SIEDA is a regional development bond agency for the counties of Clark, Clay, Crawford, Cumberland, Edwards, Effingham, Fayette, Hamilton, Jasper, Jefferson, Lawrence, Marion, Richland, Wabash, Washington County-Irvington Township, Wayne, and White.
The Southeastern Illinois Economic Development Authority (SIEDA) was created in 2004 and amended in 2012 by action of the Illinois General Assembly and the Governor.
The Authority’s statutory powers enable it to issue DOUBLE Tax-Exempt Bonds for small manufacturers, affordable multi-family housing, senior housing, assisted living facilities, private universities, YMCAs, other non-profit organizations and on behalf of other local units of government for public facilities anywhere within the territorial jurisdiction of the Authority.
SIEDA is governed by a 27-member Board of Directors with each county having one representative appointed by the County Board Chair, 9-members appointed by the Governor and one appointed by the Director of the Department of Commerce and Economic Opportunity.
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 an 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.
The interest on the bonds is not subject to state or federal income taxes, investors and lenders require a lower interest rate to achieve an equivalent after-tax return.
Companies making an investment and creating jobs are eligible for sales tax exemptions on building materials and an investment tax credit.
The Gaetti Sports Academy belongs to former MLB player and Centralia native Gary Gaetti. The Academy compromises a larger complex containing a restaurant and event center respectively known as The Landing at Castle Ridge and The Grand Hall & Conference Center at Castle Ridge.
Big River Solar, LLC (“Big River”) is a 149-megawatt utility-scale solar electric generation facility located in rural White County, Illinois. The Project represents a capital investment of over $175,000,000 and will create approximately 400 construction jobs and 5 permanent jobs.
The Castle Ridge project is located on approximately 59 acres with significant frontage on Raccoon Lake with an address of 1750 Tee Lane, Centralia, Illinois, 62801. The estimated total cost of the project is $14,564,000 and will initially create 53 new full-time and 103 part-time jobs.
The Southeastern Illinois Economic Development Authority (SIEDA) is an Illinois regional development agency offering Bond Financing and Enterprise Zone Opportunities.