The intent of the Business Attraction Prime Sites capital grant program is to assist companies with large-scale capital investment projects that commit to significant job creation and/or retention in the state of Illinois.
The intent of the Business Attraction Prime Sites capital grant program is to assist companies with large-scale capital investment projects that commit to significant job creation and/or retention in the state of Illinois.
Type of assistance: Grant Award: $250,000 to $25,000,000 Total funding: $120000000.00 Cost sharing or matching: Yes Applications: 2021-09-20 to 2027-06-30 Apply: https://dceo.illinois.gov/aboutdceo/grantopportunities/2608-2023.html Source: Illinois's list of open state funding notices (GATA, omb.illinois.gov).
Eligible applicant types: Nonprofit Organizations; For-Profit Organizations
Businesses that are relocating to or expanding operations in Illinois. Received confirmation of eligibility for an EDGE, HIB, REV or MICRO credit or has a pending application for the EDGE, HIB, REV or MICRO programs that is ultimately approved. Jobs must be located at the project site where the capital project is located and must be full-time working directly for the company. Companies eligible must operate in one the of the following industries from the 2024 Illinois Economic Plan: • Quantum Computing, AI & Microelectronics • Life Sciences • Clean Energy Production & Manufacturing • Advanced Manufacturing • Next Generation Agriculture, Ag Tech & Food Processing • Transportation, Distribution & Logistics The Prime Sites grant originates from Rebuild Illinois capital funds, grant funds must be expensed to infrastructure and capital equipment expenditures and are subject to Bondability Guidelines. Jobs committed and the total amount of the project’s capital expenditures required are listed below with the grant award formula amounts: • EDGE Tier 1 or HIB grant amounts equal to $5,000 per new job created and the company must commit to: o 40 new jobs and $40M investment; or, o 100 new jobs and $20M in investment. • EDGE Tier 2 grant amounts equal to $10,000 per new job committed and $5,000 per jobs retained and the company must commit to: o 100 new jobs and $50M investment. • REV or MICRO grant amounts: o REV or MICRO Tier 1, $5,000 per new job created. o REV or MICRO Tier 2, $10,000 per new job created, and/or $5,000 per retained jobs. For REV and MICRO program participants, 10 new jobs must be committed, there is no minimum requirement for retained jobs, nor capital investment commitment. Standard GATA pre-qualification is required.
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