Community Development Block Grant Economic Development Program

The Community Development Block Grant Economic Development Program provides financial assistance to local governments for the benefit of private businesses that create or retain jobs primarily for low-to-moderate income workers. The program is available on a rolling basis as need arises, and awards will range from $300,000 to $1,000,000. Eligible applicants must be units of general local government, and the project must meet the jobs/$ ratio goal of $10,000 in funds for each retained employee and $25,000 for each created employee. Some key activities that can be funded include acquisition of land or building, purchase or installation of fixtures and equipment, construction, reconstruction, installation or rehabilitation of commercial or industrial buildings, and working capital expenses. • The program is designed to assist communities in attracting or expanding private businesses. • The program provides financial assistance in the form of a grant to the local government for the benefit of private businesses. • The program is available on a rolling basis as need arises. • Awards will range from $300,000 to $1,000,000. • Eligible applicants must be units of general local government. • The project must meet the jobs/$ ratio goal of $10,000 in funds for each retained employee and $25,000 for each created employee.