Highland County EDA Grants Up for Grabs

Are you a budding entrepreneur or an existing business owner who is seeking to expand your customer base?

If so, you might consider applying for financial support from the Highland Economic Authority Grant Incentive Program.

Funded through the EDA and the Town of Monterey, the program offers the assistance to encourage the growth and success of small business in Highland County. The goals of the EDA are to support entrepreneurship and create new job opportunities for local residents, all while growing the local tax base.

EDA Treasurer Betty Mitchell says this is the first time ever that the grants are offered in the spring. Grants usually are offered in the fall. But because so few people applied last year, EDA officials decided to hold a spring grant offering.

Since 2017, the EDA has been awarding grants for business start-ups or expansion. During that time, Mitchell says, about $90,000 has been awarded to applicants.

Grants are funded by the EDA, which received $20,000 from the county government. The Town of Monterey provided an additional $5,000 for the grant program, Mitchell adds.

Grants will range from $2,000 to $5,000 and can be used to assist business start-ups or expansions in Highland County.

Funds can be used to purchase supplies or equipment for a business expansion, lease security deposits for commercial locations and down payments on the purchase of a commercial space. In addition, financial assistance also can be used for minor repairs or renovations of a business space, utility connection fees, advertising and marketing expenses and some job training.

The grants do not cover normal operating expenses such as buying inventory, rent, utilities, payroll or taxes.

Awardees must also complete their projects within 9 months of the grant approval.

Funds will be awarded to chosen applicants as reimbursements for satisfactory completion of a project or in the form of a direct payment to a vendor after an invoice is presented for a specific item.

Program information and grant applications can be downloaded from the Highland County Chamber of Commerce at www.highlandcounty.org, or requested by email at highlandeda@htcnet.org. Printed copies are available at the Highland County Public Library or the Highland County Board of supervisors’ Office in the courthouse.

Completed applications must be received by 4:30 p.m. on May 16. Hand deliveries will be accepted at the Highland County Board of Supervisors’ Office in the Courthouse. The applications can also be emailed to highlandeda@htcnet.org or mailed to Highland EDA, POBox 68, Monterey, Va. 24465.

 

This is Mike Folks for Allegheny Mountain Radio.