There is financial assistance available through a variety of sources for local business in Sun Prairie. The City of Sun Prairie maintains several of these programs.
For more information or specifics on any of the following programs contact the Economic Development Department at (608) 825-1107 or firstname.lastname@example.org.
Tax Increment Financing (TIF)
The City of Sun Prairie currently maintains five active TIF Districts. Within each of these geographic areas, the City will consider requests for assistance from development projects that generate new revenue from newly created property tax base above and beyond what is already in place. Competitive requests will have significant economic impact in the form of increased tax base, increased employment opportunities, significant private investment, and a positive impact on the future development of the surrounding area. More Information
Revolving Loan Fund
The City of Sun Prairie through its participation in the Wisconsin Development Fund Program has retained funds for the establishment of an Economic Development Revolving Loan Fund (RLF). This fund is designated to make direct business loans on a companion basis with other financing sources (public sector loans, governmental loans/grants, equity, etc.). For more information on the RLF email email@example.com.
Industrial Revenue Bonds
The State of Wisconsin's Industrial Revenue Bond (IRB) Program allows the City of Sun Prairie to support industrial development through the sale of tax-exempt bonds. The proceeds from the bond sale are loaned to businesses to finance capital investment projects at, primarily, manufacturing facilities. Even though IRBs are municipal bonds, they are not general obligations of the municipality. The company or business that will use the facilities provides the
interest and principal payments on the loan. The City is in partnership
with the business, lending its name, but not its credit, to the bond
For more information on what qualifies visit the Wisconsin Economic Development Corporation online.
For projects that meet specific development goals of the City, and show significant economic impact, the City of Sun Prairie may consider negotiating other types of incentives. For an overview of current tax increment districts and potential assistance available contact the Economic Development Department at (608) 825-1107 or firstname.lastname@example.org.
Assistance Available Through the State of Wisconsin
Wisconsin Economic Development Corporation (WEDC)
For a summary of programs available through the State of Wisconsin visit the Wisconsin Economic Development Corporation online.
Workforce Development Board of South Central Wisconsin
The Workforce Development Board of South Central Wisconsin maintains several programs to help offset the costs of training and other efforts designed to get workers into successful employment.
Visit the Workforce Development Board of South Central Wisconsin online or contact them at 608-249-0001 for more information.