Illinois Commits $31.5 Million to Revitalize Industrial Sites

Illinois Governor JB Pritzker has announced a strategic investment of $31.5 million to enhance business development and community renewal across the state. This funding is designated for the Regional Site Readiness Program, which aims to revitalize underused industrial spaces, such as inactive factories and contaminated lands, in preparation for future economic growth.

In his announcement, Pritzker emphasized the importance of proactive government involvement in transforming neglected sites into thriving hubs of activity. “For too long, Illinois communities were left with moribund sites and missed opportunities because state government wasn’t acting as a true partner — that era is over,” he stated. The initiative is designed to provide essential groundwork for revitalization, enabling Illinois to leverage its strong workforce effectively.

The $31.5 million investment forms part of a broader $500 million site readiness initiative, marking an unprecedented commitment by the state. Within this initiative, $200 million will support the Site Ready Illinois program, which includes the Regional Site Readiness Program. An additional $300 million will focus on converting surplus state-owned properties into privately developed sites through a program known as Surplus to Success.

Investment Aims to Boost Local Economies

Illinois aims to position itself competitively for large-scale industrial development by laying the groundwork for future projects. Lt. Governor Juliana Stratton highlighted the transformative potential of these grants, stating, “We’re continuing to strategically invest in our people at the local level.” This focus on community investment is expected to yield significant benefits for municipalities, economic development organizations, and landowners.

The program’s structure includes a second phase that addresses financial barriers often faced during the due diligence and infrastructure improvement processes. Planning grants could reach up to $150,000, while capital-ready projects may receive up to $5 million in funding. Applications for the program will be accepted until March 31, 2026, at 17:00 or until the allocated funds are exhausted.

Additionally, the Illinois Department of Commerce and Economic Opportunity (DCEO) will host a technical assistance session on November 3, 2023, to guide applicants through the process, including support for GATA pre-qualification.

Building a Competitive Future for Illinois

State Senator Doris Turner underscored the significance of preparing sites throughout Illinois for business in order to maintain competitiveness in the current economy. This sentiment was echoed by Abby Powell, Director of Business Development for the Springfield Sangamon Growth Alliance, who expressed optimism for the program’s outcomes. “We anticipate that this initiative will build a foundation for more projects, jobs, and economic expansion across Illinois,” Powell noted.

As Illinois takes these bold steps toward revitalization, the investment in the Regional Site Readiness Program signals a commitment to fostering economic growth and enhancing the quality of life for its communities.