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,
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
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.