This EDA investment supports the watermark auto group, a 501C3 foundation, with renovating an existing building, known as the citadel, built in 1914 located in the heart of marion, illinois, to create…

Project Grant Awarded

Award ID
067906367
Recipient
Awarding agency
Obligated
$3,876,520

Award facts

Assistance listing
11.307 Economic Adjustment Assistance
Completion date
Not on record
Funding
  • $3,101,216.00 Federal
  • $775,304.00 Non-federal
Place of performance
Marion, IL 62959, USA

Award details come from USAspending.gov.

Description

As the agency reported it.

This EDA investment supports the watermark auto group, a 501C3 foundation, with renovating an existing building, known as the citadel, built in 1914 located in the heart of marion, illinois, to create the ethos business incubator. The new incubator will provide 21,000 square feet of space for small business training and related services as well as leasable space to be occupied by small businesses and entrepreneurs. The project will help boost entrepreneurship and small business growth as both a source of new economic diversity and a way to assist workers displaced by the coal industry's transition. Once completed, the project will increase capacity and attract private investment to an area that has been impacted by the decline in the coal industry.

Quick answers

Who received award 067906367?

067906367 was awarded to Watermark Auto Group Foundation by Economic Development Administration (Department of Commerce) on July 26, 2022.

How much is award 067906367 worth?

$3,876,520 has been obligated on 067906367: $3,101,216 in federal funding and $775,304 in non-federal funding.

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