The City of Janesville works with companies to pursue funding/incentives using the Wisconsin Economic Development Corporation's (WEDC) programs that are appropriate for their projects. Funding under these programs can be further explored by visiting the WEDC's Programs page. Please contact the Economic Development department at (608) 755-3059 for more information.

Janesville Business Incentives

Tax Incremental Finance (TIF)

What is it?

TIF is a state regulated finance tool municipalities may use to finance infrastructure, encourage development or redevelopment projects that “but for” the financing tool, would not otherwise take place.  

Why use it?

TIF not only helps expand a municipality’s tax base, but also aids business expansion, retention, and encourages orderly development or redevelopment within the city.  Improvements in the area must significantly enhance the overall value of real property within the district.  Project costs must relate directly to eliminating blight, rehabilitation, or conservation of the area, or promote industrial development.  TID incentives encourage private investment and may include land acquisition and/or building rehabilitation/construction.  In return, the developer guarantees an assessed property value and/or the retention or creation of additional jobs over a period of time.

How does it work?

When a Tax Incremental District (TID) is created, the property tax base for all taxing entities (the municipality, schools, county, and technical colleges) is held constant for the life of the TID. Any new increment created by development or redevelopment within the TID is collected by the TID fund and used for eligible improvement projects. The TID is dissolved once the projects within the project plan are complete, and there is a positive balance and the bonds for the projects are paid off.  The positive balance and the value of the tax base is then distributed proportionally to the taxing entities.

Location Map of Janesville Tax Incremental Districts (TIDs) - 2024

City of Janesville's Tax Increment Financing Application

The City of Janesville actively uses TIF with the intention of improving the local economy.  Incentives are based on two operating guidelines: (1) for new construction either on a green field site or the expansion of an existing facility with the resulting new tax increment or (2) for the leasing of existing manufacturing or distribution space. Note: TIF incentive proposals are project specific and will include additional considerations involving the number and quality of jobs created, jobs retained, type of business etc. Additionally, all TIF incentive proposals are subject to final approval by the City Council during an open session public meeting. Since January 2015, the City Council has approved fifty-one (51) TIF agreements, creating 16.5 million square feet of new and redeveloped space; $316 million in new value; and 1,424 new jobs.

For more information, please contact the Economic Development Office at (608) 755-3059.

Wisconsin Economic Development:

WI Economic Development Toolbox Handbook

The Wisconsin Economic Development Institute – established to conduct research to increase the effectiveness of economic development across the state – is excited to unveil its latest project. The Handbook is a catalog and overview of state economic and community development programs in Wisconsin.

Targeted industries include:

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