New York state approves funding for microenterprise grant program
The Niagara County Industrial Development Agency on Wednesday announced its Consolidated Funding Application for the Microenterprise Grant Program has been approved by New York, with $200,000 in funds being made available. The program will provide resources to support and foster the development of local microbusinesses.
Economic Development Chairman Rich Andres of North Tonawanda said, “We recognize that nearly half of the U.S. economy is driven by small business, which is why it’s so important that we continue to support small business growth here in Niagara County.”
Niagara County Center for Economic Development has created a microenterprise grant fund that will issue funding to start-ups and small businesses. The county has partnered with the Small Business Development Center to provide free training that will cover various topics such as legal issues, taxes, recordkeeping, accounting, financing, marketing and advertising, and employee issues.
Legislator Jesse Gooch said, “I know firsthand how difficult it is to start a small business, and I’m pleased that we’re able to bring additional resources to Niagara County that will assist new entrepreneurs.”
The newly created microenterprise grant fund will assist businesses located, or planning to locate in Niagara County. Businesses must have five or fewer employees and create one full-time-equivalent job within 24 months in order to be eligible.
NCIDA Board Chairman Mark Onesi said, “The NCIDA is proud to bring another resource to our economic development toolkit, as it furthers our mission to promote business growth and job creation.”
For more information, call the Center for Economic Development at 716-278-8750.