Prime Sites Program
The Prime Sites Program is a highly competitive capital grant opportunity available from the Illinois Department of Commerce and Economic Opportunity (DCEO) for companies proposing large scale development projects that will create at least 50 well-paying jobs for Illinois residents. Funded by Rebuild Illinois, DCEO will leverage the Prime Sites fund to provide matching capital for large investments by businesses relocating to or expanding in Illinois. Grants will range from $250,000 to $6 million and will be tied to the number of new jobs created. Recipients will be required to provide a minimum 4-to-1 match – enabling the grant to cover up to 20% of total capital costs for each project.
To apply for a Prime Sites grant, companies must commit to creating at least 50 well-paying jobs and investing $40 million in Illinois or creating at least 100 well-paying jobs and investing $20 million in Illinois. Companies must receive contingent approval through the State of Illinois that they qualify for the EDGE or High Impact Business program, incentives provided to companies that commit to expansion or job creation in Illinois. A full list of eligibility requirements can be found on DCEO’s website.
DCEO will begin accepting applications for Prime Sites on September 20, 2021, and awards will be made on a rolling basis.