Project Roadmap
project approval & review process
When evaluating or initiating a project in Downers Grove, make the Downers Grove Economic Development Corporation (DGEDC) your essential first stop. Strategically structured as an independent 501(c)(6) organization, the DGEDC delivers prompt, confidential guidance on your proposals entirely outside the formal public review process. Engaging our team before submitting permit applications allows you to identify site potential, address hurdles early, and accelerate your development schedule. Additionally, we connect you directly with key contacts across our active investor network—seasoned local professionals who bring the practical, boots-on-the-ground expertise required to streamline municipal processes, eliminate delays, and lower overall project costs. Partner with the DGEDC early to ensure a smooth, efficient launch in Downers Grove.
The Community Development Department supports residents, businesses and developers in enhancing and advancing properties throughout Downers Grove. The department includes both the Planning and Code Compliance Divisions, working together to guide projects from concept to completion.
The Planning Division serves as the primary resource for development approvals, providing guidance on processes, requirements and next steps. This includes site plan review, building permits and applications for variances and special uses.
It also oversees key planning frameworks, including the Comprehensive Plan, Downtown Master Plan, and Ogden Avenue Plan, while administering the Village’s Zoning Ordinance and Subdivision Regulations to ensure thoughtful, balanced growth. The staff acts as the liaison to the Plan Commission and the Zoning Board of Appeals.
financing your project
Downers Grove has many financial institutions that can provide financing for your business project. Below you will find several resources, including state and federal, that we encourage you to take advantage of.
First Financial Bank (formerly Bank Financial)
Community Bank of Downers Grove
illinois department of commerce and economic opportunity: advantage illinois
Advantage Illinois consists of multiple programs to encourage institutional lending to small businesses, as well as the Invest Illinois Venture Fund to leverage private capital in start-ups and high-growth sectors. Advantage Illinois is funded by $78 million in federal funds from the State Small Business Credit Initiative (SSBCI) which is reserved in a State Treasurer’s account solely for this purpose.
duPage county C-PACE program
C-PACE is an innovative tool that enables commercial property owners to obtain up to 100% long-term, fixed-rate financing for energy efficiency, renewable energy, resiliency, water use and electric vehicle charging building improvements to both existing buildings and new construction projects. The term of a C-PACE financing may extend through the useful life of the improvement, which may be up to 20-30 years long, and can result in cost savings that exceed the amount of the C-PACE financing.
small business administration (SBA) loan programs
The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.
The 504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation.
The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The maximum loan amount is $50,000, but the average microloan is about $13,000. Microloans are provided by intermediary lenders.
State Resources
advancing innovative manufacturing (AIM) – New in 2026
The Advancing Innovative Manufacturing Illinois Tax Credit (AIM) is a new tax incentive program designed to accelerate manufacturing projects that integrate cutting-edge technologies into their processes. Established in 2025, AIM is designed to strengthen business growth and investment across the state’s top industry sectors. The program supports projects that utilize advanced manufacturing and involve substantial qualified capital improvements.
Program Incentives:
- 3% credit on qualified investments of at least $10,000,000 or more, but less than $50,000,000
- 5% credit on qualified investments of at least $50,000,000 or more, but less than $100,000,000
- 7% credit on qualified investments exceeding $100,000,000
illinois angel investment tax credit program
The Illinois Angel Investment Tax Credit Program encourages investment in innovative, early-stage companies to help obtain the working capital needed to further the growth of their company in Illinois. Investors in companies that are certified as Qualified New Business Ventures (QNBVs) can receive a state tax credit equal to 25% of their investment (up to $2 million). Investors in companies that are designated Set-Aside QNBVs can receive a tax credit equal to 35% of their investment (up to $2 million).
economic development for a growing economy tax credit program (EDGE)
Illinois’ Economic Development for a Growing Economy (EDGE) Tax Credit Program provides annual corporate tax credits to qualifying businesses, which support job creation and capital investment and improve the standard of living for all Illinois residents.
Program Incentives:
The EDGE program offers a credit for corporate income taxes for Tier I or withholding taxes for Tier II.
- Tax Credits for New Hires: 50%
- Tax Credits for Retained Jobs: 25%
- Additional Savings: In underserved areas, these savings increase by an additional 25%
- Training Costs: The program also offers a credit for 10% on new employee training costs
illinois apprenticeship education expense tax credit program
The Illinois Apprenticeship Education Expense Tax Credit is a state incentive that awards Illinois businesses for hiring and training qualified apprentices. Participating employers can receive a tax credit against their Illinois income tax liability for qualified education expenses incurred on behalf of eligible apprentices.
This program supports workforce development in high-demand industries, prioritizing the recruitment and retention of a skilled workforce for Illinois companies.
Program Incentives:
- $3,500 per eligible apprentice annually
- Additional $1,500 credit per apprentice if either
- The apprentice resides in an underserved area, or
- The employer’s business is located in an underserved area
- Networking with other apprenticeship resource partners
- Access to DCEO’s network of business support specialists
prime sites capital grant program
The Business Attraction Prime Sites Capital Grant Program assists companies with large-scale capital investment projects that commit to significant job creation for Illinois residents as they relocate or expand operations within Illinois.
Award amounts for eligible projects will be formula based, and an applicant may apply for a grant of up to $10,000 per new job created. Grants will range from $250,000 to $25 million. This grant opportunity also includes a 1:1 match requirement, meaning grant funds can only cover 50% of the total eligible capital expenses for the proposed project.
Eligible projects may include new construction and renovation of industrial and commercial facilities, including associated infrastructure improvements and the purchase and installation of durable equipment. Construction or renovation of facilities to be used as warehouses are not eligible.
get in touch
Send a message or inquire about becoming a DGEDC Investor!
Call Our Office
P: 630.729.0380
message from the president & CEO
The DGEDC’s impact is made possible by our Investors and Board of Directors. Their leadership continues to strengthen Downers Grove’s reputation as a premier destination for corporate and division headquarters in the Chicago area.
President & CEO, The DGEDC
