Gov. Pritzker, Chicago Mayor Johnson announce new grant program supporting small businesses

CHICAGO (WLS) -- State and local officials gathered Thursday morning on Chicago's West Side to announce a grant program to support businesses owned by historically underrepresented populations and small businesses.

Gov. JB Pritzker, Chicago Mayor Brandon Johnson, former Chicago Mayor Rahm Emanuel and more were among those who spoke at the event.

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The Illinois Department of Commerce and Economic Opportunity was also there to announce $10 million in funding for the Office of Economic Equity and Empowerment Small Business Capital and Infrastructure Grant Program to help small businesses achieve sustainable growth, improve efficiency and create and retain jobs through capital improvements, a news release from the governor's office said.

The grant program is designed around equity to uplift businesses owned by historically underrepresented groups and very small businesses with fewer than 10 employees, the release said.

"Creating economic opportunity for diverse and small businesses demonstrates our commitment to investing in all of our people and growing the economy," Pritzker said. "In communities across Illinois, small businesses are sustaining quality jobs, anchoring downtowns and commercial districts, providing vital goods and services, playing an integral role in supply chains, and anchoring the overall strength and diversity of our economy."

The grants can be used for eligible projects including planning; land and building acquisition; buildings; additions; site improvements; rolling stock; and durable equipment, officials said.

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"Supporting a small business doesn't just support a local economy, it contributes to the health and success of our shared communities," Lt. Gov. Juliana Stratton said. "DCEO's OE3 Small Business Capital and Infrastructure Grant Program will further support their development and build a stronger, more inclusive economy."

The program was announced at The Will Group, which received DCEO grant funds from an earlier iteration of the program to expand their manufacturing presence on Chicago's West Side.

Qualified organizations include businesses owned by Socially Economically Disadvantaged Individuals, with a maximum of 25 full-time permanent employees and Very Small Businesses, with less than 10 employees, officials said.

SEDI includes businesses owned by historically underrepresented groups, including people of color, women, people with disabilities, veterans, members of the LGBTQ community and more.

Priority will be given to businesses located in Community Development Financial Institution Investment Areas, especially those with project proposals that focus on job creation, economic revitalization or increased community engagement in these areas, officials said.

Grantees will be selected through a competitive Notice of Funding Opportunity process. Qualified organizations can apply for grants from $10,000 to $245,000.

Applications will be accepted until 5 p.m. April 7.

To view and apply for the grant, visit the DCEO website.

Interested parties are encouraged to reach out to CEO.GrantHelp@illinois.gov for application help.

To help applicants prepare to apply for funding, DCEO will be holding a technical assistance webinar at 11 a.m. Feb. 4.

Answers to frequently asked questions in English and Spanish are available on the DCEO website.