Springfield, Illinois (WCIA) – Beginning Tuesday, January 18, the City of Springfield will begin accepting applications for the city’s Cannabis Business Assistance Grant Program.
City officials said this was made possible by a portion of local cannabis sales tax revenue.
According to them, this grant is available to new and existing companies that hold at least 51% of minority ownership. The work must be located within the specific area shown below. The online application will open at 8:30 am on Tuesday at www.springfield.il.us/cannabis.
This grant program will provide up to $100,000 in assistance to minority-owned businesses with a 10% matching requirement. Funds awarded to the project must be used for specific items including purchase of equipment and inventory, land acquisition, new construction or renovation, and labor costs at prevailing wage. The goal of the program is to promote business retention and expansion of minority-owned businesses. The application portal will close on Monday, February 28 at 5:00 PM.
Eligibility requirements
– The business is located, is planning to move or will be opened in Limited area From Carpenter Street in the north, Ash Street in the south, Dirksen Parkway in the east and 10y Railroad Street corridor in the west.
The company must be 51% minority owned.
The facility must pay 10% of the project cost in full.
Taxes must be current and up to date.
– No debts owed to the City of Springfield, including parking tickets and CWLP bill payment.
If the scholarship program is approved, each person listed on the company deed must sign the agreement.
The following businesses are not eligible for assistance under this grant program:
– Home Business.
Non-profit organizations. Exceptions may apply. Please contact for details.
A private club or business that limits membership for reasons other than capacity.
Businesses that have at least 33% of their total annual revenue from legal gambling activities unless the business is licensed by the City of Springfield to operate gaming stations.
A business in which the majority owner or immediate family member is an elected official or employee of the City of Springfield.
– A facility similar to any mentioned above.
Questions about this program can be directed to the city’s Office of Planning and Economic Development at (217) 789-2377 or email Info.OPED@springfield.il.us. If a business needs assistance but is not eligible for this program, please contact the city’s Office of Planning and Economic Development for additional assistance.
Source: www.springfield.il.us/cannabis
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