SPRINGFIELD - Continuing to promote entrepreneurship and economic growth in the Central region, Gov. Rod Blagojevich today announced the launch of the University of Illinois at Springfield (UIS) Entrepreneurship Center that will lead to even greater innovation and job creation in Springfield and throughout the Central region. The Central Illinois Entrepreneurship Center Network will include this center as well as Millikin University’s Tabor School of Business’ Center for Entrepreneurship in Decatur. The UIS Entrepreneurship Center will receive $50,000 in Challenge Grant funding through the Opportunity Returns program, which is operated by the Illinois Department of Commerce and Economic Opportunity (DCEO). DCEO Director Jack Lavin represented the Governor today at an announcement in Springfield.
“Entrepreneurs in Springfield and throughout the Central region will have additional tools to expand and grow their businesses with the launch of the UIS Entrepreneurship Center. While it can be challenging to start or expand a business, this center was formed to provide easy access to the information and resources necessary to stimulate the local economy and increase job opportunities throughout the region,” said Gov. Blagojevich. “While our concerted efforts to grow our economy created 48,000 new jobs across the state last year, there is more we can do to create an even brighter future. We must continue providing local residents and businesses with opportunities to get ahead, and we believe the new UIS Entrepreneurship Center will do just that.”
The Central Illinois Entrepreneurship Center Network will act as regional hub to coordinate all small business development, entrepreneurship training and development activity in the Central region, and will provide entrepreneurs with additional tools to make their ventures successful. The UIS location will be the thirteenth entrepreneurship center Gov. Blagojevich has opened since coming into office.
The center will expand and build upon the existing infrastructure currently located at: Millikin University’s Tabor School of Business’ Center for Entrepreneurship in Decatur, Small Business Development Centers at the University of Illinois Extension and Lincoln Land Community College that are both located in Springfield, Heartland Illinois Technology Enterprise Center at the Southern Illinois University School of Medicine in Springfield, and the Illinois Manufacturing Extension Center at the Greater Springfield Chamber
of Commerce. The Central region includes Cass, Christian, Greene, Logan, Macon, Macoupin, Menard, Montgomery, Morgan, Sangamon, Scott and Shelby counties.
Among the many specialized resources the entrepreneurship center will offer is the Challenge Grant program to assist entrepreneurs or small businesses with obtaining professional services for comprehensive business plan assistance, evaluation of a proposed startup or expansion, or other accelerated support purposes. Challenge Grants are awarded to entrepreneurs based on the potential for successful achievement of a significant business milestone. Maximum funding per award is up to $5,000 of eligible project costs and applicants are required to provide a cash match of 100 percent of the award amount. Grants will be awarded based on the display of project viability, growth potential, public purpose or other merit-based factors.
“Local businesses are sure to gain, thanks to this new partnership with the State of Illinois and Gov. Blagojevich. This will only enhance the resources that the UIS business school has to offer its students and the region,” said Dr. Ron McNeil, Dean of the College of Business and Management at the University of Illinois at Springfield. “We’re anxious to get to work and spur economic development throughout Central Illinois.”
“You can’t expect small business to grow without providing the tools they need to succeed. Just one of the tools we provide through our entrepreneurship centers are challenge grants that can give a necessary boost and help a business reach the next level. By creating this new center with UIS, Gov. Blagojevich is demonstrating the ways that Opportunity Returns is working,” DCEO Director Jack Lavin said. “Business growth and opportunity is returning to Springfield, the Central region and the rest of the state, and it will continue thanks to the Governor’s leadership and the perseverance of Illinois residents.”
Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.