The Main Street Corridor in Renaissance Park is a pedestrian-oriented, mixed-use commercial neighborhood under development—with plans for ornamental lighting, streetscapes, wide walkways, outdoor seating and a growing group of small businesses, retail stores, boutiques and restaurants. At the heart of the Corridor is the Peoria NEXT Innovation Center, a catalyst for economic growth. Ground has been broken here for a $12 million, three-level building where entrepreneurs pursue their ideas, receive expert mentoring, enhance skills, create business strategies and acquire venture funding. The Renaissance Park business corridor is an opportunity for developers with a vision for New Urbanism. Thousands of customers are within walking distance: • 10,000 residents in the nearby neighborhoods • Nearly 5,500 students and 400 faculty members at Bradley University • 6,300 employees at Methodist Medical Center and OSF Saint Francis Medical Center • The world headquarters of Caterpillar Inc., less than a mile away, which employs more than 15,000 in our region Development incentives include: • West Main Street Facade Improvement Program • City financing programs including grant opportunities and low interest loans • City Enterprise Zone    - Low Financing Programs at 2% below prime interest rate    - Property Tax Abatement    - Sales Tax Abatement on building materials (100% of the 8% sales tax is waived)    - Job Tax Credits ($500 per employee)    - Investment Tax Credit (.5%)    - Utility Tax Credits The time to invest is NOW. You have an opportunity to join the redevelopment currently in progress. In Renaissance Park, there are: • Desirable building sites primed for development • Well-maintained buildings available for immediate occupancy • Existing buildings ready for conversion to other uses. For more information contact the City of Peoria Department of Economic Development at econdev@ci.peoria.il.us.