The Illinois Department of Commerce and Economic Opportunity (DCEO) is a state agency in Illinois responsible for a wide range of functions and initiatives aimed at promoting economic development and growth within the state. Its primary mission is to foster economic prosperity and enhance the overall quality of life for Illinois residents. Some of the key activities and responsibilities of the Illinois DCEO include:

1. Economic Development:  The department works to attract new businesses to Illinois and support the growth of existing businesses. This includes aiding businesses looking to expand or relocate within the state.

2. Business Support:  DCEO offers various programs and services to assist businesses in Illinois. This can include financial incentives, grants, and technical assistance to help businesses thrive.

3. Workforce Development:  The department is involved in workforce training and development programs to ensure that Illinois has a skilled and competitive workforce. This includes initiatives to connect employers with qualified workers.

4. Infrastructure Development:  DCEO plays a role in promoting infrastructure development and investment in the state. This can include initiatives related to transportation, broadband access, and other critical infrastructure projects.

5. Tourism and Promotion:  The department works to promote tourism in Illinois, which can boost the state's economy. This includes marketing and supporting tourism-related businesses and attractions.

6. Community Development:  DCEO supports community development projects and initiatives, such as affordable housing programs and initiatives to revitalize economically distressed areas.

7. Energy Efficiency and Sustainability:  The department may be involved in programs and policies related to energy efficiency, renewable energy, and sustainability to promote a cleaner environment and reduce energy costs.

8. Grants and Incentives:  DCEO administers various grants, tax incentives, and financial programs to encourage businesses and organizations to invest in Illinois.

9. International Trade:  The department may support Illinois businesses in their efforts to expand into international markets through export assistance and trade promotion programs.

10. Small Business Support:  DCEO often has programs and resources to support small businesses and entrepreneurs, including access to capital, training, and networking opportunities.

11. Data and Research:  The department collects and provides economic data and research that can be valuable for businesses and policymakers.

The specific programs and initiatives managed by the Illinois DCEO may evolve over time, reflecting the changing needs of the state's economy. The department typically collaborates with various local and regional agencies, as well as private-sector partners, to achieve its economic development goals.

Three of the main programs that are beneficial to Geneva Chamber members are grants, low interest loans and the Small Business Development Center.

Throughout the year businesses can apply for grants based on specific criteria.  The DCEO website also has video training and resources on how to apply for those grants.  For information on grants, click HERE.

Low interest loans are available through the DCEO through local lenders in our area.  The Advantage Illinois – State Small Business Credit Initiative (SSBCI) 2.0 Program will leverage $220 million in funding to support small businesses.  These loans are given through local banks, two banks in our area include Old Second National Bank and St. Charles Bank & Trust.  For more information on low interest loans, click HERE.

The Small Business Development Centers in the State of Illinois offer FREE business advice and mentorship.  The main one in our area is located at Waubonsee Community College.  They offer various forms of education for small business owners.  To learn more about the SBDC at Waubonsee Community College click HERE.

If you would like more information on the Illinois Department of Commerce and Economic Development please visit their website at dceo.illinois.gov..