CHICAGO — Governor Pritzker joined state and local leaders to announce $40 million in Rebuild Illinois Capital Funds to encourage the development of megasites, real estate ready for manufacturers, distribution centers, industrial centers, and more. The competitive grant opportunity is open to governments, private businesses, or non-profits to support site development in order to attract large-scale industrial investments in underutilized areas and former industrial sites. Grants will range from $250,000 to $5 million and will require matching funds. Eligible sites must contain at least 200 acres and applicants must own or have an agreement in place to acquire the property at the time of the application. Funding can be used on infrastructure expenses such as roads, electricity, water, broadband and other utilities.
“Major job creators are consistently looking for investment-ready sites they can get up-and-running in a short amount of time – and Illinois is home to some of the largest such sites in the country, all ripe for fresh development,” said Governor JB Pritzker.
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