In the interest of creating or retaining jobs, generating increased economic activity and improving the social and economic livability of communities within its boundaries, Yamhill County will continue a program in May that has $125,000 in available grants.
The Economic Competitive Grant program features seven grants ranging from $10,000 to $50,000 that are available via a competitive process for a limited time, a release from the county said. The program consists of five $10,000 small business grants, one $25,000 start-up grant and one $50,000 strategic investment grant.
Start-up grants are for small businesses that have been in business from one to two years, in the traded sector and have not received a grant from Yamhill County in the past. Small grants are for small businesses with less than 25 employees and have been operational for more than two years (applicants may request less than the $10,000 grant limit if they choose). The strategic investment grant is for a business with more than 25 employees that has been in business for more than two years.
Applicants are required to only apply for one type of grant and must do so by the May 15 deadline via the county’s grant submission portal at webportalapp.com/sp/yc_comp_grant_2024 . To qualify, applicants must either be a business in good standing, a nonprofit organization, an educational institution or a local government agency. Successful recipients are also required to report on two occasions to the county’s economic development department on the disposition and use of the funds.
Although not required to receive a grant, applicants are “encouraged,” the release said, to match with cash, volunteer time and/or in-kind donations to the grant fund.
The projects partially funded by the grants must be completed within 12 months of the funding start date, must be within the county and “have economic development significance, including, but not limited to job creation and retention; business retention, relocation or expansion; increased private investment; advancing innovation; enhancing manufacturing capacities; providing work force development opportunities,” the release said.
The county began offering the grant program to small businesses using lottery funds from the state but has continued thanks to pandemic programs such as the American Rescue Plan Act and Community Aid, Relief and Economic Security Act.
For more information, visit yamhillcounty.gov/494/Grant-Information or email Gioia Goodrum at goodrumg@yamhillcounty.gov.
Most Popular
Comments / 0