BioP2P Staff
Governor J.B. Pritzker and the public-private partnership Innovate Illinois announced $680 million in combined cash match and strategic investments for the Illinois Fermentation and Agriculture Biomanufacturing (iFAB) Tech Hub.
iFAB is one of 31 Economic Development Administration Regional Technology and Innovation Hubs nationally and recently applied for Phase 2 Implementation Grants with the ambition of solidify Illinois’ position as a leader in biomanufacturing and precision fermentation.
“This designation positions Central Illinois to become a global leader in biomanufacturing and precision fermentation over the next decade — bringing economic development and good-paying jobs along with it,” said Pritzger.
The Integrated Bioprocessing Research Laboratory (IBRL) at the University of Illinois Urbana-Champaign leads iFAB along with 30 other key partners. The project’s ambition is to drive economic growth and innovation for a sustainable future by capitalizing on Illinois’ strength in agricultural production.
“Our program is strategically positioned to lead the charge in transforming the bioeconomy,” said Beth Conerty, associate director of IBRL and Regional Innovation Officer for iFAB. “Through iFAB, Illinois is not just participating in biomanufacturing—we are helping shape the future of the industry.”
The project supports a wide range of applications in biomanufacturing, from novel ingredients to sustainable materials, addressing emerging market demand for sustainable products. iFAB’s integrated “lab-to-line” approach will catalyze economic development by positioning Central Illinois as a premier destination for biomanufacturing companies—moving bio-innovation from R&D to full-scale manufacturing.
The EDA is expected to announce its Phase 2 awardees during the summer of 2024.
Innovate Illinois, a, orchestrates a coordinated effort to harness federal funding opportunities provided by landmark legislation such as the Bipartisan Infrastructure Bill, the CHIPS and Science Act, and the Inflation Reduction Act. By capitalizing on these resources, Innovate Illinois is set to fast-track the state into an era of unprecedented technological and economic advancement.
Read the release here.