Over the past few years, communities around the country have used grants to help small businesses recover. But grants can also spur new innovations that state and local governments want to promote. Such is the case for two new grant programs launched this week. See a full list of new opportunities below.
Maine Pandemic Recovery for an Innovative Maine Economy Fund
Maine recently unveiled a $5 million grant program for small businesses. Part of the Maine Jobs & Recovery Plan, this is the second round of grants from the Pandemic Recovery for an Innovative Maine Economy (PRIME) Fund. The Maine Technology Institute administers the program, which focuses on Maine’s targeted technology sectors like biotechnology, marine industries, and precision manufacturing. November 15 is the deadline to apply for this round.
New Jersey Manufacturing Voucher Program
New Jersey just launched a new pilot program to help manufacturers purchase new equipment. The New Jersey Economic Development Authority will administer the program, known as the New Jersey Manufacturing Voucher Program, which includes $20 million in funds from the FY2023 budget. To qualify, manufacturers should fit within targeted industries and use the funds to purchase materials that can improve their manufacturing processes. MVP grants may cover between 30 to 50 percent of the cost of eligible equipment, including installation. The maximum award amount will be $250,000.
Lynchburg Launch LYH
The Downtown Lynchburg Association in Virginia is supporting new storefront businesses in the area through an upcoming grant program. The Launch LYH program includes $115,000 in funding, with the goal of filling vacant storefronts and helping small businesses start or expand in Downtown Lynchburg. The program will officially start in early 2023. At that point, full program guidelines and applications will be available on the Downtown Lynchburg Association’s website.
New London/WBDC Small Business Grant Program
The Women’s Business Development Council in New London, Connecticut is offering grants of between $2,500 and $10,000 to local businesses. To qualify, New London businesses must be at least two years old and have between $25,000 and $2 million in revenue over the past year. Funded through the city’s allocation of American Rescue Plan Act funds, the program is open to both male and female founded businesses. The first application period is open now through December 1. At that point, the organization will re-evaluate and may continue accepting applications until all funds have been awarded.
Arcadia ARPA Small Business Grant Program
Arcadia, California is allocating $1 million in American Rescue Plan Act funds to two small business grant programs. The first is the business grant program, which will receive $750,000. And the second is the permit assistance program, which will get $250,000. The ARPA Small Business Grant Program offers up to $10,000 per business, which can be used for various physical improvements and marketing. The application period runs from October 24 to December 29. The ARPA Small Business Permit Assistance Program can offset City planning and building fees for businesses, with up to $5,000 available per company. The application period for this program opens November 15 and will run until funds are depleted.
Concord Pandemic Recovery Grants
Concord, California and the Greater Concord Chamber of Commerce are launching a $2 million pandemic recovery grant program. Funding comes from the city’s remaining $19 million allocation from the federal American Rescue Plan Act. This program will consist of $5,000 grants awarded to 370 small businesses. Funding will be dispersed in two rounds. The first will run from November 7 to November 18, and the second will run in spring 2023.
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This article, "New Small Business Grants Available for Manufacturing and Tech Companies" was first published on Small Business Trends
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Annie Pilon, Khareem Sudlow
