This EDA investment supports the city of streator with renovating the streator incubator building and providing enhanced small business start-up incubation services for the illinois region

The City of Streator, Illinois received a $1.185 million Project Grant award from the Department of Commerce's Economic Development Administration (EDA) under the Economic Adjustment Assistance (EAA) program. The funding will support renovations to the Streator Incubator Building and enhance small business start-up incubation services for the Illinois region through December 2025. Specifically, the project entails architectural, HVAC, IT, safety, and parking improvements to the incubator facility. The newly renovated building and technical assistance provided by incubator staff and partners will attract high-growth startups and entrepreneurs throughout LaSalle County. The resulting new businesses and jobs created at the incubator are expected to help the region recover from pandemic-related unemployment, diversify its economy, and gain greater resilience against future shocks.

The city's unemployment rate was driven higher by the covid-19 pandemic and resulted in several business closures throughout the area. The streator incubator is a source of economic activity and new business growth. The project work includes architectural, HVAC, IT, safety, and parking improvements. The newly renovated incubator building and technical assistance provided by the incubator staff and partners will be an attractive destination for high-growth start-UPS and entrepreneurs throughout the lasalle county region. The resulting new businesses and jobs created at the incubator will help the region recover, diversify, and be more resilient in the face of future economic shocks like the pandemic.