The City of Gary Awards Grants to Local Small Businesses
Introduction
The City of Gary, Indiana, has taken a proactive approach to support its local small businesses. Utilizing funds from the American Rescue Plan Act (ARPA), the city has awarded nearly 100 grants to assist these enterprises. This article highlights the key details of the grant program, the selection process, and the positive impact it will have on the city’s economy.
Grant Program Details
Through the ARPA funds, the City of Gary has allocated grants ranging from $5,000 to $60,000 to local small businesses. This financial support aims to stimulate economic growth while addressing the challenges faced by these enterprises due to the COVID-19 pandemic. A total of 91 Gary-based small businesses have been selected as recipients, paving the way for their continued success.
The Selection Process
A seven-member review committee, consisting of city officials, business leaders, and higher education representatives, played a crucial role in selecting the grant winners. With the aim of encouraging building upgrades, renovations, and overall economic stimulation within the city, the committee faced the challenging task of choosing from a multitude of deserving local businesses. Gary Mayor Jerome Prince emphasized the difficulty of the selection process, showcasing the city’s commitment to supporting all businesses, regardless of size.
Positive Impact on the City’s Economy
The grants awarded by the City of Gary will not only provide immediate financial relief to the recipient businesses, but they will also contribute to the overall growth and revitalization of the city’s economy. By empowering small businesses to enhance their infrastructure and operations, the grants will spur job creation, attract further investments, and promote entrepreneurship within the community. In turn, this will result in a more vibrant and prosperous Gary.
Utilizing ARPA Funds for Economic Recovery
The City of Gary received over $80 million from the American Rescue Plan Act (ARPA), specifically designated to alleviate the economic impact of the COVID-19 pandemic. The funds have been instrumental in financing various initiatives aimed at restoring the city’s economic well-being. Alongside the small business grants, the city has utilized the ARPA funds for projects such as a mobile mental health unit, a new YMCA and wellness facility, and a down payment assistance program for potential homebuyers. This comprehensive approach demonstrates the city’s commitment to addressing diverse community needs and fostering a sustainable recovery.
Opportunities for Startups
In addition to supporting existing businesses, the City of Gary is actively encouraging startups to apply for ARPA grants. The city has identified 140 potential startups that may be eligible for funding. Recognizing the importance of equipping entrepreneurs with the necessary knowledge and skills, the city has partnered with Indiana Northwest University to offer a business course requirement for potential grant recipients. This initiative further underscores the city’s commitment to nurturing a thriving entrepreneurial ecosystem in Gary.
Conclusion
The City of Gary’s grant program, funded through the American Rescue Plan Act (ARPA), exemplifies the city’s determination to support its local small businesses. By providing financial assistance and resources to these enterprises, the city is laying the groundwork for a resilient and robust economy. The positive impact of these grants will extend far beyond the immediate recipients, fostering job creation, attracting investments, and promoting entrepreneurship throughout the community. The City of Gary is setting a powerful example of how municipalities can contribute to an inclusive and sustainable economic recovery.
Summary
The City of Gary has awarded nearly 100 grants to local small businesses from the American Rescue Plan Act (ARPA) funds. In a press release, Gary Mayor Jerome Prince announced that 91 Gary-based small businesses were selected to receive grants ranging from $5,000 to $60,000. A seven-member review committee comprising city officials, business leaders, and higher education representatives was responsible for the selection process. The grants aim to stimulate economic growth, encourage building improvements, and support the city’s businesses amidst the challenging post-pandemic recovery. The City of Gary received just over $80 million from ARPA and has also utilized the funds for various other initiatives, including a mobile mental health unit, a new YMCA and wellness facility, and a down payment assistance program for potential homebuyers. Startups in Gary are also encouraged to apply for grants, with Indiana Northwest University offering a business course to eligible applicants. The grants are expected to have a positive impact on the local economy, fostering job creation, attracting investments, and nurturing entrepreneurship within the community.
—————————————————-
| Article | Link |
|---|---|
| UK Artful Impressions | Premiere Etsy Store |
| Sponsored Content | View |
| 90’s Rock Band Review | View |
| Ted Lasso’s MacBook Guide | View |
| Nature’s Secret to More Energy | View |
| Ancient Recipe for Weight Loss | View |
| MacBook Air i3 vs i5 | View |
| You Need a VPN in 2023 – Liberty Shield | View |
The City of Gary has awarded nearly 100 grants to local small businesses from the city’s American Rescue Plan Act (ARPA) funds.
In a press release on Wednesday, Gary Mayor Jerome Prince announced that 91 Gary-based small businesses have been selected to receive small business grants of between $5,000 and $60,000. Winners were selected by a seven-member review committee comprised of city officials, business leaders, and higher education representatives.
“The City of Gary supports all businesses, which made the selection process very difficult,” Prince said. “The Committee, with its selections, sought to both encourage building upgrades and renovations as well as stimulate our city’s economy on a small scale. I am hopeful that there will be another round of funding in the future.”
Gary received just over $80 million from ARPA, which was passed by Congress in 2021 to help repair the economic damage caused by the COVID-19 pandemic. The city has drawn on that fund to finance a mobile mental health unitto new YMCA and wellness facilityand a down payment assistance program for potential homebuyers. In March, the Gary Common Council voted to allocate $2 million in ARPA funds for small business grants, plus another $800,000 for local nonprofits.
Gary residents looking to start new businesses are also encouraged to apply for ARPA grants, according to the news release. According to the city, 140 start-ups are potentially eligible for funding. Potential recipients will need to apply and complete a business course offered by Indiana Northwest University.
—————————————————-