{"id":9241,"date":"2023-10-30T15:50:37","date_gmt":"2023-10-30T20:50:37","guid":{"rendered":"https:\/\/ibio.org\/?page_id=9241"},"modified":"2023-10-30T15:51:13","modified_gmt":"2023-10-30T20:51:13","slug":"state-resources","status":"publish","type":"page","link":"https:\/\/ibio.org\/illinois-biosciences-industry\/state-resources\/","title":{"rendered":"State Resources"},"content":{"rendered":"

[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_fullwidth_slider disabled_on=”off|off|off” _builder_version=”4.23″ header_font=”||||||||” background_image=”https:\/\/ibio.org\/wp-content\/uploads\/ChicagoHeader.png” parallax=”on” height=”802px” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_slide button_link=”https:\/\/ibio.org\/wp-content\/uploads\/2019.StateofIndustry.pdf” url_new_window=”on” _builder_version=”4.23″ header_font=”||||||||” header_font_size=”40px” background_enable_color=”on” background_image=”https:\/\/ibio.org\/wp-content\/uploads\/ChicagoHeader.jpg” background_enable_image=”on” hover_enabled=”0″ global_colors_info=”{}” sticky_transition=”on” title_text=”ChicagoHeader” background_color=”#2C4865″ sticky_enabled=”0″ heading=”State of Illinois\u2019 Programs & Resources for Businesses”][\/et_pb_slide][\/et_pb_fullwidth_slider][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ collapsed=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”State of Illinois’ Programs & Resources for Businesses” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Capital Building\/Funding Programs<\/h2>\n

[\/et_pb_text][et_pb_divider _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/s7d1.scene7.com\/is\/image\/isp\/advantage-illinois-logo?qlt=100&wid=1200&ts=1685563992310&$ImageComponent$&fit=constrain” admin_label=”AI Logo” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”42%” custom_padding=”||0px|||” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Advantage Illinois (AI)<\/strong><\/a>
Loan programs which help Illinois\u2019 small businesses get access to capital and term loan financing at lower rates by partnering with approved lenders on loan participations and guarantees.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/s7d1.scene7.com\/is\/image\/isp\/invent-logo-purple?qlt=100&wid=1200&ts=1694127081367&$ImageComponent$&fit=constrain” admin_label=”Invent” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”63%” module_alignment=”center” custom_padding=”0px||0px||false|false” custom_margin=”-11px||-2px||false|false” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Illinois Innovation Venture Fund (INVENT)<\/strong>
Venture capital program providing direct equity investments for early and late-stage companies in Illinois, with a focus on founders and communities that have faced barriers to accessing capital and key sectors aligned with the Illinois economic development plan.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.il-fa.com\/sites\/default\/files\/FinalIFALogo877-Green.png” admin_label=”IFA” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” custom_margin=”-32px|||||” width=”62%” module_alignment=”center” sticky_enabled=”0″ custom_padding=”|||10px||”][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Illinois Climate Bank Finance Loan Program<\/strong><\/a>
Loan program providing access to capital for the start-up and\/or expansion of ventures directly involving environmentally-supportive, \u201cgreen\u201d businesses, including those that address the adverse impacts of climate change.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/s7d1.scene7.com\/is\/image\/isp\/angellogo2?qlt=100&wid=1200&ts=1664914820046&$ImageComponent$&fit=constrain” admin_label=”Angel” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”62%” module_alignment=”center” sticky_enabled=”0″ custom_padding=”0px|||||” custom_margin=”-18px|||||”][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Angel Investment Tax Credit Program<\/strong><\/a>
Tax incentive program encouraging investments in innovative, early-stage companies by providing investors in registered businesses with a state tax credit equal to 25% of their investment.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}” custom_padding=”26px|||||”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”Fed Grant” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}” min_height=”46px” custom_padding=”9px|||||”]<\/p>\n

Illinois Federal Grant Support Program<\/strong><\/a>
Grant program providing funding, up to $2M, that entails up to a 1:1 match of the applicant\u2019s cash contribution towards a federal grant application.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”EDGE” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” sticky_enabled=”0″ module_alignment=”center”][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Economic Development for a Growing Economy (EDGE)<\/strong><\/a>
Tax incentive program providing qualifying businesses which support job creation, capital investment and improve the standard of living for all Illinois residents with corporate tax credits.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”State of Illinois’ Programs & Resources for Businesses” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Research & Development<\/h2>\n

[\/et_pb_text][et_pb_divider _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”SBIR” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

SBIR\/STTR State Matching Program<\/strong><\/a>
Grant program providing a state match of up to $50K to companies that have received a Phase I award through a federal Small Business Innovation\u00a0<\/span>Research (SBIR) or Small Business Technology Transfer (STTR) program.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”Vouchers Program” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Illinois Innovation Vouchers Program *COMING SOON*<\/strong>
Grant program providing funding for Illinois\u2019 companies to engage in research projects in partnership with an Illinois institute of higher education.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Trade ” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Trade & Exporting<\/h2>\n

[\/et_pb_text][et_pb_divider _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”ITCS” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

International Trade Centers (ITCs)<\/strong><\/a>
Centers located throughout the State which provide counseling and training to existing and new-to-export companies interested in pursuing international trade opportunities.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_5,3_5″ _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”2_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/scontent-ord5-2.xx.fbcdn.net\/v\/t39.30808-6\/281381822_367952565369626_2495488213931387411_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=5f2048&_nc_ohc=NzA3PFKIrUEAX-wbEoc&_nc_ht=scontent-ord5-2.xx&oh=00_AfAQZWWZLlvFKja3_28isN5BlI-wQrlmV3LFPeqblftFpQ&oe=65455D2A” admin_label=”ISTEP” _builder_version=”4.23″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” width=”30%” module_alignment=”center” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Illinois State Trade and Export Promotion Program (ISTEP)<\/strong><\/a>
Program providing Illinois\u2019 small businesses with both financial and technical assistance to increase their exports, including trade missions, product compliance, website localization, Ex-Im Bank export credit insurance, and more.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ specialty=”on” _builder_version=”4.16″ global_colors_info=”{}”][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Building\/Funding ProgramsAdvantage Illinois (AI)Loan programs which help Illinois\u2019 small businesses get access to capital and term loan financing at lower rates by partnering with approved lenders on loan participations and guarantees.Illinois Innovation Venture Fund (INVENT)Venture capital program providing direct equity investments for early and late-stage companies in Illinois, with a focus on founders and […]<\/p>\n","protected":false},"author":12,"featured_media":0,"parent":9218,"menu_order":20,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

[vc_row][vc_column][vc_column_text]<\/p>

About Illinois<\/h4>

With more than 85,000 direct jobs, Illinois is one of the top states for the life sciences industry. Illinois is also one of the most balanced states between industry subsectors and hosts the second largest concentration of biopharma companies in the country.<\/p>

\u00a0<\/p><\/div>

\"\"<\/p>

The Life Science industry is a large contributor to the Illinois economy. The overall economic output of the industry was $98 billion. Economic output represents a broadest measure of economic activity. It represents the sales related to life sciences firms as well as the suppliers and service industry firms that benefit from the spending of life sciences employees.\u00a0<\/span><\/p><\/div><\/div><\/div>

[\/vc_column_text][vc_tta_tour][vc_tta_section title=\"Wages\" tab_id=\"1549389870118-d0f817f5-34df\"][vc_column_text]Regarding wages, the life sciences industry is also one of the highest paying industries. Illinois residents employed by life sciences companies earn 91% more than the average Illinois resident.. Illinois state and local taxes paid by the life sciences industry equal approximately 4.7% of all state and local taxes collected in Illinois.<\/span><\/p>

\"\"[\/vc_column_text][\/vc_tta_section][vc_tta_section title=\"Geography\" tab_id=\"1549389870147-488783de-abaf\"][vc_column_text]The geographical distribution of the life sciences industry is also diverse, with companies located in counties throughout Illinois. Of the top five counties in Illinois, Lake County hosts the greatest number of biopharma companies, and Cook County is primarily distinguished by its high concentration of startup companies in the biopharma, device and food and nutrition fields. DuPage County, Rock Island County and Vermilion County round out the top five in Illinois with a significant presence of agricultural and industrial firms.<\/p>

\"\"[\/vc_column_text][\/vc_tta_section][vc_tta_section title=\"Capital\" tab_id=\"1549390159777-8fe1ae3b-7f06\"][vc_column_text]Illinois life sciences companies have received $1.6 billion in venture capital investments from 2014 through 2017. Illinois also boasts state programs to increase access to startup capital like the Illinois Angel Tax Credit Program.<\/p>

\"\"[\/vc_column_text][\/vc_tta_section][\/vc_tta_tour][\/vc_column][\/vc_row]<\/p>","_et_gb_content_width":"","footnotes":""},"class_list":["post-9241","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/pages\/9241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/comments?post=9241"}],"version-history":[{"count":5,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/pages\/9241\/revisions"}],"predecessor-version":[{"id":9257,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/pages\/9241\/revisions\/9257"}],"up":[{"embeddable":true,"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/pages\/9218"}],"wp:attachment":[{"href":"https:\/\/ibio.org\/wp-json\/wp\/v2\/media?parent=9241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}