What is CIEDA?
About the Central Illinois Economic
Development Authority
The Central Illinois Economic Development Authority (CIEDA) is a regional economic development authority that provides tax-exempt bond financing for qualifying projects that support economic growth and community development. Through partnerships with local governments, financial institutions, and organizations, CIEDA helps reduce borrowing costs and expand opportunities for development throughout central Illinois.
CIEDA serves the Illinois counties of Calhoun, Christian, DeWitt, Greene, Jersey, Logan, Macon, Macoupin, Menard, Montgomery, and Sangamon, offering tax-exempt bond financing that enables eligible organizations and businesses to access lower-cost capital for projects that strengthen local economies.
CIEDA is one of ten regional economic development authorities in Illinois. Collectively, these authorities serve 91 of the state’s 102 counties and have been supporting investment, job creation, and community development across Illinois for more than two decades.
Types of Bonds?
DOUBLE TAX-EXEMPT status to a manufacturing company to finance the acquisition of fixed assets including land, buildings, machinery, and equipment.
DOUBLE TAX-EXEMPT status to a Developer, private for-profit or not-for-profit to finance low-income or senior housing projects.
DOUBLE TAX-EXEMPT status on to a NFP 501(c) (3) company to finance the acquisition of fixed assets including land, buildings, machinery and equipment.
DOUBLE Tax-Exempt status on to a public school district to finance a building project or other capital project. Interest on the bonds is not subject to state or federal income taxes.
Exempt facilities include Docks and Wharfs. The project can include the acquisition of fixed assets including land, buildings, and equipment.
Program allows DOUBLE tax-exempt status to finance the acquisition of fixed assets including land, buildings, machinery and equipment.
Economy Data
Common Industries within the CIEDA Territory
Agribusiness and Agriculture
Agribusiness and Agriculture make up a considerate portion of economic activity throughout the region.
State Government
State Government operations contribute a considerable portion of the employed workforce in this area.
Energy Production
Renewable energy has seen an emergence in this territory with the conversion of coal fired generation over into wind and solar sources.
CIEDA Improves Area Workforce by Supporting New Infrastructure and Job Opportunities
Past Projects
Bond Financing
Blackburn College is planning capital improvements to finance a Two Mega Watt solar photovoltaic ground system, and improvements of their athletic facilities and Jewell Hall. The total amount of the bond will be $4,000,000.
Blackburn College is planning to capital improvements and refunding of an existing bond in the total amount of $5,000,000. The College did a $3,800,0000 bond through the Illinois Finance Authority (IFA) not for profit pool.
The Community Health Improvement Center (CHIC) is planning the construction of a new 29,125 square foot facility in Wabash Crossing in Decatur, Illinois. The total project is $5.5 million and will create and retain 78 jobs.