EDA Chicago FY 2016–FY 2019 Planning Program and Local Technical Assistance Program
Highlights
This program offers funding through grants to support your business and its growth. By tapping into these resources, you gain the opportunity to create tailored economic development plans that can help elevate your region's economy. With expert guidance, you'll make informed decisions that drive your business forward while also strengthening your local community.
One of the key advantages is there are no strict limits on revenue or employee count, making it accessible for businesses of all sizes. Whether you’re a small startup or a larger enterprise, you can benefit from valuable services like feasibility analyses and impact studies. Most importantly, these grants do not require immediate repayment, allowing you to invest in your business without the stress of debt hanging over you. The focus is on enhancing job creation and building your organization’s capacity to thrive, particularly in economically distressed areas.
By participating in this program, you can position your business for sustainable growth. This is not just about funding; it's about harnessing support that empowers you to create lasting change. With this opportunity, you'll join a network aimed at fostering economic prosperity and resilience.
Financing Details
Type of Financing
The financing offered through this program is grants. These funds do not require repayment. Think of it as free money that helps you achieve your economic development goals.
Eligible Expenses
Eligible expenses for this program include:
- Development and implementation of Comprehensive Economic Development Strategies (CEDS).
- Regional economic development plans.
- Feasibility analyses and impact studies.
- Activities that enhance economic growth and job creation.
Usage Limitations
The funds cannot be used for general operating expenses, personal expenses, or projects not directly tied to economic development activities.
Additionally, there are typically no fees associated with applying for or receiving these grants, simplifying the process even further.
Qualifications
- Location: Business must be located in designated Economic Development Districts, including areas in Chicago.
- Sectors: Open to all sectors.
- Employees: No minimum or maximum employee requirements.
- Company Revenue: No minimum or maximum revenue qualifications.
- Legal Structure: All legal structures are applicable.
- Profit Structure: All profit structures are applicable.
Description
This program offers funding through grants to support your business and its growth. You can tap into resources that assist in creating economic development plans. These plans can help formulate strategies that uplift your region’s economy. By securing grant money, you’re gaining the support to make informed decisions and drive your business forward, all while strengthening your local community.
With no strict limits on revenue or employee count, this program is designed to be inclusive of various businesses, regardless of size or sector. Whether you're a small startup or a larger company, you can benefit from the expertise provided through this initiative. This could include feasibility analyses or impact studies that will guide your growth and help you make informed investments.
Moreover, funding obtained through this program does not require immediate repayment. This means you can invest in your business without the stress of looming debt. These grants focus on enhancing job creation and supporting your organization’s capacity to thrive, which is especially beneficial if you’re in an economically distressed area. This opportunity can set you and your business on a path to sustainable development and job creation.
Program Steps
Visit the Program Website
Go to the official program website to gather necessary information and updates.Prepare Necessary Documentation
Collect all required documents to support your application. You will likely need:- Business plan
- Financial statements (e.g., profit & loss, balance sheet)
- Tax returns
- Legal business registration documents
- Documentation of your business’s impact on the local economy
Develop an Economic Development Plan
Outline how the funding will be used to strengthen your business and support local economic growth.Complete the Application Form
Fill out the application form thoroughly, making sure all information is accurate and complete.Submit the Application
Send your completed application and all required documents through the designated submission method outlined on the website.Monitor Your Application Status
Regularly check the status of your application and be ready to provide any additional information if requested.Prepare for Follow-Up
Be ready for any follow-up questions or meetings with program officials to discuss your application and plans.