Strategic Economic Development Program

The Illinois Department of Commerce & Economic Opportunity (DCEO) is offering a single $5 million grant under the Strategic Economic Development Program to support the relocation of a leading global high‑precision machine‑tool manufacturer to Chicago and the establishment of its North American R&D headquarters. The grant covers capital building improvements, site infrastructure, land acquisition, and purchase/installation of durable equipment, but excludes indirect, operational, or lease costs. Applicants must already have an executed Tier 1 EDGE tax‑credit agreement, be a for‑profit entity relocating to Chicago, commit to a minimum $40 million capital investment, and create 55 new full‑time jobs while retaining 16 existing jobs. The performance period runs from 15 Oct 2026 to 30 Jun 2028, with reimbursement of documented capital expenditures. One award is expected; cost‑sharing is not required. • Eligible: For‑profit manufacturers with an existing Tier 1 EDGE agreement. • Funding: Up to $5 M (single award) from Build Illinois Bond Funds. • Scope: New construction, site preparation, utility work, acquisition of durable equipment, architectural/engineering design. • Exclusions: Operational expenses, lease payments, staff salaries, temporary facilities, vehicles, livestock. • Requirements: SAM/UEI registration, GATA portal enrollment, compliance with state/federal labor, prevailing‑wage, and apprenticeship rules. • Deliverables: Detailed project narrative, budget, certifications, IRS letter, W‑9, and quarterly performance/financial reports.