Jefferson Parkway

Monticello Development Incentives

Jefferson Parkway encompasses 108 acres of land located off of Interstate 72 and exit 164 (Market Street). In Illinois, I-72 runs for 182 miles. Jefferson Parkway is conveniently located between Champaign and Decatur and is situated in one of Central Illinois’ finest communities, Monticello.

The City of Monticello, Illinois is a classic community with the charm of yesterday, while still keeping in step with the latest advancements. With Champaign to the northeast and Decatur to the southwest, Monticello is a unique destination spot for tourists and family vacation travelers. Monticello and the surrounding communities of Piatt County are rich in interesting history and cultural heritage. Monticello’s “square” is a popular shopping and dining destination. The community is also great for golfers, hikers and those who enjoy the outdoors. Our city has its share of entertainment and popular festivals, all of it in a beautiful and attractive atmosphere complete with mature tree-lined streets and breathtaking architecture and historic mansions.

The Jefferson Parkway name is a tribute to Thomas Jefferson, the third president of the United States and principal author of the Declaration of Independence. In 1837, the town of Monticello, Illinois was officially named after Thomas Jefferson’s mansion estate in Charlottesville, Virginia.

A Tax-Increment Financing District

The concept behind this unique development is to encourage and incentivize businesses to consider developing projects on the land that complements Kirby Medical Center, a new 71,000- square-foot medical center and healthcare campus.

Jefferson Parkway is located in one of the city’s two tax-increment financing (TIF) districts. Illinois law allows units of local governments the ability to designate areas within their jurisdiction as TIF districts. These specially designated districts are used by local governments as a way to incentivize economic growth by reimbursing the additional property tax revenues generated within the TIF for infrastructure improvements made by developers. Kirby Medical Center owns the 108 acres making up Jefferson Parkway and has a TIF redevelopment agreement in place with the City of Monticello that allows for these incentives to be passed along to developers.

A growing community of close to 5,600, Monticello has two interstate ramps that give direct access to travelers and commuters from I-72 into the community. Monticello has very low property tax rates, which make the community ideal for any business or resident to call home.

If you are interested in learning more about site availability and development in Jefferson Parkway, call 217-762-1501.