Scott CU Headquarters Project Gets $800,000 Tax Abatement Boost

EDWARDSVILLE, Ill. – City officials voted to expand the local enterprise zone to include a proposed headquarters for Scott CU, which would save the $600 million credit union as much as $800,000 in property taxes over 10 years.

But the enterprise zone would divert 100% of the property tax increase for the first seven years and some will be abated for the following three years, a total of more than $800,000, part of the inducement for the credit union’s $10 million project.

The new three-story building could house as many as 120 employees, and the 13-plus-acre site would allow future construction.

Scott, chartered in 1943 at Scott Air Force Base, is currently headquartered in nearby Collinsville.

 

For reprint and licensing requests for this article, click here.
Branch network
MORE FROM AMERICAN BANKER