Other Incentives

Participation Loan Program
The program works through banks and other conventional lenders to generally provide subordinated financial assistance to small businesses that will employ Illinois workers. The state will participate in loans up to 25 percent of the total amount of a project, but not less than $10,000 nor more than $750,000.

Minority, Women and Disabled Participation Loan Program
This program is similar to the Participation Loan Program, except that participation may not exceed 50 percent of the project, subject to a maximum of $50,000.

Enterprise Zone Financing Program
Similar to the Participation Loan Program, except that DCEO will generally provide favorable interest rates to businesses either locating in or expanding in one of the 93 certified enterprise zones located throughout the state.

Development Corporation Participation Loan Program
This program provides financial assistance through a Development Corporation to small businesses that provide jobs to workers in the region served by the Development Corporation. The state will participate in loans up to 25 percent of the total amount of a project, but not less than $10,000 nor more than $750,000.

Capital Access Program (CAP)
The Capital Access Program is designed to encourage financial institutions to make loans to new and small businesses that do not qualify for conventional financing. A reserve fund is established at the lending bank and is available to draw upon should any of the bank's CAP loans default. There is a maximum loan amount of $100,000.

The Technology Venture Investment Program (TVIP)
The Technology Venture Investment Program was created to provide seed and early stage capital, in the form of a qualified security investment, to Illinois entrepreneurs that are developing an advanced technological device or process commercially exploitable by Illinois businesses. DCEO may invest up to $500,000, but no more than 50 percent of the equity financing of the project. A qualified co-investor(s) with expertise in the related field of technology must assume at least 50 percent of the additional equity contribution.

Surety Bond Guaranty Program
The program is designed to assist Illinois' small, minority and women contractors with technical assistance; help them receive experience in the industry; and assist in obtaining bid, performance and payment funds for government, public utility and private contracts.

Business Development Public Infrastructure Program
The Business Development Public Infrastructure Program provides low-interest financing to units of local government for public improvements on behalf of businesses undertaking expansion or relocation projects that meet the program criteria and demonstrate great potential for creating and retaining jobs. The infrastructure improvements must be made on public property and must directly result in the creation or retention of private-sector jobs. The local government must demonstrate clear need for the financial assistance to undertake the improvements.

Affordable Financing of Public Infrastructure Program
This program provides financial assistance to, or on behalf of local governments, public entities, medical facilities and public health clinics for the purpose of making affordable the financing of public infrastructure improvements needed to insure health, safety and economic development in a community.

Community Development Assistance Program (CDAP)
CDAP is a federally funded program that assists smaller Illinois local governments in financing public facilities, housing rehabilitation projects or economic development needs. Grants are made to units of local government and may be loaned to businesses for projects that will create or retain jobs in the community. Grant funds may also be used by the local government for improvements to public infrastructure that directly support economic development. The program is limited to communities with populations under 50,000 that are not located within one of the eight large urban counties that receive funds directly from the federal government. Funds are targeted toward projects that primarily benefit low- and moderate-income people.

Community Services Block Grant Loan Program (CSBG)
This program provides long-term, fixed-rate financing to new or expanding businesses that create jobs and employment opportunities for low-income individuals. The program links federal, state and private financing by using CSBG funds at low interest rates in combination with bank funds and equity.

Large Business Development Program
The Illinois Large Business Development Program (LBDP) provides incentive financing to encourage large out-of-state companies to locate in Illinois or existing large companies to undertake substantial job expansion or retention projects. Funds available through the program can be used by large businesses (500 or more employees) for typical business activities, including financing the purchase of land and buildings, construction or renovation of fixed assets, site preparation and purchase of machinery and equipment. LBDP funds are targeted to extraordinary economic development opportunities; that is, projects that will result in substantial private investment and the creation and/or retention of 300 or more jobs.

Employer Training Investment Program (ETIP)
This state-funded program assists Illinois companies in training new workers or upgrading the skills of their existing workers. ETIP grants may be awarded to individual companies, multi-company efforts and intermediary organizations offering multi-company training.

Illinois Technology Enterprise Center (ITEC) Program
The ITEC program provides operational support for regional centers that serve technology entrepreneurs, innovators and small businesses and provide investments to or on behalf of young or growing companies in cooperation with private sector investments. Centers assist entrepreneurs to locate critical pre-seed and early stage financing, help entrepreneurs in high growth, high technology fields to further their technical and/or managerial skills, and assist with new product development and marketing in support of new venture formation within Illinois.

Illinois Technology Enterprise Development and Investment Program
Provides investment, loans or qualified security investments to or on behalf of young or growing businesses in cooperation with private investment companies, private investors or conventional lending institutions. Investors assume a portion of the investment loan or financing for a business project. New or emerging businesses also are eligible through financial intermediaries as they commercialize advanced technology projects.

Recycling Industry Modernization (RIM) Program
The Recycling Industry Modernization Program provides grants to manufacturers to encourage them to modernize their operations and divert materials from the solid waste stream. RIM projects require the use of recycled materials and/or solid waste reduction activities. Grants of $30,000 are available for modernization assessments, with grants up to $150,000 available for modernization implementation projects. Grants require an applicant investment.

Recycling Market Development Program
Provides grants to encourage private-sector investment in the manufacture, marketing and procurement/demonstration of products containing recycled commodities. These funds may be used for capital equipment, certain marketing expenses, and to offset costs to procure and demonstrate the use of recycled-content products. The Recycling Market Development Program provides grants up to $250,000. Grants require an applicant investment