Gov. JB Pritzker, in a move to aid recovery from the pandemic's economic blows, has earmarked $5 million in grants to help local chambers of commerce get back on their feet, the state announced yesterday. The Back to Business (B2B) Local Chambers program, fueled by the American Rescue Plan Act (ARPA), offers a financial lifeboat to these organizations that have been a bedrock of support for small businesses across Illinois communities.
"These grant awards will support entrepreneurs who took a risk to establish a business in uncertain times and deserve a fair shot at contributing to our growing economic recovery," Pritzker said. The plan outlined by officials includes using the B2B funding, particularly for marketing, local development, and professional augmentation, essentially aiming to bolster community business ecosystems—laying the groundwork for a hardier economic rebound.
Illinois's Lieutenant Governor Juliana Stratton commended the initiative, emphasizing the role of chambers in creating a thriving economy across the state, especially in areas hit hardest by the pandemic. The program guidelines state that any eligible chamber with an annual revenue of $1 million or less and that can prove revenue declines between 2019 and 2020 may qualify for grant consideration; the deadline for application submission is February 15, 2024, with awards expected to follow promptly.
Adding further to the program's merits, DCEO Director Kristin Richards said, "This B2B funding plays an essential role in helping local chambers of commerce provide financial support and other resources to communities impacted by the pandemic." Allies for Community Business (A4CB) will provide critical backend support, ensuring applicants navigate the process with ease, and walking them through technical issues, an essential factor because, given the complexity of such financial assistance, the path to securing it can be fraught with frustration and confusion.
Recognizing the significant strain that the economic downturn had on these pivotal groups and their communities, state representatives, such as Emanuel "Chris" Welch and Mark Walker, have expressed staunch support for the grants. Elliot Richardson, President of the Small Business Advocacy Council (SBAC), echoed this sentiment, underscoring the importance of supporting the chambers which in turn support small businesses—a virtuous cycle vital for the economy's recovery. The state's financial commitment has now surpassed $1.5 billion in pandemic-related aid for businesses, marking a substantial investment in Illinois's future economic health.
