Economic Development
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Contact Info
Craig Neuhaus
618-580-4791
304 W Main St
Staunton, IL 62088
Now is the time to invest in the City of Staunton. Conveniently located in the St. Louis Metro area, along Interstate 55 and Illinois Route 4, Staunton is just 25 minutes north of the downtown St. Louis and just 50 minutes from Springfield, Illinois the capital of the State. On average, thoroughfares shuttle greater than 27,500 vehicles a day through Staunton. Experience the community's high quality of life and prosperous economy. An available and skilled workforce is ready to meet the demand in a variety of business sectors.
Spotlight on Staunton, IL
Timeline: Staunton became organized as a village in 1846, and was recognized as a city in 1898.
Population: 5,200
Location: The City of Staunton is in Macoupin County and in the Southwest region of Illinois.
Major Highways: Downtown Staunton is served by Historic Route 66 and lies just off of Interstate 55 and Illinois Route 4.
Government: Mayor/Council
Infrastructure: New Water Plant/Upgraded Sewer Plant- plenty of capacity
Amenities: Great parks, great community hospital, a distinguished School District, Country Club, historic downtown and many restaurants and hotels. The City also boasts an extremely low crime rate.
Taxes: One of the lowest property taxes in Southwestern Illinois
Workforce: Highly skilled rural workforce that draws from a population center of over 500,000 people.
Development Sites: The City has attractive properties available for development off Interstate 55 and throughout downtown. Most utilities are already in place
Incentives: There are a number of incentives that could be utilized to attract the right project.
Incentives
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Please understand the following:
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The information we provide to you is based on assumptions and does not constitute a guarantee by the State of Illinois, Macoupin County, or the City of Staunton.
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The type of incentives and amount are determined on a project by project basis. Not all projects will qualify for certain incentives.
An explanation of the Illinois Tax System
Personal & Corporate Income Taxes
Income earned in Illinois or received by Illinois residents is taxed at 3%, the lowest in the Country.
Advantages: There are no local personal income taxes in Illinois.
Illinois does NOT tax
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Personal Property
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Machinery
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Inventory
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Retirement income
Corporate Income Taxes
Corporate income apportioned to Illinois is taxed at 7.3%, which includes:
4.8% state income tax and a 2.5 percent personal property replacement tax.
4.8%
+2.5%
= 7.3%
A unitary group of corporations files a combined return in Illinois.
Advantages:
The 2.5% replacement tax generates a credit equivalent to deducting the replacement tax before paying the regular corporate income tax
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Income apportionment is based solely on in-state sales.
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Corporations with more than 80% of their payroll and property outside the U.S. are not included in combined returns. Corporations with unique apportionment formulas are not included in combined returns.
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Credits include a 0.5 percent credit for investment in mining, manufacturing or retailing, plus an additional 0.5% if employment increases over 1%; a 1.6% training expense tax credit; a 6.5% Research and Development credit; and an additional 0.5% investment tax credit plus a $500 jobs tax credit in Illinois Enterprise Zones. The new Illinois EDGE program provides a credit equal to 3% of the wages of a new or expanding business' added employees.
Location One
Location One is a web-based tool that markets available sites and buildings and provides community profiles.
To link to available sites and buildings located in Staunton click on the links below: