From the County Executive's Office:
Broome County Executive Debbie Preston today announced a $200,000 Grant Award available to new and existing small businesses in Broome County. The Grant money awarded to Broome County comes from the New York State Housing Trust Fund Corporation and New York State Home & Community Renewal.
“As we work with local investors to start new businesses and existing small businesses to expand in Broome County, we will explore all avenues for funding opportunities,” said Broome County Executive Debbie Preston. “Small businesses are the backbone of the economy; two out of every three new jobs in America are created by small businesses. As we work to grow our economy and rebuild Broome County, we must do everything possible to assist businesses and entrepreneurs reach new heights.”
The Broome County Microenterprise Program will award Grants ranging from $5,000 to $35,000 to businesses that meet eligibility requirements. Federal regulations exclude businesses in the City of Binghamton and Town of Union, as they already receive Community Development Block Grant Funding.
“This is a prime opportunity for business startups and existing small business owners to develop in Broome County,” said Broome County Economic Development Commissioner Elaine Miller. “Our Economic Development Department is committed to helping businesses grow from their concept stage to rewarding and profitable enterprises.”
These Grants will allow businesses to provide new job opportunities for low- and moderate-income persons and broaden the overall tax base within the County.
Any business that submits a Grant application will be required to contribute a minimum 10% owner equity into the project. Where there is no other public or private financing, owner equity should match the grant on a 1:1 basis.
A minimum of 50% of Broome County’s Award will be awarded to start-up businesses.
For more information, or to apply for the Broome County Microenterprise Program call the Economic Development Department at (607) 778-2114.