mHub

Chicago,
IL
(2023)

mHub

Incubator, Manufacturing

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

Central Bank of Kansas City, FirstPathway Community Development, Midwest Renewable Capital, SCORE

Investor

Fifth Third

Project Description

The project supported the acquisition and rehabilitation of a historic building that will be home to an innovation hub for Minority- and Women-Owned Business Enterprises (MWBEs) located in Chicago, IL with a specific focus on MWBEs in 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.

MAP

Address: 240 N Ashland, Chicago, IL 60642

Census Tract: 17031280400

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