State - Illinois
Department of Commerce & Economic
Opportunity-
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Business Enterprise Act PDF
The Business Enterprise for Minorities,
Females and Persons with Disabilities Act helps state government
promote the economic development of businesses certified as
owned and controlled by minorities, females and persons with
disabilities. It does so by establishing a goal that at least
19 percent of procurement contracts let by the state go to
businesses certified under the Act. There are currently 62
agencies and nine universities letting contracts subject to
the Act.
Program Activities
Day-to-day activities designed to help
meet the contracting goal:
- Agency Training Program staff work with each agency’s
purchasing group to educate them about the Act and provide
them with information about BEP-certified businesses interested
in contracting with the state.
- Compliance and Monitoring Program staff help ensure that
agencies actively consider BEP-certified businesses when issuing
bids/proposals or when entering into contracts.
Program Eligibility
The program is open to:
Minority Business Enterprise (MBE): A business
concern which is at least 51 percent owned by one or more minority
persons or, in the case of a corporation, at least 51 percent
of the stock of which is owned by one or more minority persons,
and the management and daily business operations of which are
controlled by one or more minority individuals who own it. The
51 percent owners must be U.S. citizens or resident aliens.
Minority is defined as:
- Black/African American: A person having origins in any of
the black racial groups in Africa
- Hispanic: A person of Spanish or Portuguese culture with
origins in Mexico, South or Central America or the Caribbean
Islands, Spain or Portugal regardless of race
- Asian American: A person having origins in any of the original
peoples of the Far East, Southeast Asia, the Indian Subcontinent
or the Pacific
- Native American or Alaskan Native: A person having origins
in any of the original peoples of North America
Female Business Enterprise (FBE): A
business concern which is at least 51 percent owned by one or
more females or, in the case of a corporation, at least 51 percent
of the stock of which is owned by one or more females, and the
management and daily business operations of which are controlled
by one or more females who own it. The 51 percent owners must
be U.S. citizens or resident aliens.
Person with a Disability (PBE): A
business concern which is at least 51 percent owned by one or
more persons with a disability or, in the case of a corporation,
at least 51 percent of the stock of which is owned by one or
more persons with a disability, and the management and daily
business operations of which are controlled by one or more persons
with a disability who own it. The 51 percent owners must be U.S.
citizens or resident aliens. The Act also qualifies not-for-profit
agencies for persons with a disability organized pursuant to
Section 501 of the Internal Revenue Code of 1954 (this is the
only instance in which not-forprofit entities are eligible under
the Act).
Combinations: When
a business concern is owned by at least 51 percent of any combination
of minority persons, females, or persons with disabilities, even
though none of the three classes alone holds at least a 51 percent
interest, the ownership requirement for purposes of the Business
Enterprise Act is considered to be met. The certification category
for the business is that of the class holding the largest ownership
in the business.
Annual Sales Limitation
Eligible businesses must have annual gross sales of $27 million
or less for the most recent fiscal period. However, businesses
with gross sales over $27 million can apply for a waiver to
participate in the program on an individual contract basis,
if the contract will provide significant employment and/or
subcontracting opportunities for minorities, females and persons
with disabilities.
For More Information
You can obtain more information about the program and the necessary forms
by contacting:
Business Enterprise Program for
Minorities, Females, and Persons with Disabilities
James R.Thompson Center
100 West Randolph Street
Suite 3-350
Chicago, Illinois 60601
Telephone: (312) 814-4190 (Voice or TDD/TTY)
(800)
356-9206 (BEP Toll-Free Line)
(800)
526-0844 (Illinois Relay Center)
(312)
814-5539 (Fax)
__________________________________________________________________________________________________________________________________
Capital Access Program PDF
The Capital Access Program (CAP)
is designed to encourage lending institutions to make loans to
businesses that do not qualify for conventional financing. CAP
is based on a portfolio insurance concept where the borrower and
the Department of Commerce and Economic Opportunity each contribute
a percentage of the loan amount into a reserve fund located at
the lender's bank. This reserve fund enables the financial institution
to make loans beyond its conventional risk threshold and is available
to draw upon to recover losses on loans made under the program.
A CAP loan is a private market transaction between
the lender and the borrower with all terms, fees, conditions,
rates, collateral, etc., being determined by the lending bank.
The borrower's non-refundable contribution to the reserve fund
must be between 3 and 7 percent of the total loan amount. DCEO
will provide a matching contribution. A 133 percent match to
the borrower's contribution will be provided on the first $2,000,000
in CAP loans enrolled at the lender bank. A higher match will
be provided to minority/woman/disabled owned businesses (150
percent) and businesses located in a federally designated Empowerment
Zone or Enterprise Community (200 percent). Loan proceeds cannot
be used for debt refinancing or for financing passive real estate
ownership.
Eligibility
The business must be for-profit, located in Illinois and employ
500 employees or less. The borrower cannot be in the business
of manufacturing or selling firearms at wholesale or retailor
in the business of manufacturing or selling tobacco products,
liquor or sexually explicit materials at wholesale.
Contact Information
Illinois Department of Commerce and Economic Opportunity
Business Finance Division
Chicago Office:
James R.Thompson Center
100 W. Randolph, Suite 3-400Chicago, Illinois 60601
(312) 814-9303 TDD: (800) 419-0667
Springfield Office:
620 East Adams
Springfield, Illinois 62701
(217) 782-3891 TDD: (800) 785-6055
_________________________________________________________________
Illinois Edge PDF
The Illinois EDGE program is administered
by the Illinois Department of Commerce and Economic Opportunity
(DCEO). A Business Investment Committee of the Illinois Economic
Development Board (IEDB) makes recommendations regarding the
types of projects that may seek this tax credit. DCEO's review
will be based on written applications submitted by interested
firms.
The amount of the tax credit is calculated on
a case-by-case basis. The tax credits could be as high as the
amount of tax receipts collected from the Illinois income taxes
paid by newly-hired and/or retained employees of the firm as
pertaining to the project. As a tax credit, the EDGE program
allows a firm to reduce the costs of doing business in Illinois
when compared with similar costs in other states where it could
have located its operation.
The credits would be available to the firm for
up to a total of 10 years for each project. While each annual
tax credit amount cannot be larger than the firm's state income
tax liability (the income tax credits would not be refundable),
the credit can be carried forward for up to five years. Each
firm receiving competitive credits would have to maintain the
jobs created and/or retained along with the capital investment
concurrent with the period in which it claims the credits.
Eligibility
The development project must add to the export potential of Illinois;
for example, manufacturing or services exported out of state
would be acceptable, but not retail trade and personal services.
The project must be an expansion of an existing operation or
a new location. Plant relocations within Illinois are eligible
for consideration only if there is a documented and substantiated
business reason why their current location is inadequate.
Each project must commit to make a capital investment
in the state of at least $5 million and must create a minimum
of 25 new jobs (excluding recalls, transfers, etc.), or the project
must meet the investment and job creation and/or retention requirements
as set forth by DCEO. The applicant must demonstrate that if
not for the credit , the project would not occur in Illinois
by providing documentation evidencing that:
- The applicant has multi-state location options and could
reasonably and efficiently locate outside of the state, or
- At least one other state is being considered for the project,
or
- Receipt of the credit is a major factor in the applicant's
decision and that without the credit, the applicant likely
would not create and/or retain jobs in Illinois, or
- The credit is essential to the applicant's decision to create
and/or retain jobs in the state.
The cost differential should be identified, using
the best available data, in the projected costs for the applicant's
project compared to the projected costs in the competing state,
including the impact of the competing state's incentive programs.
The cost differential should, for example, demonstrate the following:
- specific costs of labor, utilities, taxes and other costs
of an out-of-state site or the industry's cost structure in
the competing region
- specific cost differential due to the impact of a competing
state's incentive programs
Contact Information
Illinois Department of Commerce and Economic Opportunity
Economic Development for a Growing Economy Program
620 East Adams, Third Floor
Springfield, Illinois 62701
Dennis Gorss: (217) 524-8449; TDD (800) 785-6055
Fax: (217) 524-4145
dgorss@illinoisbiz.biz
Illinois Finance Authority-
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The Illinois Finance Authority (IFA) is
a self-financed, state authority principally engaged in issuing
taxable and tax-exempt bonds, making loans and investing capital
for businesses, non-profit corporations, agriculture and local
government units statewide.
IFA Agriculture Programs PDF
Beginning Farmer Bond Program
This program provides affordable financing to farmers by using federally
tax-exempt bonds ("Aggie Bonds") to reduce the interest rate on a loan
to purchase farmland. This program can be used between a buyer and
his/her local lender or between a buyer and the seller for a contract purchase. The
lender or contract seller make all credit decisions for the loan. Loans
may be used to purchase capital assets including farmland, new or used
farm improvements or buildings, new equipment and used equipment when purchased
with farmland. Loan proceeds may not be used to finance a residence.
The maximum loan size is $250,000.
Eligibility requirements include:
- Must be an Illinois resident at least 18 years old
- Have a net worth of less than $500,000
- Borrower will be the principal user of the capital item
- Have not owned a significant amount of farmland
State Guarantee Program for Restructuring
Agricultural Debt
This loan
program allows a farmer to consolidate existing debt and spread
the payments out over a longer term. Loans are made through
a local lender and the lender will receive an 85 percent guarantee
on the principal and interest of the loan. The maximum loan
size is $500,000, and 30 years is the longest term available. The
interest rate can be variable or fixed and must be less than the
market rate of interest generally available to the borrower.
Eligibility requirements include:
- Must be an Illinois resident at least 18 years
old
- Must be the principal operator of a farm who
derives at least 50 percent of gross income from farming
- Have a debt/assets ratio between 40 and 65
percent on a current balance sheet
- Have adequate cash flow and collateral for
the loan
Specialized Livestock Guarantee Program
This program is designed to provide
family-sized livestock operations the access to capital needed
to enter, upgrade or expand their livestock business. Local
lenders receive an 85 percent guarantee of the principal and interest
on the loan. Loan proceeds may be used for the purchase of
capital assets used in livestock production. This includes
construction, purchase or remodeling of livestock facilities and
the purchase of equipment and/or breeding livestock. Purchases
cannot be made more than six months prior to IFA loan approval. The
maximum loan size is $1,000,000, and the maximum term is 15 years. The
interest rate can be variable or fixed, and the interest rate must
be less than the market rate of interest generally available to
the borrower.
Eligibility requirements include:
- Borrower or the owner of a partnership or corporation must
be an Illinois resident at least 18 years old
- Applicant must be the principal operator and materially involved
in the operation
- Debt/asset ratio of borrower generally should not exceed
70 percent after the project is considered unless risk reduction
measures are undertaken
- Cash flow and collateral must be adequate for the loan
Value-Added Stock Purchase
These loans are made by local lenders
who receive an 85 percent guarantee on the principal and interest
of loans to Illinois farmers planning to purchase stock in value-added
entities that further process their commodities. Loan proceeds
are used to purchase stock in a value-added entity. In conjunction
with a purchase, debt may be refinanced to improve lien position
or financial structure, up to the amount of the purchase. A portion
of the stock can be used as collateral for this loan. The
maximum loan size is $100,000, and maximum term is 10 years. The
interest rate can be variable or fixed and must be less than the
market rate of interest generally available to the borrower.
Eligibility requirements include:
- Borrower or the owner of a partnership or corporation must
be an Illinois resident at least 18 years old
- Applicant must be the principal operator and materially involved
in the operation
- Debt/asset ratio of borrower generally should not exceed
70 percent after the project is considered unless risk reduction
measures are undertaken
- Cash flow and collateral must be adequate for the loan
Young Farmer Guarantee Program
This program allows farmers to
make capital purchases that will expand or upgrade their operation. Loans
are made by local lenders who receive an 85 percent guarantee of
the principal and interest on the loan. The loan proceeds
may be used for the purchase of farm related capital assets including
farmland, machinery and breeding livestock. The maximum loan
size is $500,000, and the maximum term is 15 years. The interest
rate can be variable or fixed and must be less than the market
rate of interest generally available to the borrower.
Eligibility requirements include:
- Must be an Illinois resident at least 18 years old
- Must be the principal operator of a farm who derives at least
50 percent of gross income from farming
- Must have a net worth of at least $10,000
- Debt/asset ratio of borrower cannot exceed 70 percent after
the project is considered
- Cash flow and collateral must be adequate for the loan.
State Guarantee Program for Agri-Industries
This program is designed for farmers
and agribusinesses that wish to diversify into new enterprises
or to further process existing crops or livestock. Loans can
be made to farmers or agribusinesses to purchase new or used property,
equipment or other capital items that will be used for one of the
following purposes:
- Growth and development of new crops or livestock not
customarily grown in Illinois
- The further processing of grain or livestock grown in the
state
Loans are made through a local lender who receives
an 85 percent guarantee on the principal and interest of the
loan. The interest rate can be variable or fixed and must
be less than the market rate of interest generally available
to the borrower.
Eligibility requirements include:
- Must be an Illinois resident at least 18 years old
- Must be the principal operator of a farm or land
- Must have at least 50 percent of gross income come from farming
- Must have a gross income of at least $20,000 based on previous
years tax return
- Must have a net worth less than $500,000
- An agribusiness must be located in Illinois, and the products
used must be or will soon be grown in Illinois
- Must have a cash flow and collateral adequate for the loan
SOURCE: http://www.il-fa.com/products/programs.html#VA
_________________________________________________________________
IFA Industrial Participation
Loan Program PDF
The Illinois Finance Authority assists
Illinois businesses that create or retain jobs by offering
a loan participation program in conjunction with their banks.
Through this program the Authority will purchase up to the
lesser of $1,000,000, or a 50 percent participation in the
loan, directly from the borrower’s bank. Details are
available from your IFA Funding Manager.
Benefits
- Participation loans will finance the purchase
of land or buildings, construction or renovation of buildings
and acquisition of machinery and equipment.
- Interest rates are 200 basis points (i.e.,
2.0 percent) below the rate charged to the borrower by the
bank, thereby resulting in a lower blended interest rate on
the loan. Participating banks may retain up to 100 basis points
as a servicing fee. A minimum of 100 basis points must be passed
on to the borrower.
- IFA will share in all collateral prorated
on a first mortgage position (pari passu) with the bank
- Long-term maturities, with a maximum term
of 10 years
- Single application process
Type of Financing
Participating banks will originate, underwrite and service all loans. IFA
staff will review the bank’s analysis to assure it meets IFA standards.
If the maturity exceeds 10 years, IFA requires a balloon payment at the
end of 10 years.
Eligibility
Financing is available to businesses in Illinois that create new or retain
existing jobs. Funds from the participation purchased by IFA must be
used primarily for the acquisition of fixed assets.
Fee
There are no IFA fees. Participating banks may retain a servicing fee;
a minimum of 100 basis points are passed on to the borrower.
SOURCE: http://www.il-fa.com/products/ind_part.html
_________________________________________________________________
IFA Industrial Revenue Bond PDF
The Illinois Finance Authority issues
tax-exempt Industrial Revenue Bonds (IRB’s) on behalf
of manufacturing companies to finance the acquisition of fixed
assets such as land, buildings and equipment. Bond proceeds
also may be used for either new construction or renovation.
Benefits
Benefits of Industrial Revenue Bond
financing include:
- Long-term financing at interest rates lower than conventional
financing, usually below prime
- Fixed or variable rate financing
- Finance up to 100 percent of project cost (subject to credit
approval and underwriting standards of the borrower’s
bank)
Type of Financing
Because of significant up-front costs
of issuance, Industrial Revenue Bond issues of less $1.5 million
generally are not cost effective. Smaller fixed asset projects
may be eligible for financing through other IFA loan programs.
For most companies, bank participation is necessary
before bonds can be sold to investors. The participating bank
will make the credit decision, structure terms and set collateral
requirements. Banks can either (1) guarantee the bonds by providing
a Direct Pay Letter of Credit or (2) purchase bonds directly
to hold as an investment in their portfolio.
Eligibility
Qualified Industrial Revenue Bond projects
include facilities that are primarily used to manufacture or process
tangible products. The Internal Revenue Code defines all IRB eligibility
requirements. Final determination of project eligibility is subject
to a legal opinion from a recognized municipal bond attorney. A
completed Economic Disclosure Statement (EDS) and a Volume Cap
Application must accompany the Industrial Revenue Bond application.
Fee
A non-refundable application fee is
due when the application is submitted. There are also closing fees
plus other applicable charges. For a fee schedule, contact a funding
manager at your local IFA office. In most cases, applications can
be reviewed by staff and considered by the Board of Directors within
30 to 45 days of submission.
SOURCE: http://www.il-fa.com/products/ind_irb.html
_________________________________________________________________
IFA Not-for-Profit Bond Program PDF
The Illinois Finance Authority
helps non-profit, 501(c)(3) corporations secure low-cost, tax-exempt
financing for capital improvement projects through tax-exempt revenue
bonds.
Benefits
Tax-exempt bond financing affords qualified non-profits the opportunity
to purchase capital equipment without depleting cash reserves or paying
the higher costs of traditional debt financing.
Benefits of bond financing include:
- Favorable interest rates - considerably
less than conventional loans
- Long-term financing
- Fixed or variable rate financing
- Up to 100 percent financing
Type of Financing
Tax-exempt financing may be used by non-profits for the acquisition, construction
or
renovation of real estate; the acquisition of machinery, equipment or other
fixed assets or, in some cases, refinancing outstanding debt. The maturity
of the debt will generally match the useful lives of the assets financed.
Eligibility
Any non-profit corporation with a 501(c)(3) designation from the Internal
Revenue Service may be eligible for financing. Projects must be located
in the state of Illinois. Final determination of project eligibility
is subject to a legal opinion from a recognized municipal bond attorney.
Fee
A non-refundable application fee is due when the application is submitted.
A closing fee based on the principal amount of bonds issued is paid to
the Authority at closing. The Authority does not charge an annual fee.
In most cases, applications can be reviewed by staff and considered by
the Board of Directors within 30 to 45 days of submission.
Contacts
Chicago office: (312) 651-1300
Springfield office: (217) 782-5792
Peoria office: (309) 495-5959
Carbondale office: (618) 453-5566
SOURCE: http://www.il-fa.com/products/nfp_501bond.html
_________________________________________________________________
IFA Not-for-Profit Lease Program PDF
The Illinois Finance Authority provides
non-profit, 501(c)(3) corporations with low cost, tax-exempt
lease financing for acquisition of machinery, equipment or
other fixed asset and capital improvement projects.
Benefits
Leasing affords qualified non-profits
the opportunity to purchase capital equipment without depleting
cash reserves or paying the high cost of traditional debt financing.
- 100 percent tax-exempt financing
- Favorable interest rates –considerably
less than conventional loans
- Low transaction costs
Type of Financing
Capital equipment and certain real estate purchases are financed with a
lease purchase agreement between the not-for-profit corporation and the
Illinois Finance Authority. The maturity of the lease will generally
match the useful lives of the assets financed, up to 10 years.
Eligibility
Any non-profit corporation with a 501(c)(3) designation from the Internal
Revenue Service may be eligible for financing. Final determination of
project eligibility is subject to a legal opinion from a recognized municipal
bond attorney. Projects must be located in the state of Illinois. The
maximum lease term is 10 years.
Fee
A non-refundable application fee is due when the application is submitted.
A closing fee based on the face amount of the lease is due at closing.
In most cases, applications can be reviewed by staff and considered by
the Board of Directors within 30 to 45 days of submission.
Contacts
- Chicago office: (312) 651-1300
- Springfield office: (217) 782-5792
- Peoria office: (309) 495-5959
- Carbondale office: (618) 453-5566
SOURCE: http://www.il-fa.com/products/nfp_501lease.html
_________________________________________________________________
IFA Technology Development Bridge Seed
Stage Venture Capital Fund PDF
The Technology Development Bridge is
an Illinois venture capital fund that provides seed stage equity
financing to small technology companies. It is an innovative public-private
partnership, developed by the Illinois Coalition and funded by
the IFA, aimed at helping technology firms access capital they
need to grow and create jobs.
Benefits
- It provides seed and early-stage equity financing
that is often difficult to obtain.
- Leverages private venture investment by accredited
venture capital investors.
- Equity investments typically range from $150,000
to $300,000.
Type of Financing
IFA venture capital investments provide venture and seed financing to Illinois
businesses that have the potential to stimulate long-term employment
and economic activity in Illinois. Investments require a co-investment
by one or more professional venture investors. Businesses are required
to locate their operations in the state of Illinois. IFA will "match”the
terms set forth by a qualified co-investor.
Eligibility
Candidates must be small, privately-owned businesses with less
than 50 employees. The company must be developing or commercializing
a new technology or invention. The investment represents financing
for applied research, development and testing and initial marketing
of a technology, product, process or invention.
Fee
There is no fee.
Contact
To learn more about the Technology Development Bridge, contact Chris Vandenberg
in the Chicago office at (312) 651-1300.
SOURCE: http://www.il-fa.com/products/sb_vc.html
Illinois State Treasurer-
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State Treasurer's Economic Program (STEP) PDF
STEP was created to encourage and
promote economic development and expansion of businesses in Illinois.
Every STEP project is approved at the exclusive discretion of the
Treasurer’s Office. However, loans are not made directly
to the borrower. The financial institution that receives the discounted
deposit determines the credit worthiness of the borrower. STEP
provides Illinois companies with access to affordable capital to
expand their operations and retain or create jobs in the state.
For each permanent full-time job* that is created
or retained, the Treasurer can deposit up to $25,000 at below
market rates into the borrower’s financial institution.
That institution will then lend the money at below prevailing
interest rates to the borrower.
Eligible projects should meet the following
general guidelines:
- Existing Illinois for-profit business
- The project must create and/or retain a minimum of three
Illinois jobs.
- The borrower must be able to demonstrate that the State will
gain long-term benefits from the project.
- The borrower must have the financial ability to carry out
the project.
Eligible use of funds:
- Real estate acquisition
- New construction or remodeling
- Machinery or equipment
Linked-deposit loan amounts and terms:
- Maximum loan amount: $10 million
- Two-year loan term with possible three-year renewal
- $25,000 for each job created and/or retained
- Financial institutions are capped at a 3 percent mark-up
on the state's deposit rate. For the current deposit rate,
go to www.state.il.us/treas/.
Click on Daily Rates.
*Two part-time jobs equal one full-time
job.
_________________________________________________________________
STEP Small Business PDF
The STEP Small Business Program* encourages
the creation and retention of jobs and business activity, recognizing
that small businesses are often where today's jobs are being
created. The program gives small businesses the ability to
get a low-interest loan to help them get up and running or
to keep them in business giving them a better chance of survival
and long-term success.
Eligibility requirements:
- For brand-new start-up businesses or existing businesses
- Brand-new start-up business must create a minimum of two
jobs
- Annual gross sales/revenue (or estimated) of $2 million or
less
Eligible use of funds:
- Real estate acquisition, new construction or remodeling
- Machinery or equipment
- Working capital
- Inventory
Linked-deposit loan amounts and terms:
- Minimum loan, $2,500; Maximum loan, $750,000
- Two-year loan term with possible three-year renewal
- Financial institutions are capped at a 3 percent mark-up
on the state's deposit rate. For the current state deposit
rate, go to www.state.il.us/treas/.
Click on Daily Rates.
*The STEP Small Business Program is available
to assist in our state's economic recovery period commencing
July 1, 2004 through June 30, 2006.
_________________________________________________________________
Economic Recovery Loan Program
(ER) PDF
The focus of ER is to bring new jobs to
Illinois - good-paying jobs with benefits. For each new full-time
job that is created, Treasurer Topinka can deposit up to $50,000
at below market rates into the borrower's financial institution.
A financial institution then can lend the money at below prevailing
market rates to borrowers.
Eligibility requirements:
- Out-of-state business looking to locate in Illinois for the
first time
- Project must bring new, good-paying jobs with benefits to
Illinois
- Borrower must have the financial ability to carry out the
project
- Demonstrate that the State of Illinois will gain long-term
benefits from the project
Eligible use of funds:
- Real estate acquisition
- New construction or remodeling
- Machinery or equipment
Linked-deposit loan amounts and terms:
- Maximum loan amount: $10 million
- Two-year loan term with possible three-year
renewal
- $50,000 for each job created
- Financial institutions are capped at a 2 percent
mark-up on the state's deposit rate. For the current state
deposit rate, go to www.state.il.us/treas/.
Click on Daily Rates.
_________________________________________________________________
For more information on any of these programs,
call (312) 814-1788 (Chicago) or (217) 557-6436 (Springfield),
or log on to www.state.il.us/treas/programs/program_page.htm.
SOURCE: Division of Economic Opportunity brochure
from Judy Baar Topinka, Illinois State Treasurer.
Workforce
Assistance-
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Employer Training Investment
Program (ETIP) PDF
The Employer Training Investment Program
(ETIP) helps keep Illinois workers’skills in pace with
new technologies and business practices. ETIP grants can reimburse
Illinois companies for up to 50 percent of the cost of training
their employees. Grants may be awarded to individual businesses,
to original equipment manufacturers sponsoring multi-company
training for employees of their Illinois supplier companies
and to intermediary organizations operating multi-company training
projects.
Employer Training Investment Program /
Large Company Component (ETIP/LCC)
There are two ways large Illinois companies
(with 250 or more full-time employees) can access state training
funds available through the ETIP/LCC. Individual employers may
apply for grant funds to assist with training their employees.
The multi-company training component allows companies with common
employee training needs to join together in meeting these common
needs and applying for training funds.
Single Company Training Projects
Individual companies (with 250 or more full-time employees) undertaking
eligible training activities may apply for an ETIP/LCC grant. Frequently,
these companies are undertaking a major retention, expansion or location
project in the state. Other situations which may contribute to an individual
company applying for a training grant include a major capital investment
in new equipment or technology(ies) or specialized or customized training
needs not shared with other companies in the area.
Multi-Company Training Projects
Companies that have identified common training needs are encouraged to
apply for ETIP/LCC grant funds under the program's multi-company training
component. An intermediary organization may apply for grant funds on
behalf of the companies participating in the project. This organization
conducts or sponsors the employee training programs. The intermediary
organization coordinates all grant administrative and training evaluation
reporting functions on behalf of the companies in the project.
Eligible applicants include business and industry associations, institutions
of higher education, large manufacturers for supplier network companies,
labor organizations and strategic business partnerships.
Contact Information
Employer Training Investment Program / Large Company Component
620 East Adams Street, 3rd Floor
Springfield, IL 62701
Tel: (217) 785-6284 Fax: (217) 558-6971
rick_rogers@commerce.state.il.us
_________________________________________________________________
Illinois Job Training Assistance PDF
The Workforce
Investment Act (WIA) combines federally-funded job training
programs in Illinois into a "workforce development" system
where individuals can find a job or train for a new career. Services
are provided through the state's one-stop delivery system,
the Illinois Employment & Training Center (IETC) network.
Individuals in Bloomington-Normal and McLeanCounty that wish
to apply for available training programs or obtain other services
should report to the IETC office located in Bloomington for
assistance.
Three Levels
WIA establishes three basic levels of employment and training services
to eligible individuals. All adults, ages 18 or older, are eligible to
receive "core services." Additional "intensive services" are available
to unemployed individuals who have been unable to obtain jobs through
core services and those who are employed but need additional training
services to reach self-sufficiency. "Training services" are also available
for those who meet intensive services eligibility but are unable to find
employment through those services.
Core Services (available to all adults ages 18
years or older):
- Job search and placement assistance (including career counseling)
- Labor market information (which identifies job vacancies;
skills needed for in-demand jobs; and local, regional, and
national employment trends)
- Initial assessment of skills and needs
- Information about and costs for local training providers
- Follow-up services to help customers keep their jobs once
they are placed
Intensive Services (available to eligible adults
who have been unable to find work through core services or need
additional training to reach self-sufficiency):
- Comprehensive assessments
- Development of individual employment plans
- Group and individual counseling
- Case management
- Short-term prevocational services
- Out-of-area job search assistance or relocation assistance
- Internships and literacy activities
Training Services (for those who have received "intensive
services" but are still unable to find employment):
- Occupational skills training
- On-the-job training
- Cooperative education programs and private sector training
programs
- Job readiness training
- Adult education and literacy activities
- Customized employer training
Dislocated Worker and Youth Services
To be eligible for the dislocated worker program, a person must have received
a layoff notice or have been laid off due to a company closure or mass
layoff. Workers may also be eligible if they are currently unemployed
and are unlikely to return to their prior occupation due to economic
conditions in that industry.
To be eligible for the youth program, a person must be between the ages
of 14 and 21, have low income and have a substantial barrier to employment
such as: deficient in basic literacy skills, school dropout, homeless,
a runaway or a foster child, pregnant or parenting, an offender or an individual
who requires additional assistance to complete an educational program or
to secure and hold employment.
Services include:
- Tutoring, mentoring, study skills training
and instruction leading to completion of secondary school
- Alternative school services
- Paid and unpaid work experience (such as internships
and job shadowing)
- Occupational skills training
- Leadership development
- Supportive services
- Guidance counseling
- Follow-up services
