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Tier 1 Investment

Who is eligible:  Manufacturers and companies engaged in research and development related to the following industries: 

  • Electric vehicles including evTOL or larger hybrid aircraft, 
    • Component parts, 
    • Battery lifespan solutions, 
    • Battery raw materials refining solutions and 
    • Charging stations. 
  • Renewable energy, including wind, solar, nuclear energy
    • Systems or products manufacturers and assemblers
    • Products or components manufacturers used for energy storage and grid efficiency purposes. 
  • Green steel manufacturers.  

Any applicant company must also commit to make a capital investment of at least $2.5 million and create at least 50 jobs (or the equivalent of 10% of statewide employment) within four years.

Once approved:

  • Annual reporting is required for all approved REV Illinois recipients. This will include payroll reporting, sexual harassment attestations, vendor and workforce diversity reporting, and recycling contracts requirements.

  • Companies must ensure competitive wages for full-time employees.

  • A project labor agreement must be secured if the company plans to apply for construction credits. 

  • Companies must receive a green building certification within two years of the project being “placed in service,” meaning the jobs and capital investment thresholds are met.