The mHub advanced manufacturing incubator would create a new $46 million headquarters on the Near West Side through Tax Increment Financing (TIF) assistance proposed to City Council today by Mayor Lori Lightfoot.

mHub would use up to $17.55 million in TIF for eligible renovation costs involving a 96-year-old, 79,000-square-foot building at 240 N. Ashland Ave., to which it would relocate from the Near North Side. The assistance would be provided through the Kinzie Industrial Corridor TIF district.

The proposed project is anticipated to retain 30 permanent jobs and create 200 temporary construction jobs.

Founded in 2016, mHUB is a nonprofit incubator that provides opportunities for start-ups and entrepreneurs in technology and manufacturing. The organization is seeking to relocate from its current Chicago Avenue location because it could not renew an expiring lease.

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