A planned $40 million industrial park along Galena Road in Peoria is getting some state funding to move the project forward.
The Illinois Department of Commerce and Economic Opportunity’s latest awards in the Regional Site Readiness program include a $150,000 planning grant for Peoria County to assess infrastructure needs at the 53-acre site.
“Preparing sites for future business investment is one of the best ways we can strengthen our regional economy and create good-paying jobs,” said State Sen. Dave Koehler, D-Peoria.
Earlier this year, the Peoria City Council approved rezoning the site for the business park from residential to industrial, qualifying the project for the site readiness funding program. The location is within the Galena Road Industrial Park tax-increment financing district [TIF] the city established in 2024.
The prospective business center is one of two Central Illinois projects receiving DCEO funding in the second round of site readiness awards. A $3 million grant for Bloomington’s Central Illinois Regional Airport will cover half of construction of a new air cargo road.
“These grants will help ensure our communities are ready to attract new employers, expand economic opportunity and support long-term growth across central Illinois,” said Koehler.
