The Pleasant Prairie Community Development Authority announced that it has received a $3.5 million grant from the U.S. Economic Development Administration for the CDA’s biomedical business incubator project.
Called the Southeast Wisconsin Innovation Center, it will be a 40,352-square-foot building located west of 39th Avenue between Springbrook Road and Highway 165.
The project is a regional initiative to spur innovation and growth of new biomedical companies.
“Once the businesses establish themselves, they would move to larger locations or facilities within the regional community,” said village president John Steinbrink. “The concept should not only provide additional jobs, but should help provide area business parks with potential high-quality occupants over coming years.”
The village has also received a $70,000 state grant for the project and the CDA and the Kenosha Area Business Alliance (KABA) have each pledged $2 million toward the project. The village funds will come from a tax incremental financing (TIF) district, village officials said.