MINORITY-OWNED BUSINESS MATCHING GRANTS CONTINUE IN 2008

County Executive Bill McReynolds today announced the availability of grants of up to $2,500 for small and medium-sized minority-owned businesses in Racine County.  For the third consecutive year, Racine County is making these grants available to eligible minority-owned for-profit businesses.  (Non-profits are not eligible.)


The program is designed to help minority-owned businesses prosper and grow, so that they can continue to provide jobs in Racine County for minority entrepreneurs and their employees.  The grants will provide qualifying businesses with up to $2,500 to help cover costs associated with improving their business operations.  Examples of things that can be paid for with the grants are: staff training, business consulting services, marketing plans, and business systems upgrades.  Normally, equipment will not be eligible for grants, although computer systems may be approved on a case by case basis.


Grants will be made to for-profit businesses that meet all of these criteria:



  • At least 51% minority owned

  • Based in Racine County

  • Have no more than 200 employees

  • Have average annual sales of no more than $5 million.

These are 50% matching grants.  This means they will reimburse a business for 50% of allowable expenses, up to a maximum of $2,500.  For example, a business with $4,000 in allowable expenses will receive $2,000; a business with $5,000 in allowable expenses will receive $2,500; and a business with $6,000 in allowable expenses will receive $2,500.


McReynolds said: “Racine County wants to be part of the solution in advancing the economic growth of small to medium-size minority entrepreneurial businesses.  This matching grant program is one example of Racine County’s commitment to addressing the concerns of the small to medium minority entrepreneur.” 


The grant program is managed on behalf of Racine County by the UW Parkside Small Business Development Center (SBDC).   Minority-owned businesses based in Racine County that are interested in receiving grant funds for authorized purposes should contact Deneine Powell, Director of the SBDC, for more information and for a grant application.


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Ms. Powell can be contacted at:


 


Deneine Powell


UW Parkside Small Business Development Center


2320 Renaissance Blvd.


Sturtevant, WI 53177


Phone: 262.898.7414


Fax: 262.898.7401


[email protected]