Illinois Statutes Chapter 20. Executive Branch § 605/605-1090. Illinois Innovation Voucher Program

(1) must encourage participation among small and mid-sized businesses;

(2) must encourage participation in the Program in diverse geographic and economic areas, including urban, suburban, and rural areas of the State; and

(3) must encourage participation in the Program from businesses that operate in key industries, as defined by the Department. These industries include, but are not limited to, the following: (i) agribusiness and agtech; (ii) energy; (iii) information technology; (iv) life sciences and healthcare; (v) manufacturing; and (vi) transportation and logistics.

(1) the business must be an Illinois-based business. For the purposes of this Section, “Illinois-based business” means a business that has its principal place of business in this State or that employs at least 100 full-time employees, as defined under Section 5-5 of the Economic Development for a Growing Economy Tax Credit Act, in this State;

(2) the business must remain in this State for the duration of research engagement; and

(3) the partnering institution of higher education must be an Illinois-based institution of higher education and non-profit. For the purposes of this Section, “Illinois-based institution of higher education” means an institution of higher education that has its main physical campus in this State.