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The Gateway Business Park in Beloit was developed in 2001 to promote growth in the area. A new Tax Increment District is being proposed for the Gateway Business Park.

 BDN file photo

BELOIT — The City of Beloit is proposing the creation of a Tax Increment District to prepare for future development in the Gateway area.

The district is planned to be suitable for mixed use development, including potential for residential, commercial and marketing developments. The city is hopeful that the Tax Increment District (TID) will provide incentive for job creation and retention in the area, especially since Beloit has experienced success with Gateway in the past.