2024 Strategic Economic Development Program

A grant provided through this opportunity will support business retention investments needed for the continuation of a company’s operating presence in Illinois. Mandatory requirements: • Minimum employee retention level:100 • Eligible entities: 1. Must be a private for-profit business entity 2. Must be the legal owner of and have the authority to implement investments in a manufacturing complex already located and operating in Bushnell, IL. 3. Must have extensive direct applicable experience in operating a successful tool manufacturing firm. 4. Business entity must have less than 1,000 employees in Illinois. 5. Must have acquired a 100 full-time equivalent tool manufacturing firm in in McDonough County. In order to maximize the effectiveness of this retention investment, the applicant must maintain the operational production status of current product lines and not relocate these to other physical sites outside of an existing manufacturing plant located within Bushnell, IL. Expenses related to this grant must be directly tied to the retention of employees or improvements of the facilities located in Bushnell. For example, reimbursements for payroll and facility improvements may be acceptable under this grant.