Harmon praises Illinois’ $80 million investment in economic development

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Tuesday, March 10, 2020 11:55 AM

harmon 031020Senate President Don Harmon praised the Department of Commerce and Economic Opportunity’s announcement that local governments, economic development organizations, non-profit organizations, and private companies will be able to compete for $80 million to improve local economies.

“This is an investment in local communities throughout our great state,” said Illinois Senate President Don Harmon. “These projects will build a better Illinois. The bipartisan success we’ve seen with Gov. Pritzker shows what we can do when Illinois works together.”

The funding for these competitive grants comes from the Rebuild Illinois statewide construction program the General Assembly approved last year. In order to qualify, organizations will have to submit grant proposals explaining how their projects would help create jobs, expand economic opportunity and improve the roads and bridges that communities rely on.

$50 million will be available for infrastructure projects – repairing roads, bridges, sewers, waterways, ports, utility lines, and more. Local governments will be able to qualify for grants of up to $5 million to fund their vital projects.

$16.5 million will be available for regional economic development that aligns with the State’s current five-year economic plan. Each grant, which is available to any group that has a stake in economic development, will be for up to $2 million.

$13 million will be available for shovel-ready economic development projects in grants of up to $2 million. To qualify, a project must be ready to go except for funding.

Additional information about how and when to apply is available on DCEO’s website. Infrastructure grant applications are due June 30, while applications for economic development and shovel-ready grants will be accepted on a rolling basis.

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via ISDC

March 10, 2020 at 04:35PM

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