Kane Matching Grant Creates $10,000 Incentive to Help Businesses Grow Exports

Kane Matching Grant Creates $10,000 Incentive to Help Businesses Grow Exports

/ April 4, 2016 / Comments Off on Kane Matching Grant Creates $10,000 Incentive to Help Businesses Grow Exports / Business, Government, Jobs, Local Economy, WK-Business

How would you like $10,000 to grow your export business?

Kane County officials announced today (Monday, April 4, 2016) that the county will match any Chicago Metro Exports grant of up to $5,000 — a program established last year to help small- and mid-sized businesses grow in international trade, specifically through exports.

The Metro Chicago Exports Grant Program, presented by JPMorgan Chase & Co., awards grants up to $5,000 to businesses throughout Northeastern Illinois. The Kane County Exports Grant Program provides an additional incentive: Companies located in Kane County that apply for, and are awarded, a grant from Metro Chicago Exports, are eligible for up to an additional $5,000 from Kane County to reimburse 50 percent of eligible expenses associated with implementing an export plan.

In fall 2016, Metro Chicago Exports will host a pitch fest during which both 2015 and 2016 grant recipients will be eligible to submit a pitch for additional funding totaling $30,000. Information about the pitch fest will be shared closer to its launch.

The 2016 Grant Program builds on the success of last year’s program which provided 54 Northeastern Illinois-based companies, eight from Kane County, with grants for reimbursing costs associated with exporting, including executive training, trade show participation, and international certifications.

Metro Chicago Exports’ mission is to increase exporting by small and medium-sized companies in the seven-county region (comprised of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties), thereby increasing revenue and driving regional growth. Metro Chicago Exports is also part of the Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase that aims to catalyze a shift in economic development priorities and practices resulting in more globally connected metropolitan areas and more sustainable economic growth.

“Exporting enables companies to reach new customers, but the process of selling to foreign markets can be difficult to navigate,” said Metro Chicago Exports Managing Director Thomas Hulseman. “Through our Grant Program, we help companies engage in the global market by offsetting the costs associated with exporting, whether that is market research, international compliance costs or other vital investments. As grant recipients grow their bottom lines through exporting, they ultimately bolster their local operations and bring economic benefits back to the region.”

The 2016 Metro Chicago Export Grant Program is funded through a $250,000 contribution from JPMorgan Chase & Co. This year’s contribution will also enable a $20,000 total investment to help defray the costs for companies that participate in Illinois’ executive ExportTech program.

Applications for the 2016 Grant Program will be accepted through May 27, 2016, with grant award notifications commencing on or around July 11, 2016. The application process involves two steps – an initial online Client Assessment and a formal review of export plans, capabilities and potential. Companies that pass the Client Assessment phase will be invited to submit more comprehensive information about their plans to go global as part of the Grant Application process. If potential barriers to maximizing export potential are identified during the Client Assessment, companies may be referred to export service providers to assist them in formulating international export plans.

Details and eligibility requirements pertaining to the 2016 Metro Chicago Exports Grant Program are available at www.MetroChicagoExports.com.

If you have any questions please contact Chris Toth of Kane County Development and Community Services Department at tothchris@co.kane.il.us or (630) 232 – 3491.

WHO IS ELIGIBLE

Companies located in Kane County which are awarded a grant from Chicago Metro Exports.

WHAT GRANTS COVER

Grant awards up to an additional $5,000 to reimburse 50 percent of eligible expenses to support the company’s next steps to going global.

WHERE BUSINESSES CAN APPLY

Program information and applications are available at www.MetroChicagoExports.com.

Questions can be directed to Lisa Reijula, Program Manager, at 312-589-5773.

A pyramid of balls with the word Import on most of them and one marked Export and an arrow in it, symbolizing a trade imbalance and the need to focus more on exporting and less on importing goods

PROCESS FOR KANE COUNTY COMPANIES REQUESTING ADDITIONAL FUNDS FROM KANE COUNTY

  • Metro Chicago Exports’ application process involves two steps – an initial online Client Assessment and a formal Grant Application review of export plans, capabilities and potential. Companies that pass the Client Assessment phase will be invited to submit more comprehensive information about their plans to go global as part of the Grant Application process.
  • Companies located in Kane County may request up to $5,000 in additional funding for eligible activities and/or services by including them in their Grant Application to Metro Chicago Exports.
  • MCE will review the applications along with other regional applications.
  • For applications from companies located in Kane County that are approved, MCE will advise Kane County regarding applications which include requests for additional funding from Kane County.
  • Requests for funding from Kane County will be additionally reviewed by staff with final approval by the Jobs Committee of the Kane County Board.

MONITORING, REIMBURSEMENT AND EVALUATION

  • MCE will monitor the grants through their established process.
  • Requests for reimbursement of eligible activities and/or services from Kane County funds will be initially reviewed by MCE and forwarded to Kane County for additional review and payment.
  • MCE will evaluate and report on the effectiveness of the grants through their established process with additional reporting on the effectiveness and results of the additional Kane County funds.
  • The Kane County Jobs Committee may develop additional evaluation and reporting criteria, and if so, will report their findings to the Kane County Board and to MCE.

Metro_Chicago_ExportsAABOUT METRO CHICAGO EXPORTS

Metro Chicago Exports represents an unprecedented collaboration between the City of Chicago/World Business Chicago and the seven counties in Northeastern Illinois (Cook,

DuPage, Kane, Kendall, Lake, McHenry and Will) with the goal of increasing exports from small and mid-sized enterprises and supporting regional job growth.

CONTACT CHICAGO METRO EXPORTS

  • Thomas Hulseman, Managing Director 312-589-5789
  • Lisa Reijula, Program Manager 312-589-5773, lreijula@metrochicagoexports.com

CONTACT KANE COUNTY

  • Mark D. VanKerkhoff, AIA, Director, Kane County Development & Community Services Department (630) 232-3451, vankerkhoffmark@co.kane.il.us
  • Chris Toth, Land Use Planner, Kane County Development & Community Services Department, (630) 232-3491, tothchris@co.kane.il.us

2015 KANE COUNTY GRANT AWARDEES

  • Riverbank Laboratories, Inc. — Geneva
  • Miner Elastomer Products Corporation — Geneva
  • SBS Steel Belt Systems USA — Gilberts
  • InFlight Entertainment Products — Carpentersville
  • AIR802 — Aurora
  • Radco Industries, Inc. — Batavia
  • Micro Products Company — Batavia
  • Brasel Products, Inc. — Batavia

SOURCE: Kane County Development Department

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