STREATOR – The “maker’s lab” recommended for Streator’s Business Incubator is set to be a regional facility. City Manager Dave Plyman says the nearly million-dollar grant awarded to the city, will not only fund renovation but assist in the establishment of a creator’s studio to support businesses.
Materials like 3D printers will be provided to establish a DIY workshop that even Illinois Valley Community College and local industries can benefit from, according to Plyman.
The Streator Incubator Feasibility Study by the University of Illinois, states that the end goal is to help local entrepreneurs build their businesses, graduate from the incubator, and successfully integrate into the local economy.
The $948,000 grant will also allow for structural, HVAC and technology upgrades, as well as the installation of a fire alarm system and parking improvements. The EDA investment will be matched with $237,000 in local funds and is expected to create 50 jobs and generate $1 million in private investment, according to grantee estimates.
North Central Illinois Council of Governments is being recommended for grant administration services.
You can check out more findings on the 2020 feasibility study here: https://extension.illinois.edu/blogs/building-entrepreneurial-communities/2020-10-14-streator-incubator-feasibility-study
