Effingham Renews TIF Program to Support Local Business Growth

Effingham has renewed a tax increment financing program aimed at promoting growth for local businesses. The development places the program among the city’s tools for encouraging business activity and investment.

Tax increment financing, commonly called TIF, is a public financing approach used to support development in a designated area. The renewed program is tied to local business growth, but the program’s boundaries, funding details and schedule have not been stated.

What the renewal means

The renewal keeps the TIF program in place as Effingham works to support local businesses. The program’s stated purpose is to promote growth in the community.

What comes next

Businesses and residents will need details about the program’s covered area, eligibility rules and implementation schedule to understand how the renewal will work. Those steps will determine how the program is applied locally.