The City of Peoria is continuing to re-evaluate incentives used to entice business investment. It already has incentives on the books, including TIF rebates, revolving loan funds, and enterprise zones. Assistant City Manager Chris Setti says staff are looking at guidelines to qualify for incentives, like how many jobs are created and the size of the investment:
“To test what some of our assumptions are about what are good incentives, what are bad incentives, or what are good qualifications, if they’re too big, too little. So just kind of getting some external validation from the community.”
Last week the City Council expressed the desire to see more input from labor, minority business and other community groups. Setti says that could take the form of a community committee for in-depth feedback.