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Pro-business.  Pro-development.  The Village of Streamwood casts itself in the non-traditional role of facilitator rather than simply a regulator.  It’s an attitude that drives the Village's Development Department.  Developers continually commend the Village for its streamlined approvals process.

The Village also conducts an ongoing business retention program.  The Village strives to be a partner with local business. Working as partners, the Village seeks ways to keep businesses competitive.  Tax incentives, revised tax classifications or utilization of alternate revenue strategies are just a few ways in which businesses can profit and reinvest.

Read about the Tax Incentive Programs available to commercial, industrial and residential developers in Streamwood and in Cook County.   The Village is willing to consider any of these programs on a case-by-case basis. Some of these program require specific Village Board action, and some require approvals by other government agencies. We suggest you consider how these approval processes may impact your business plan.

Additional inquiries or information can be directed to the Community Development Department.  If you have any questions, please contact Jeff Harris, Assistant Community Development Director, at (630) 736-3829.

Streamwood Business Assistance Program

The Village of Streamwood is committed to helping our business community succeed! The Village initiated a new Business Assistance Program to help businesses make improvements to their property including new signage, landscaping, or renovations.

Assistance Program and Application

The business assistance program offers grants, up to a maximum of $25,000, for sales tax producing businesses uses including retail establishments and restaurants. Grants will be distributed on a reimbursement basis once projects are substantially completed. Building owners or lessees (with written consent from the building owner) are eligible to apply. The program applies to commercial properties Village-wide.

The amount of incentive granted will vary based upon the improvements made and each application will be reviewed on a case-by-case basis. All improvements must conform to the Village’s regulations including, but not limited to, the Zoning Ordinance and Building Codes, which are available online. Individual properties will be eligible for grants, regardless of who the current tenant may be, once every two Fiscal Years. The Village of Streamwood uses a calendar year budget (January-December).

Targeted Businesses

Priority will be given to those businesses generating sales tax for the Village as defined by those offering merchandise or food and beverage services to the public, the sale or providing of which is subject to sales tax (“Retail sales”), and from which the revenue derived constitutes the majority of the revenue of the business.

For information or an application, please contact Jeff Harris, Assistance Community Development Director, at (630) 736-3829.

Cook County Tax Classification and Loan Programs

These programs reduce the taxable assessment level of property under certain specific conditions. Application is made to the Cook County Assessor’s Office. Application must be made to the County prior to commencement of construction. And, the Village must support the application through adoption of a Resolution. Copies of the application are available from:

Cook County Assessor's Office - Development Incentives
118 North Clark Street - Suite 301
Chicago, Illinois 60602
(312) 603-7529

Information on application requirements to meet the Village Board’s agenda for the supporting Resolution, please contact:

Village of Streamwood
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 736-3832
Contact: Sharon Caddigan, Village Manager

TIF Districts, Commercial Business Districts and Shared Sales Tax Revenue Programs

These programs provide opportunities for the municipality to work with a developer to make a project happen. The community can provide initial funding for a project that is expected to generate substantial tax revenue. All require formal Village Board action. For information on application requirements to meet the Village Board’s agenda, please contact:

Streamwood Finance Department
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 736-3815
Contact: Josh Peacock, Director

Industrial Revenue Bonds and Special Service Areas

Specific bond issuance or tax generation program aimed at recapturing expended costs to pay for infrastructure improvements. Both programs require formal Board action. For information on application requirements to meet the Village Board’s agenda, please contact:

Streamwood Finance Department
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 837-0215
Contact: Josh Peacock, Director

Tax Incentives

Click here to read about our Tax Incentives.