SPRINGFIELD, Ill. (WTVO) — Illinois is offering a $40 million grant to help develop industrial sites across the state, in an effort to boost businesses.
The money will range from $250,000 to $5 million to develop “megasites,” large, undeveloped pieces of land ready for manufacturers, distribution centers, and other industrial uses.
The amount each applicant will receive will depend on the site acreage. To be eligible, the site must have 200 contiguous acres.
Gov. JB Pritzker said one of the goals of the funding program is to attract job creators and to revitalize areas that are underutilized.
“We’re making it less expensive to do business in Illinois than it is in other states,” Pritzker said Monday. “I venture to argue to you that they are not cleaning up their sites at the pace we are cleaning up ours, and I’m pointing to Indiana. It’s frankly for two reasons: one is we’re being more aggressive at attracting businesses to Illinois and, secondly, we are more interested in being environmentally friendly here in Illinois and frankly businesses are too.”
Funding can be used on a variety of site development expenses, including infrastructure expenses such as roads, electricity, water, broadband and other utilities; site development expenses like grading and drainage, rehabbing existing structures, remediation and cleanup; and land acquisition and related expenses. A link to the application – including information on an informational webinar on February 21 – can be found here. Applications will be accepted through April 6, 2023.
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February 6, 2023 at 05:56PM