About the Economic Development Commission
The mission of the Economic Development Commission shall be to study the current status of economic development with the City, to propose strategies to the City Council for retaining existing business, attracting new industry and retail business, and to suggest policies which would help promote general economic development.
Notice for the next Economic Development Meeting can be found HERE.
Notice for the next Economic Development Meeting can be found HERE.
Economic Development Incentive Programs
The City of Red Bud offers the following economic incentives to industrial, commercial, and retail businesses. Please be advised that eligibility requirements vary for each program.
The City of Red Bud offers the following economic incentives to industrial, commercial, and retail businesses. Please be advised that eligibility requirements vary for each program.
1.Property Tax Abatement Program
This program allows businesses who own real estate and expand their facilities to abate the city portion of the property taxes. The amount and length of the abatement are determined by the amount of dollars spent on the project and the number of jobs created and retained in relation to the project.
This program allows businesses who own real estate and expand their facilities to abate the city portion of the property taxes. The amount and length of the abatement are determined by the amount of dollars spent on the project and the number of jobs created and retained in relation to the project.
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2.Sales Tax Rebate Incentive Program
Upon completion of an expansion project, this program allows businesses to earn a rebate on new sales tax levels. Base sales tax (the amount of sales tax prior to expansion project) is used to determine what sales tax is eligible for rebate. Rebate rate is a ¼ of 1%. The length of the rebate is determined by eligible project costs.
Upon completion of an expansion project, this program allows businesses to earn a rebate on new sales tax levels. Base sales tax (the amount of sales tax prior to expansion project) is used to determine what sales tax is eligible for rebate. Rebate rate is a ¼ of 1%. The length of the rebate is determined by eligible project costs.
| ordinance_1015.pdf |
3.Revolving Loan Fund
This program provides up to $20,000 in low interest loan funds for each full-time equivalent job created or retained within the business. The interest rate for the program is established by the Economic Development Commission and the Red Bud City Council and is subject to change.
Note: The documents below are under review.
This program provides up to $20,000 in low interest loan funds for each full-time equivalent job created or retained within the business. The interest rate for the program is established by the Economic Development Commission and the Red Bud City Council and is subject to change.
Note: The documents below are under review.
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4.Micro-Loan Program
This program provides loans to small businesses loans with no employee creation or retention requirements. The intent of these low interest loans are intended for small projects such as roof replacement, HVAC replacement, small expansion projects, and operating expenses. The interest rate for the program is established by the Economic Development Commission and the Red Bud City Council and is subject to change.
This program provides loans to small businesses loans with no employee creation or retention requirements. The intent of these low interest loans are intended for small projects such as roof replacement, HVAC replacement, small expansion projects, and operating expenses. The interest rate for the program is established by the Economic Development Commission and the Red Bud City Council and is subject to change.
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5.Enterprise Zone
The City of Red Bud along with several local governments throughout Monroe and Randolph Counties established an Enterprise Zone in 2019. Parcels of property within the established zone can apply for a certificate to be used for purchasing building materials less sales tax.
The City of Red Bud along with several local governments throughout Monroe and Randolph Counties established an Enterprise Zone in 2019. Parcels of property within the established zone can apply for a certificate to be used for purchasing building materials less sales tax.
| enterprise_zone_process_guide_02282020.pdf |
Eligibility requirements, terms, and conditions vary for each program listed. For more information, please contact City Hall at 618.282.2315. Email inquiries can be sent to Pam Poetker at pam@cityofredbud.org
Economic Development Commission
Commission Member |
Position |
Term Expiration |
Mike Rheinecker |
Chairman |
Length of Term as Council Member |
Tom Heizer-Industry |
Member |
2023 |
Stuart Langrehr-Finance/Lending |
Member |
2025 |
Clem Esker-Waterways |
Member |
2025 |
Cole Stenzel-Finance/Lending |
Member |
2024 |
Gale "Butch" Stellhorn-Transportation |
Member |
2024 |
Mike Reed-Retail |
Member |
2024 |
Warren Frank-Comm/Tourism |
Member |
2023 |
Greg Birchler-Agriculture |
Member |
2023 |
Orvel Cox-Commercial |
Member |
2026 |
Jonathan Tallman-Education |
Member |
2026 |
J. Larry Ingalls-Education |
Member |
2026 |
Jennifer Gregson-Healthcare |
Member |
2025 |