Public Accountability Report Public Accountability Report

2024 Entrepreneurship, Innovation, and Technology
Mission Statement To support small businesses and startups in Illinois through direct services and a network of resources by providing information, regulatory assistance, advocacy and business guidance.
Program Goals and Objectives
  1. Stimulate economic activity as measured by new venture development, business expansion, capital formation, and job creation and retention.
    1. Increase the number of new business starts assisted.
    2. Increase the number of business expansions assisted.
    3. Increase the dollar value of capital accessed.
    4. Increase the number of jobs created and retained.
    5. Increase the number of jobs retained and created.
  2. Provide client-focused, expert consultation, training, information, and other business services through an integrated regional delivery network utilizing resource partners and information technology for all the citizen demographics of Illinois, including businesses owned by minorities, women, veterans, and persons with disabilities.
    1. Increase the number of Business Information Center clients assisted.
    2. Increase the number of clients trained though our SBDC or other networks.
    3. Increase the number of clients receiving business advice through our Small Business Development Center (SBDC) or other networks.
Source of Funds General Revenue Fund, Small Business Environmental Assistance Fund, Commerce and Community Affairs Assistance Fund Statutory Authority 30 ILCS 750/9
Fiscal Year 2025 Target/Projected Fiscal Year 2024 Actual Fiscal Year 2024 Target/Projected Fiscal Year 2023 Actual Fiscal Year 2022 Actual
Input Indicators
Total expenditures - all sources (in thousands) $ 415,902.0 $ 84,007.8 $ 80,901.3 $ 19,003.3 $ 12,761.4
Total expenditures - state appropriated funds (in thousands) $ 415,902.0 $ 84,007.8 $ 80,907.3 $ 19,003.3 $ 12,761.4
Average monthly full-time equivalents 36.0 35.0 32.4 23.2 13.6
Output Indicators
Business Information Center (BIC) customers assisted 2,000 2,323 10,000 7,375 0.0
Small businesses receiving environmental counseling 900.0 1,159 900.0 986.0 1,401
Small businesses receiving environmental training 100.0 16.0 100.0 0.0 0.0
Web-based environmental assistance provided 10,000 13,427 11,000 9,728 11,450
Businesses assisted with financing through the Advantage IL program 108.0 187.0 100.0 131.0 0.0
Value of business financing assistance leveraged through the Advantage IL program (in millions) $ 23.2 $ 59.4 $ 15.5 $ 25.8 $ 0.0
Business Information Center (BIC) Customers Self- Service (a) 50,000 74,623 0.0 0.0 0.0
Outcome Indicators
New business starts attributable to Small Business Development Center assistance 550.0 302.0 550.0 279.0 236.0
Value of capital accessed attributable to Small Business Development Center assistance (in millions) $ 205.0 $ 50.5 $ 205.0 $ 160.1 $ 63.3
Actual jobs created attributable to Small Business Development Center assistance 2,250 1,730 2,250 1,843 1,389
Actual jobs retained attributable to Small Business Development Center assistance 2,200 71,228 2,200 22,070 2,044
Total clients advised by Small Business Development Centers 9,000 25,177 9,000 16,218 15,371
Minority clients advised by Small Business Development Centers 3,500 7,865 3,500 8,132 7,137
Total clients trained by Small Business Development Centers 14,000 12,049 14,000 7,836 13,053
Actual jobs created attributable to APEX Accelerator assistance 325.0 364.0 325.0 69.0 242.0
Actual jobs retained attributable to APEX Accelerator assistance 600.0 371.0 600.0 98.0 304.0
Dollar value of secured contracts attributable to APEX Accelerator assistance (in millions) $ 500.0 $ 37.8 $ 500.0 $ 528.2 $ 632.4
Total clients advised by APEX Accelerators 1,700 2,475 1,700 2,329 2,456
Minority clients advised by APEX Accelerators 1,000 1,394 1,000 1,311 1,292
Women clients advised by APEX Accelerators 1,000 1,218 1,000 1,186 1,140
Total clients training by APEX Accelerators 1,700 3,372 1,700 3,244 2,230
Minority clients trained by APEX Accelerators 300.0 647.0 300.0 611.0 547.0
Women clients trained by APEX Accelerators 600.0 701.0 600.0 773.0 633.0
Value of exports attributable to International Trade Centers (in millions) $ 212.0 $ 190.5 $ 212.0 $ 78.9 $ 71.2
Investment leveraged by qualified Angel Investment Tax Credits (all) (in millions) $ 60.0 $ 13.8 $ 40.0 $ 8.1 $ 26.3
Investment leveraged by qualified Angel Investment Tax Credits (WMD) (in millions) $ 10.7 $ 5.6 $ 2.0 $ 3.4 $ 4.7
Investment leveraged by qualified Angel Investment Tax Credits (rural) (in thousands) $ 3,600.0 $ 2,000.0 $ 2,000.0 $ 0.0 $ 1,100.0
Value of private investment leveraged by Emerging Tech programs (in millions) $ 10.0 $ 6.0 $ 10.0 $ 0.0 $ 90.2
Number of businesses retained within State through Emerging Tech programs 30.0 29.0 30.0 0.0 8.0
Projected number of jobs created by financing through the Advantage IL program 608.0 878.0 500.0 700.0 0.0
Projected number of jobs retained by financing through the Advantage IL program 999.0 2,282 150.0 1,361 0.0
Innovation Vouchers Program: Federal Funds Catalyzed (in millions) (b) $ 1.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Innovation Vouchers Program: Higher Education Institutions Served (b) 8.0 0.0 0.0 0.0 0.0
Innovation Vouchers Program: Regions Served (b) 5.0 0.0 0.0 0.0 0.0
Innovation Vouchers Program: Private Capital Catalyzed (in millions) (b) $ 1.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Innovation Vouchers Program: Total Project Amount (in millions) (b) $ 2.5 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Innovation Vouchers Program: Total Vouchers Disbursement Amount (in millions) (b) $ 2.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
Innovation Vouchers Program: Voucher Applications (b) 50.0 0.0 0.0 0.0 0.0
Innovation Vouchers Program: Vouchers Approved (b) 30.0 0.0 0.0 0.0 0.0
Footnotes
This is a new metric in fiscal year 2024. This is a new metric in fiscal year 2025.

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