New Markets Tax Credit Coalition

  • Chicago,
  • IL
  • (2023)

mHub

District: Danny Davis (D-IL07)

The project supported the acquisition and rehabilitation of a historic building that will be home to an innovation hub for businesses located in Chicago, IL with a specific focus on the HardTech manufacturing industry. mHUB is a nonprofit incubator for HardTech manufacturing, supporting products in the fields of Medical Technology, Climate & Energy Tech, and the Industrial Internet of Things. The project expands the mHUB’s focus on manufacturing business growth by accelerating the development and commercialization of new products […]

Investment

  • NMTC Amount: $39,600,000
  • Total Project Cost: $54,640,000

IMPACT

  • 620 FTE jobs
  • 63 construction jobs
  • 26,964 sq. ft. of real estate

CDEs

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Investor

Project Description

The project supported the acquisition and rehabilitation of a historic building that will be home to an innovation hub for businesses located in Chicago, IL with a specific focus on the HardTech manufacturing industry. mHUB is a nonprofit incubator for HardTech manufacturing, supporting products in the fields of Medical Technology, Climate & Energy Tech, and the Industrial Internet of Things.

The project expands the mHUB’s focus on manufacturing business growth by accelerating the development and commercialization of new products, with the goal of helping underrepresented founders. In partnerships with the city of Chicago, World Business Chicago, MxD, as well as several area universities and colleges, mHUB provides the start-up support and business leadership training required for small businesses and high-tech ventures to launch sustainably.

External Profile

MAP

Address: 240 N Ashland, Chicago, IL 60642

Census Tract: 17031280400

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