The Illinois Department of Commerce and Economic Opportunity (DCEO) announced a $9 million Notice of Funding Opportunity to boost the development of wet labs across Illinois.
Illinois’ life sciences community is large and continues to grow. The recent surge in venture capital investment into our startup ecosystem fuels the need for expanded access to wet lab space in our community.
DCEO’s Rebuild Illinois Wet Lab Captial Program seeks to build on Illinois’ recent wet lab development trend. Thanks to developments by Trammell Crow Company, Sterling Bay, Rosalind Franklin, and the Illinois Science + Technology Park, our community has the highest new lab construction levels as a share of existing inventory in the nation. A total of 530,224 sq. ft. will be delivered by the end of 2020, with an additional 423,454 sq. ft. coming online in 2021.
According to DCEO, grant funds will be awarded on a competitive basis to fund the construction or renovation of facilities that house wet lab space and promote the growth of life sciences in Illinois. The grant funds are limited to capital expenses.
Preferred project locations will be where new wet lab development is likely to act as a catalyst to the local economy due to its proximity to other life sciences companies, researchers, and educational institutions.
DCEO will be conducting a Wet Lab Capital Program Technical Assistance Webinar on November 18, 2020, at 11 am. You can register for the webinar here.
Grant applications are due by January 27, 2021. For more information and details on this grant opportunity, click here.