•June 10, 2020•
Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) today announced that 32 minority-owned businesses and business incubators will receive a total of $11 million as part of the state’s Minority-Owned Business Capital and Infrastructure Program. These grants will equip minority-owned firms with resources to create jobs, build capacity, increase revenues, and revitalize properties in underserved communities.
Funding will reach businesses of all sizes and types, as well as community-based incubators working to help small and start-up businesses in diverse communities across the state. The development of new grant-funded projects is estimated to create hundreds of full-time and construction jobs for the surrounding community.
“At a time when businesses are facing significant setbacks due to the ongoing COVID-19 pandemic, the Minority Capital Fund will help eliminate obstacles so minority-owned businesses can rebuild and continue supporting their communities,” said Governor Pritzker. “These small, family-owned businesses are the backbone of Illinois, and capital grants will unlock funding to help them expand, create new jobs, and drive positive economic change for their communities.”     Login or Subscribe to read the rest of this story.