Illinois Manufacturing Retention Grant Program

The Illinois Department of Commerce and Economic Opportunity is accepting applications for its Manufacturing Retention Grant Program to retain a company’s operating presence in Illinois by encouraging investments in its employees, facilities, equipment, technologies, and infrastructure. Donor Name: Illinois Department of Commerce and Economic Opportunity State: Illinois County: McDonough County (IL) Type of Grant: Grant Deadline: (mm/dd/yyyy) 09/25/2024 Size of the Grant: More than $1 million Grant Duration: 2 Years Details: This is a new program with limited awards, supported though the Enterprise Fund administered by DCEO. Enterprise Fund grants may encompass a wide range of economic development projects including infrastructure, capital equipment purchases and any employee related expenditures that will result in job retention in Illinois.  The primary goal of this grant is to retain the company’s manufacturing campus in Bushnell at operating production levels that support the minimum employment level of 100 employees at this site.  Funding Information Total amount of funding expected to be awarded through this NOFO is $5,000,000. Grant Period The period of performance is expected to be from September 1, 2024 through August 31, 2026.  Eligible Expenses Eligible expenses for these funds include: Employee payroll for existing employees, including unpaid backpay incurred from 5/14/2024 through the time of grant period. Invoices for services incurred from 5/14/2024 through the time of grant period. Training expenses for existing employees.  Machinery, Equipment, Tooling Refurbishment /Replacement (e.g., forging hammers & dies, Swiss lathes, forklift maintenance, EDM mills & dies). Facility Repairs (e.g., roof repair, air compressor installation, safety & electrical upgrades, site demolition & clean-up). Productivity/Innovation (e.g., robotics reprogramming & expansion, induction heat furnaces, material storage redesign). Replenishment of Inventory (e.g., maintain stocking levels at standard amounts to support daily production). Eligibility Criteria Must be a private for-profit business entity.  Must be the legal owner of and have the authority to implement investments in a major manufacturing complex located in Bushnell, IL. Must have extensive direct applicable experience in operating a successful tool manufacturing firm. Business entity must have less than 1,000 employees.  Must have acquired a tool manufacturing firm in McDonough County that has a minimum 100 full-time equivalent employees.  For more information, visit DCEO.