UTICA, N.Y. — Oneida County and Mohawk Valley EDGE announced that they will administer a new micro-grant program to assist existing and startup micro companies.
A $200,000 grant from the New York State Office of Community Renewal is providing funding for the grant program. Oneida County and Mohawk Valley EDGE will oversee the program and assemble the review committee for each applicant.
“This program will provide new job opportunities and keep existing jobs for microbusinesses and ultimately broaden the tax base of Oneida County,” Oneida County Executive Anthony Picente, Jr. said in a release. “We look forward to partnering with EDGE to help these companies grow to their full potential.”
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Grants ranging from $5,000 to $35,000 will be available for businesses involved in sectors that include manufacturing, warehousing and distribution, agri-business, high-tech, research and development, and “traditional and innovative” small businesses. Businesses must employ five or fewer employees, including the business owner(s) and be located within Oneida County, but outside of the CDBG entitlement cities of Utica and Rome.
CDBG is short for community development block grant, a program of the U.S. Department of Housing and Urban Development.
“EDGE is committed to working with applicants, coordinating the review committee and monitoring the progress of each business receiving grant dollars,” Steven DiMeo, president of Mohawk Valley EDGE, said. “The availability of this program is critical as we look to restart the economy for small business enterprises.”
Eligibility guidelines
Projects must result in either the creation or retention of jobs which are available to low- to moderate-income persons as defined by guidelines from the state Office of Community Renewal.
If the project doesn’t involve any hiring of new or retention of existing employees, the owner “must meet” low- or moderate-income guidelines at the time of application to the program.
In addition, the applicant must present a “reasonable likelihood for long-term viability” based upon issues such as feasibility, marketability, management, competition, and capitalization, per Oneida County.
Recipients can use their grant dollars for capital assets, such as real estate, buildings, machinery and equipment, or for working capital.
Those interested in applying can take a qualification survey at www.mvedge.org or call Tim Fitzgerald at Mohawk Valley EDGE for more information at (315) 338-0393.
