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Cook County Board President Toni Preckwinkle has announced the launch of the Catalyst Grant, a new program aimed at supporting established businesses in select industries within Cook County. The initiative will provide up to 88 businesses with $100,000 each to help them expand operations, hire or train employees, or upgrade facilities. Applications are open until October 31, 2025.
This marks the first time the Cook County Bureau of Economic Development is targeting established businesses with annual sales over $500,000 for such support. Since 2021, Cook County has allocated $67 million to assist approximately 4,700 small businesses.
"The Catalyst Grant provides established businesses that are on the cusp of growth with a unique opportunity to scale up their operations, accelerating the journey to sustainable success," said President Preckwinkle. "Local businesses are the backbone of our economy and our communities, and my administration remains committed to providing them with a strong support network and access to vital resources."
Eligible applicants must be located in Cook County and operate in one of six industries: construction; finance and insurance; information technology; manufacturing; professional services; or real estate. Businesses must also show documented revenue between $500,000 and $10 million for both 2023 and 2024 as well as demonstrated growth. Selected recipients will be required to use grant funds for business expansion activities.
Derek Douglas, president of the Civic Committee of the Commercial Club of Chicago, commented on the significance of this investment: "The Cook County Catalyst Grant program is the right effort to support Cook County. These investments will fuel the growth of vital businesses across our county which will, in turn, fuel the growth of the broader business ecosystem we’re working to strengthen at the Civic Committee through our Chicago Business Opportunity Initiative. We look forward to continuing to partner with the County and other stakeholders as this critical work gets underway."
The grant program is administered by Allies for Community Business and the Women’s Business Development Center (WBDC), both part of The Source network offering free business advising services throughout Cook County.
WBDC President and CEO Erica Kuhlmann stated: "At the WBDC, we believe that when businesses are ignited, they don’t just grow—they transform communities. The Catalyst Grant is designed to do just that: support growing employer businesses to scale, helping them expand operations, increase workforce capacity and deepen their economic impact. We can’t wait to see how these 88 businesses light up Cook County’s economic landscape."
Jaime di Paulo from the Illinois Hispanic Chamber of Commerce highlighted that nearly 100,000 Hispanic-owned firms operate in Cook County but most have fewer than 20 employees. He noted: "We know that once a business surpasses the 20-employee threshold, it experiences exponential growth. These businesses drive job creation, boost consumer spending, and strengthen supply chains that benefit entire industries... The Catalyst Grant will not only fill a longstanding gap in access to growth capital, it will also help close the wealth gap that the Hispanic community continues to face."
Assistance with applications is available through The Source’s network including organizations like WBDC and Illinois Hispanic Chamber of Commerce. Applicants will learn about their status in December 2025; grants are scheduled for distribution in spring 2026.
More information about eligibility requirements and application details can be found at cookcountysmallbiz.org/catalystgrant.
