Business Resiliency Grant

The Business Resiliency Grant program, offered by the Village of Libertyville in Illinois, is designed to foster the growth, expansion, and long-term sustainability of existing businesses within its municipal limits. This initiative specifically targets customer-facing, sales tax-producing entities with matching grants of up to $5000. The program aims to strengthen the local economy by supporting businesses that contribute to the village's vitality and revenue through sales tax collection and walk-in customer traffic. The underlying mission is to ensure a robust and resilient business community, aligning with local government objectives for economic stability and community prosperity. The primary beneficiaries of this grant are established businesses operating in Libertyville for at least one year, possessing an approved application for occupancy, and generating sales tax for the village. Crucially, these businesses must have a significant portion of their operations derived from walk-in customer traffic and cannot be home-based or not-for-profit entities. An additional requirement includes having a minimum two-year lease remaining from the application date. The program's impact goals revolve around increasing productivity, improving operational efficiencies, expanding program and product offerings, and enhancing overall business resilience, thereby contributing to local employment and economic health. The grant prioritizes a wide array of uses aimed at business development and modernization. Eligible expenditures include online sales platform development, marketing program development, equipment acquisition, projecting signage, and green/sustainable enhancements. Funds can also be used for acquiring staff/professional services, technology, or making physical improvements that allow for expanded program offerings and new digital advertising campaigns. The program also supports the development of marketing and succession plans, purchasing new permanent outdoor offerings, and fire or sprinkler alarm additions/upgrades. Projects focused solely on general operational, maintenance, or replacement costs are not considered eligible, emphasizing the program's focus on strategic investments for growth. Expected outcomes include a more competitive and adaptable business landscape in Libertyville, characterized by increased business longevity, enhanced customer experience, and diversified revenue streams. Measurable results would include an uptick in online sales capabilities, improved marketing outreach, modernized equipment, and a higher adoption of sustainable practices among local businesses. The program's strategic approach, possibly informed by a theory of change that links targeted financial support to business innovation and economic resilience, aims to create a ripple effect where stronger individual businesses collectively contribute to a thriving local economy. Some businesses may also be required to engage with the IL Small Business Development Center (SBDC) at the College of Lake County (CLC) for business or marketing plan refinement, further ensuring strategic and effective use of grant funds.