The Oneida County Program Income Grant program is designed to utilize the county’s program income funds from the New York State Office of Community Renewal (NYSOCR).
Recipients can use those funds to “enhance flexibility and affordability and [help] new and existing county businesses provide new job opportunities and retain existing jobs,” per a Wednesday news release.
“This $350,000 could be a huge benefit to eligible county businesses,” Oneida County Executive Anthony J. Picente Jr. said. “As the funding will be awarded on a first-come, first-served basis, I encourage members of our business community to take advantage of this opportunity and apply before it is no longer available.”
Oneida County offers assistance as a grant to eligible businesses through Mohawk Valley EDGE. The program may encompass projects within microenterprise, small business, and economic-development frameworks as defined by the NYSOCR Community Development Block Grant guidelines.
The program has so far awarded Paris Compression Molding, LLC, of Waterville $35,000 and provided Riverhawk Company of New Hartford $90,000 to assist with machinery and equipment purchases and business expansion.
“Capital in smaller dollar amounts is often difficult to access for our small business community,” Steven DiMeo, president of Mohawk Valley EDGE, said in the release. “This partnership with Oneida County helps startup and existing companies provide new jobs opportunities, keep existing jobs and, ultimately, broaden the tax base of Oneida County.”
Eligibility and applying
In order to qualify for the Oneida County Program Income Grant program, businesses must be involved in manufacturing, warehousing and distribution, agri-business, high technology, research and development and traditional and innovative small business sectors.
They also must fall into the business categories of microenterprise (5 employees or less, including the owner(s)); small business (6 to 25 employees); or economic development (greater than 25 employees).
Companies must also be located within Oneida County, but outside of the Community Development Block Grant (CDBG) entitlement cities of Utica and Rome.
They must also create jobs which are available to, or held by, low- and moderate-income persons as defined by NYSOCR and CDBG guidelines. In the case of a microenterprise, if the owner of the applicant business is to be considered as a new job, he/she must meet low- or moderate-income CDBG guidelines at the time of application to the program.
Recipients can use grant funding for the purchase of capital assets such as production machinery and equipment, furniture, fixtures and working capital uses.
For more details on the program and to apply for funding, click here. The grant application deadline is Jan. 31, 2019.
Contact Reinhardt at ereinhardt@cnybj.com