Economic Development Director Chris Xeil Lyons said these proposed “Growth, Expansion, Transformation” (GET) micro-grants would reimburse small businesses for up to $6,000 in costs that are pre-approved by council.
The city has budgeted $50,000 for the program for 2021.
Lyons said these micro-grants could possibly be used for building improvements such as developing upper floor apartments over retail/business spaces in the downtown district, something city officials would like to promote for encouraging people to live downtown.
Another possible use could be for a lease reimbursement. If a business leases a space for two years at market rate, it could be eligible for a reimbursement of up to $500 a month up to $6,000.
She said the projects would have to be completed within a year after the grant is approved.
Lyons said details are still under development and applications are being prepared before they are available on the city’s and the department websites. She said the proposed program is also being reviewed by the city law department before it is presented to council for final approval.
These would also be in addition to other small business micro-grants as well as the traditional incentives through Enterprise Zone or Community Reinvestment Area tax abatements, Job Creation Incentive Grants, and small business grants.
Lyons said more information will be available when the proposed program is finalized and when applications will be available on the city’s website and on the economic development website, ChooseMiddletownOH.org as well as on its other social media platforms.
In 2020, through the use of city and CARES Act funding, the Middletown Economic Development Department awarded 61 grants to 47 small businesses which totaled $515,108 in total grant award funding. The average grant amount was $8,444, according to Lyons.
She said grants were awarded to women-owned and minority businesses as well as other underserved populations, Lyons said the grants supported the local automotive, hospitality, retail, food services, manufacturing and personal services industries.
About the Author
