ROCK ISLAND, Ill. — Some Rock Island businesses will soon receive an economic boost from the city as part of the city's Growing Rock Island Together Program (GRIT). The program was launched six months ago and is made possible through nearly a million dollars of federal ARPA funds.
One of the three businesses to take advantage of the program is Wake Brewing. The brewery is planning a $135,000 renovation and expansion, including significant upgrades to the electrical, plumbing and HVAC systems. The business will also reconfigure its restrooms and garage doors, do some structural repairs and add a new walk-in cooler to support the expansion of business operations.
"We're very excited to see Wake continue to move forward with investing in, not only its existing building, but move into new buildings nearby as well," Rock Island Community and Economic Development Director Miles Brainard said
The program will match up to 30% of $50,000 of total project costs. Half of the loan will be forgivable with no interest attached. The other half will be repaid to the GRIT program in 3% interest.
Brainard says investing in businesses that make the community unique should benefit everyone.
"There's no added costs for the citizens here in the community," he said. "In fact, they should see a lot of benefits as more jobs are hopefully created as these businesses expand, more sales tax revenue for the local government as these businesses begin to add capacity. It's really a win-win all the way around."
Miles feels Rock Island is on the upswing as a lot of projects get underway. He says a lot of new investments are being made in both the private and public sectors.
The other two businesses currently approved for GRIT funding are QC Pancake House and Medialink. The application for the program can be found here.