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 creating new jobs that pay at least 120% of the State Minimum Wage.
• 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.