The City of Metropolis Revolving Loan Fund

The City of Metropolis has established a $5 million revolving loan fund to assist businesses that are creating or retaining jobs in the City. These funds can be used for land acquisition; building construction/ acquisition/renovation; machinery and equipment; and working capital. Loan funds are offered at below market, fixed interest rates and loan terms are based on the use of loan funds.

City of Metropolis Enterprise Zone

Businesses locating within the City’s enterprise zone are entitled to the following benefits:

State Incentives:

  • 0.5% enterprise zone investment tax credit granted for qualified investments in real property (in addition to existing state investment tax credits). The tax credit may be carried forward for up to 5 years.
  • No state sales tax on building materials used for new construction or rehabilitation (in addition to existing sales tax exemption on machinery and equipment).
  • No state income tax on dividends received from corporations, individuals, partnerships, trusts and estates doing substantially all their business in an enterprise zone.
  • No state income tax on interest received by a financial institution from loans given out for enterprise zone investments.

Local Incentives:

  • Municipal and county property tax abatement for three years on building improvements and new construction for commercial and industrial enterprises.
  • Municipal and county sales tax exemption on all building material purchases for qualified commercial and industrial projects.
  • Waiver of building and other fees related to construction and expansion of capital facilities for commercial and industrial projects.
  • The Zone Administrator (with approval of the Advisory Council) can modify zoning and expedite handling of business licensing and streamline local permit procedures.
  • No real estate transfer tax within the zone for commercial and industrial properties.