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Tax increment financing District 22 has helped fund the Janesville Innovation Center since it was created in January 2013. The city has poured an estimated $1 million into the center, about $200,000 of which has been for operations, said Gale Price, city economic development director and Innovation Center board member.
As the result of a grant received by the Janesville Innovation Center (JIC) from the George Parker Foundation, the JIC has established a Tenant Loan Fund. The purpose of the JIC Tenant Loan Fund is to provide working capital to JIC tenants for projects and investments that accelerate revenue growth, increase profitability and/or enhance the ability to secure additional capital. Loan amounts will range from $250 – $750 per project, with corresponding terms that are event or milestone based.