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Business Incentive Programs

Businesses can qualify for a variety of incentives when they open, relocate and expand job opportunities in Hampshire. Incentives are also available at the local, state and federal level. We invite your business to sit down with our Economic Development Committee to examine the many opportunities available when you choose to locate or expand your business in Hampshire.

The following are just some of the incentive options that are available:

Tax Increment Financing

The Village of Hampshire currently has one Tax Increment Financing (TIF) district. The Village’s TIF district, named the Central Area Redevelopment Project, covers approximately 107 acres in the downtown area, as well as adjacent blocks.

Current District: TIF Redevelopment Plan and Project.

For those interested in applying for TIF funds, please view the Hampshire TIF Policies and Application.

Additional information on TIF districts can be found at Illinois-TIF.com.

Facade Improvement Program

The Facade Improvement Program is a reimbursement / matching grant program budgeted and administered by the Village of Hampshire to encourage the rehabilitation and restoration of the exterior of buildings in the downtown area. Up to 75% of approved work may be reimbursable by the Village. 

For those interested in applying for the Façade Improvement Program, please view the Façade Improvement Program Packet, which contains all necessary information and forms.

Resource Bank Facade Improvement Loan Program