Business Grants

Business Grants are awarded to encourage entrepreneurship, investment, and business success in Urbana's TIF Districts. Both of the following incentive programs may be utilized on the same eligible project. All incentive applications are subject to the availability of funding.

If you have any questions, please contact the Economic Development Division at 217-384-2444. 

Business Development Grant Program

Click here for the full Business Development Grant Application.

The Business Development Grant Program provides support to new, expanding, and transitioning businesses in Urbana’s Downtown and along Cunningham Ave. Businesses in a TIF District may receive a cash grant after completing consultation with either the Small Business Development Center of Champaign County (SBDC) or the East Central Illinois SCORE (SCORE).

How will a Business Development Grant help my business?

The Business Development Grant Program is intended to assist businesses in planning for success and to support those efforts with a modest grant. SBDC and SCORE are two local providers of free business development services, each funded in part by the U.S. Small Business Administration. Whether you are a new business, a growing business, or a business in the midst of a major change these service providers can assist you in plotting your future course. If you participate fully and complete all the steps, then the City of Urbana will award you a Business Development Grant.

What is the maximum grant amount?

Businesses that meet the criteria of a Priority Use may receive a $2,000 grant. Businesses that fall under the criteria of an Eligible Use may receive a $1,000 grant.

Priority and Eligible Uses definitions can be found on the Overview of TIF Incentive Programs page.

 Click here for the full Business Development Grant Application

Business Opening Grant

Click here for the full Business Opening Grant Program Application.

The Business Opening Grant Program provides support to new and expanding businesses in Urbana’s Downtown and along Cunningham Avenue. Priority-Use Businesses located in a TIF Districts may receive a cash grant upon opening and holding a public opening ceremony.

What is the Business Opening Grant?

Business Opening Grants are available to new and expanding businesses located in the Downtown and Cunningham Ave TIF Districts. Grants are awarded to the new business at a business opening ceremony. The business may choose to make this a ribbon cutting ceremony with the Urbana Business Association (UBA) and/or the Champaign County Chamber of Commerce. Photos from the event will be included on the City’s business opening web page. The grant recipient will also be requested to provide the City with a description of the business for use in marketing materials.

What is the maximum grant amount?

Businesses that meet the criteria of a Priority Use may receive a $1,000 grant. Businesses that fall under the criteria of an Eligible Use do not qualify for this grant.

Priority and Eligible Uses definitions can be found on the Overview of TIF Incentive Programs page.

 Click here for the full Business Opening Grant Application.

 

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Created on: Tuesday, September 3, 2013 - 08:59
- Author - BrandonB
- Contributors: BrandonBElizabethHWillK