Alton Wedge Innovation Center*

Alton, IL

AltonWorks is a social impact redevelopment company focused on the revitalization of Historic Downtown Alton, IL – a classic “river city” just north of St. Louis. AltonWorks’ goal is to recreate Alton as a healthy, thriving, walkable city and a regional hub for reinvention and resiliency in the Metro North.

A cornerstone to this plan was to develop the Wedge Innovation Center (The Wedge), a an accelerator, incubator, coworking space, and digital hub focused on Social Impact Innovation specializing in the areas of Clean Tech, Geospatial Sciences, Food and Ag-Tech, and Climate Tech to benefit everyday lives. The Hub is in a very visible, historic former bank building (known as the “Wedge Bank”) in the center of downtown. The historic bank space on the ground floor are being converted to a restaurant with retail on the other ground floor spaces. The upper floors are slated to be commercial offices and co-working space. AltonWorks has created a collaborative partnership with Southern Illinois University in Edwardsville (SIU-E) to operate the co-working space and run the incubator and accelerator program.

The project will create 145 FTE entrepreneur positions, including 50 incubator members, 50 members for the coworking space, and 45 accelerator members. Over 7 years, the incubator and accelerator will serve 665 entrepreneurs. The project also intends to employ 64 FTE professionals in the space. Alton Innovation Center will also house a restaurant, café, salon, and retail shop, all of which create 40 FTEs.

This institution is an equal opportunity provider.

Quick Facts 

Square Footage: 60,398

Total Investment: $19,000,000

Developer: CCM for Altonworks

Owner: AltonWorks

Allocatees: MBS Urban Initiatives CDE, Heartland Regional Investment Fund

NMTC Equity Investor: US Bank

Architect: KO and Company, Inc.

Direct Lender and Leverage Lender: WIC Leverage, LLC

Projected Construction Jobs: 106 FTEs

Projected Permanent Jobs: 275 FTEs

Community Partners: SUI-E