UTICA, N.Y. — Oneida County has announced two new grant programs that could help area small businesses and startups. The county says $200,000 in microenterprise grants and $750,000 in Cares Act grants are available through Mohawk Valley EDGE. “These two programs will provide a huge benefit to the county’s business sector,” Oneida County Executive Anthony […]
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UTICA, N.Y. — Oneida County has announced two new grant programs that could help area small businesses and startups.
The county says $200,000 in microenterprise grants and $750,000 in Cares Act grants are available through Mohawk Valley EDGE.
“These two programs will provide a huge benefit to the county’s business sector,” Oneida County Executive Anthony Picente, Jr. announced Sept. 24. “I look forward to partnering with EDGE to assist those who are looking to strengthen, expand or create new businesses and owners recovering from the ravages of the COVID-19 pandemic. We must employ everything at our disposal to solidify our local economy.”
Interested applicants for either program must first complete an online qualification survey located on the EDGE website at www.mvedge.org. Qualified applicants will then receive their full application from EDGE.
Applications will be reviewed/funded on a first-come, first-served basis until all funds are used.
Further information and questions can be answered by calling Tim Fitzgerald at Mohawk Valley EDGE at (315) 338-0393 or visiting the EDGE website at www.mvedge.org.
Microenterprise grants
Using a grant secured from the New York State Department of Homes and Community Renewal, Oneida County will have EDGE deliver the microenterprise-grant program to help existing small businesses or startup companies provide new job opportunities, keep existing jobs, and “ultimately broaden the tax base of Oneida County,” Picente’s office said.
Microenterprise 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 at time of application, including the business owner(s), and be located within Oneida County, but outside of the Community Development Block Grant (CDBG) Entitlement Program cities of Utica and Rome.
Cares Act grants
EDGE will also oversee a $750,000 CARES Act COVID-19 small-business grant program. It’s designed to provide substantive reimbursement for eligible 2020-2021 COVID-related operating costs, as well as provide gap financing for future COVID-related recovery and resiliency projects.
Any resiliency project must result in the retention and/or creation of low- and moderate-income jobs.
Funding for this program is through a grant to Oneida County from the New York State Department of Homes and Community Renewal. These funds may be combined with traditional commercial financing as well as other economic-development loan, grant or lease programs administered by EDGE, but must be completed within one year. Businesses must employ 25 or fewer full-time equivalent employees for this grant and be located within Oneida County, but outside of Utica and Rome.
Recipients can use grant dollars for capital assets such as real estate, buildings, machinery and equipment, or working capital.
“EDGE is committed to helping businesses in our community recover from the COVID-19 pandemic,” Steven DiMeo, president of Mohawk Valley EDGE, said. “We will be working with applicants, coordinating the review committee and monitoring the progress of each business receiving grant dollars to maximize the impact of these investments.”