Potential Rockford data center would not get financial incentives, city says
The City of Rockford, Illinois, is proposing a new TIF district that would specifically exclude data centers from receiving financial incentives, in response to community criticism. This local proposal aligns with Illinois Governor J.B. Pritzker's recent announcement to suspend state-level tax breaks for data centers starting July 1st.
The City of Rockford, Illinois, is considering a change to a proposal for a new Tax Increment Financing (TIF) district, located in South Rockford. This amendment, set to be discussed at the June 22nd City Council meeting, would prevent a potential data center development within the district from receiving TIF assistance.
The city's decision comes in response to significant community criticism regarding the potential data center and its eligibility for financial incentives. The move also follows a recent statewide announcement by Illinois Governor J.B. Pritzker, who declared that tax breaks for data centers would be suspended starting July 1st.
Officials stated that residents do not wish for the TIF to incentivize a data center. The discussion, according to the report, should focus on what a data center could bring to the community to benefit residents, rather than what incentives it would receive.