Sales Tax Rebates
The City Council, in cooperation with the Business and Economic Development Advisory Group (BEDAG), developed a sales tax rebate program to facilitate business attraction and retention. New businesses making minimum capital investments of $250,000 and generating a minimum of $1,000,000 in sales tax dollars annually may be eligible for rebates. Existing businesses investing a minimum of $75,000 in capital improvements and generating a minimum of $1,000,000 in sales tax dollars annually may be eligible for rebates. Prospective applicants are encouraged to thoroughly read the Sales Tax Rebate Guidelines and Application. All applicants are required to submit a completed application along with a non-refundable $5,000 application fee to the Office of Business Development for review and processing. Applications will be reviewed by the City Council for final approval. For more information, please contact Carolyn Hersch, Business Development Manager, at 847.926.1027
Financial Aid for Retailers and Restaurants Grant Program
The City of Highland Park has announced a new matching grant program to assist small businesses in weathering the economic impacts of the coronavirus pandemic in light of challenges posed by winter weather and a resurgence of COVID-19. The Financial Assistance for Retailers and Restaurants (FARR) Grant Program designates $255,000 in funding to support COVID-19-related operational costs incurred by restaurants and retail establishments to provide for a safe environment for customers and staff in compliance with state and federal public health guidelines. The new program will accept applications beginning today, Tuesday, October 27, from qualifying small businesses located and operating within a commercial building in Highland Park with a net worth of less than $2 million and generating less than an average of $200,000 in profit per year for two years after taxes. More information is available here.
FARR Grant Program Application
Small Business Facade Improvement Program
The City of Highland Park recognizes the importance of independent merchants to the City’s image and tax base. The goal of the Small Business Facade Improvement Program (SBFIP) is to provide both assistance and incentive to property owners and local businesses to improve the look and functionality of their property and place of business. The SBFIP is available for use by small business operators and commercial property owners citywide. For more information, please contact Carolyn Hersch, Business Development Manager, at 847.926.1027.