SPRINGFIELD – Senate Democrats are applauding the creation of a new $3.5 million grant program to invigorate local economies. The Illinois Department of Commerce and Economic Opportunity announced the launch of the Research in Illinois to Spur Economic Development initiative today.

State Senator Dave Koehler (D-Peoria) and State Senator Elgie Sims (D-Chicago) in particular are enthusiastic about the prospects of a post-pandemic recovery boom.

"Central Illinois is blessed with so many great economic assets," said Sen. Dave Koehler (D-Peoria). "By working together to plan for the future, we can identify even more opportunities for growth."

DCEO is accepting applications from local government and Economic Development Organizations (EDO’s). The program requires plans that will address job losses and business closures, adaptation to shifting economic trends in the area, and critical economic and public health infrastructure. 

The state will offer grants to help local governments and EDO’s create new regional or local plans to promote economic recovery from the COVID-19 pandemic. DCEO also requires that the plans qualify to receive American Rescue Plan Act money.

“With this initiative we hope to encourage local communities to create economic plans of their own," said Sen. Elgie Sims (D-Chicago). “Since 2019, we’ve begun the work of creating new pathways for economic success. It’s time for communities across the state to take advantage of all that’s out there in creating and expanding Illinois developments.”

The deadline to apply for the RISE Program is May 9, 2022. Grant awards will be up to $150,000. DCEO will be hosting an overview and a technical support session on the new program on March 17 for interested parties.

For updates on the program or other upcoming economic recovery grant opportunities, please check DCEO's website.

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