The Beardstown Enterprise Zone encourages development in specified parcels of land through tax and regulatory relief. This type of special economic incentive allows business entrepreneurs and investors to launch businesses in the area. The Enterprise Zone is where companies can locate free of certain local, state, and federal taxes and restrictions.
The Tax Increment Financing Zone, or TIF Zone, is an area of parcels for redevelopment and community improvement projects. Tax Increment Finance is a public financing method which is used for funding community development projects.