(PRWEB) December 07, 2016
On December 1, 2016, The City of Frederick Mayor and Board of Aldermen approved the Grow Conditional Micro Grant program for Frederick businesses.
The program provides matching grant funds up to a maximum of $5,000 to assist small businesses as they start-up or grow in Frederick. Graduates of the Frederick Innovative Technology Center Inc. are eligible to receive up to $10,000. The initial amount of program funding is $30,000.
The Department of Economic Development will manage and oversee the program.
Businesses in the targeted industries of advanced technology, manufacturing, life sciences and information technology are eligible to apply. Additionally, catalytic projects can also be considered for funding under this program.
“Our goal is to lower the start-up or expansion costs that many small businesses face,” said Richard Griffin, director of Economic Development for Frederick. “This program is designed to provide assistance to companies in fields that traditionally provide family-supporting wages. As they grow, hire staff, and train employees, the entire community benefits.”
To qualify for the Grow Conditional Micro Grant program, businesses must be located within The City of Frederick, have fewer than 25 full-time employees, and be in one of the targeted industry categories or qualify as a catalytic project. Eligible expenses for funding include improvements to the property where the business is located or workforce training for employees.
Grants are competitive and will be awarded based on a scoring system on a first-come, first-served basis. Interested applicants should review the Grow Conditional Micro Grant program overview and application. These forms and additional information can be found online at bit.ly/growfrederick (case sensitive) or businessinfrederick.com.
Questions should be directed to (301) 600-6360.