institute

    Development Tax Credits

    Business Development Tax Credits supports job creation, capital investment, training and the location or retention of corporate headquarters by providing companies with refundable tax credits that can help to reduce their Wisconsin state income tax liability or provide a refund. RCEDC provides technical assistance to existing and companies relocating to Racine County to complete applications for business development tax credits. The program is administered by the Wisconsin Economic Development Corporation.

    Recent Business Lending Partners News

    Trene McCaskill, owner of H.E.R. Valley - a self-care and revitalization service in Racine - will celebrate the grand opening of her new location at 904 State St. on July 9th at 11:45 a.m.

    Racine, WI – Lisa Ramirez opened Blueberry Hilltop Cafe on October 2023 with the goal of providing home-cooked meals in a family-friendly atmosphere.

    Sturtevant, WI – Bolstered by the acquisition of three loans from RCEDC and the receipt of a Sturtevant grant, M&J Krueger Trucking has been able to sustain growth and development at its current location.

    RCEDC and its finance team, Business Lending Partners (BLP), in partnership with Fox Communities Credit Union, has assembled an unparalleled lineup of industry experts, self-made entrepreneurs, and business leaders to deliver an event tailored to business owners, the commercial lending community and real estate professionals. Food included.

    Join RCEDC as we host this food and business networking event, where local business owners share their stories about how they navigated the path to success.

    Trene McCaskill, owner of H.E.R. Valley - a self-care and revitalization service in Racine - will celebrate the grand opening of her new location at 904 State St. on July 9th at 11:45 a.m.

    To help encourage business improvement, retention and attraction, the Village of Sturtevant created a new program with favorable loan terms - little to no equity requirement, low-interest, and principal deferrals.

    EMPOWERING SMALL BUSINESSES A Business Growth Solutions Event RCEDC and its lending staff, Business Lending Partners (BLP), in partnership with Community State Bank, assembled a remarkable lineup of entrepreneurs, small business owners, and financial professionals to share relevant insights on…

    Raising capital to grow your business can be challenging. Should you use debt? What programs are available through RCEDC? Are there more options? Join RCEDC as we explore the opportunities from venture capital to determine when this solution is the…

    This year, Jellystone Resort in Caledonia was named the "Resort of the Year" by the Jellystone franchise. This award is given to one location per year and the Jellystone franchise is especially happy about the expansion and projects Jellystone Caledonia has completed the past couple of years to aid in the client's demands for the park.

    Dan Gallagher started Mybread Bakery with a mission to provide gluten-free breads that are safe for those with food allergies, but not compromise taste or quality. Three years later, Gallagher relocated from Chicago to Racine - with help from the Racine County Economic Development Corporation - and expanded operations by renting a larger space, purchasing better machinery, and hiring additional employees.

    In this edition of the Quarterly BLP Newsletter, updates are now available for the new SBA Loan refinance opportunities for existing SBA Loans, a new City of Racine Road Construction Loan Program is promoted for businesses affected by road construction, and to meet the demand of loan applications and closings, BLP is looking to hire a new Loan Closer and Credit Analyst.

    INVEST IN RCEDC

    RCEDC’s mission is to grow Racine County’s property tax base and by supporting business expansions, provide employment opportunities to Racine County residents. In 2023, RCEDC staff were able to facilitate 64 projects that included comprehensive site selection, loans, grants, and incentives resulting in $1.36 billion in private investment and $1.05 billion in new construction.

      INVESTMENT LEVELS

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