Program Information (Bottom)

Infrastructure Funding

• Used in the traditional sense of infrastructure, such as broadband connectivity, road access improvement, utility connections, property purchases, building/housing construction, and improvements, etc.
• Must lead to creating new jobs that pay at least 120% of the State Minimum Wage.
• Requires at least a minimum 20% match of total project costs from local government, the business itself, or another source to be reviewed and approved by the Board. Higher matches will be given preference.
• The Board may increase the minimum match requirement from local government, the business itself, or other sources to preserve fund capital and allow funding of more projects.

Business Development Funding

• Must lead to creation or retention of at least 10 new jobs that pay at least 120% of the State Minimum Wage, or create or retain 25 total jobs, or result in significant population growth as certified by the county commissioners or municipal government for the municipality in which the project is located.
• Requires at least a minimum 10% match of total project costs from local government, the business itself, or another source to be reviewed and approved by the Board. Higher matches will be given preference.
• Assistance may be offered in the form of a grant or a loan, depending on available funding and the characteristics of the project.
• The Board may increase the minimum match requirement from local government, the business itself, or other sources to preserve fund capital and allow funding of more projects.