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Committee recommends county board consider Diamond Enterprise Zone expansion tied to $355 million Constellation project
Summary
Village of Diamond and Constellation representatives described a proposed expansion of the Diamond Enterprise Zone to include Braidwood nuclear plant upgrades; Constellation is proposing roughly $355 million in investment through 2029 and the committee voted to send the expansion to the full board for consideration and required intergovernmental agreements.
Mayor Kearns of the Village of Diamond and a Constellation representative described plans to expand the Diamond Enterprise Zone so Constellation can apply enterprise‑zone incentives for upgrades at the Braidwood Nuclear Plant. Kearns said Diamond previously used the zone to support other regional projects and that the village seeks to use the tool for regionally impactful projects that create jobs.
"Constellation is proposing to invest over $355,000,000 at the Braidwood nuclear plant," Kearns told the committee, saying the work would extend through 2029 and increase power output. Kearns explained enterprise zone incentives generally exempt sales tax on building materials and permanently mounted components, and said the village’s board has already voted to expand the zone at its level; county and other member approvals are needed to finalize any expansion.
Committee members asked how Grundy County would be affected since the plant sits in Will County; speakers explained Grundy is a member of the Diamond Enterprise Zone and must vote internally on expansions that cross member jurisdictions. A committee member stressed that the tax benefits largely apply in the county where the plant sits but said local businesses and residents could see economic spillovers from construction, lodging and restaurant spending.
A motion to recommend the county board consider the expansion at its March meeting passed (motion moved by Matt, seconded by Nathaniel). The Village of Diamond will provide maps, legal descriptions and intergovernmental agreements for Grundy, Will County and the village of Braceville for inclusion in the county board packet ahead of the meeting.
Next steps: the county will receive the legal description, a map of the proposed expansion, and intergovernmental agreement drafts (requested by March 5) so the county board can consider the expansion at its March meeting.
