Public Accountability Report Public Accountability Report

2024 Economic Equity and Empowerment
Mission Statement The Office of Economic Equity and Empowerment (OEEE) is committed to providing minority-, women-, persons with disabilities and veteran-owned small businesses and entrepreneurs across the state with equitable access to opportunities and resources. Through dynamic partnerships, targeted outreach, and tailored programs and initiatives, OEEE aims to create an inclusive business ecosystem for communities that have traditionally faced systemic barriers to entry and growth.
Program Goals and Objectives
  1. Ensure minority enterprises have an equal opportunity to contribute to the growth of the Illinois economy.
    1. Provide capital funds via a competitive application process, to equip minority-owned businesses with the resources to create jobs, build scale and capacity, increase revenues, and expand regionally.
    2. Provide financial assistance and license application benefits to qualified social equity applicants most directly and adversely impacted by the enforcement of cannabis-related laws who are interested in starting cannabis business establishments.
  2. Serve as an advocate for businesses, entrepreneurs and start-ups in traditionally economically-disadvantaged groups.
    1. Launch and administer funding initiatives via competitive application processes, to equip targeted businesses with the resources to create and retain jobs, build scale and capacity, increase revenues, and expand regionally.
      1. Provide financial assistance and license application benefits to qualified social equity applicants most directly and adversely impacted by the enforcement of cannabis-related laws who are interested in starting cannabis business establishments.
        Source of Funds General Revenue Fund, Cannabis Business Development Fund, Cannabis Regulation Fund Statutory Authority 30 ILCS 750/9, 705/7
        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) $ 112,018.0 $ 5,375.7 $ 122,310.2 $ 23,867.8 $ 3,919.9
        Total expenditures - state appropriated funds (in thousands) $ 112,018.0 $ 5,375.7 $ 122,310.2 $ 23,799.4 $ 3,919.9
        Average monthly full-time equivalents 15.0 14.0 14.0 13.0 8.0
        Output Indicators
        Social Equity Licensees that received technical assistance for Cannabis License Applications 300.0 0.0 750.0 200.0 836.0
        Social Equity Applicants and/or Licensees that received financial assistance for Cannabis Licenses 100.0 2.0 50.0 50.0 0.0
        Businesses/start-ups who utilized incubators for space 0.0 139.0 15.0 23.0 9.0
        Businesses serviced by incubators (networking and consulting provided) 0.0 436.0 300.0 1,038 1,272
        Professional services and training programs provided by incubators 0.0 33.0 50.0 63.0 70.0
        Jobs created through grants to minority owned businesses 125.0 59.0 125.0 258.0 113.0
        Jobs retained through grants to minority owned businesses 75.0 167.0 75.0 98.0 60.0
        Construction and/or renovation, additions, or structures capital projects initiated through grants to minority owned businesses 25.0 0.0 1.0 1.0 13.0
        Land and building acquisition projects initiated through grants to minority owned businesses 10.0 1.0 1.0 1.0 3.0
        Increase in Business Revenue Attributable to OEEE Grant Assistance (in millions) $ 1.5 $ 2.4 N/A $ 1.8 $ 0.0
        Number of minority clients trained at Economic Empowerment Centers (a) 100.0 0.0 100.0 0.0 0.0
        Number of jobs created through training at Economic Empowerment Centers (a) 50.0 0.0 50.0 0.0 0.0
        Number of jobs retained through training at Economic Empowerment Centers (a) 25.0 0.0 25.0 0.0 0.0
        Number of minority clients advised at Economic Empowerment Centers (a) 100.0 0.0 100.0 0.0 0.0
        Number of new business starts attributed to Economic Empowerment Centers (a) 10.0 0.0 10.0 0.0 0.0
        Footnotes
        This is a new metric for fiscal year 2024.

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