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City Celebrates TIF Success

City Celebrates TIF Success

One of the city’s eight Tax Increment Finanancing (TIF) districts has run its course resulting in an environmentally blighted industrial area being reclaimed and attracting some new businesses. Springfield Economic Development Director Mike Farmer says more than 6-million dollars is being distributed to ten taxing bodies in addition to more companies being put on the city’s tax rolls. The former Fiat-Allis plant on south 6th Street once was home to thousands of jobs but sat vacant for years after it closed in the early 1980s. This TIF district was established in 1989.

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