IL Pledges $30M to Revitalize Commercial Corridors, Spur Economic Development
Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) have launched $30 million in funding to accelerate economic growth and community revitalization.
The Rebuild Illinois Downtowns and Main Streets Capital program will receive $20 million, and the Research in Illinois to Spur Economic Recovery program will receive $10 million. Both programs aim to revitalize commercial corridors and downtown areas throughout the state and accelerate local economic recovery initiatives.
The Rebuild Illinois Downtowns and Main Streets Capital program (RDMS) will provide grants for construction, repair and modernization of public infrastructure and amenities to boost jobs, improve quality of life and stimulate economic activity.
“To boost job creation and improve local infrastructure and amenities, my administration is investing an additional $30 million to support downstate commercial corridors and downtown areas,” said Governor JB Pritzker.
Qualified entities can apply for grants, with awards ranging from $250,000 to $2 million, with a minimum 25% match required for local units of government and a 50% match for all other applicants.
