MARION – Business Facilities, a leading publication for site selection professionals, has recently recognized the City of Marion as one of the top 24 Economic Development Organizations (EDOs) for its innovative programs that make a significant impact.
The City of Marion earned this prestigious recognition in the “Small EDOs” category, which includes organizations serving populations under 100,000.
This award acknowledges the City of Marion for exceptional innovation and resourcefulness as well as results towards capital investment, job creation, and enhancing the quality of life for residents. The accolade highlights the STAR Bond Project #1, which the City Council approved last September. This pioneering project is the first of its kind in the State of Illinois and represents a significant milestone in economic development for the region.
The STAR Bond Project #1 facilitates the issuance of bonds by the City to fund specific development costs associated with the redevelopment of the former Illinois Star Centre Mall site and its surrounding properties. These bonds, uniquely structured to be repayable through future sales tax revenue collected within the defined STAR Bond area, ensure that there is no financial obligation from any other sources.
This innovative funding model exemplifies the City’s commitment to sustainable development and fiscal responsibility.
The City of Marion continues to lead with vision and innovation, fostering an environment where businesses and residents alike can flourish. This award serves as an affirmation of the City’s ongoing efforts to build a prosperous and sustainable future.
