To enhance business retention and expansion as well as entrepreneurship efforts in distressed areas by increasing the capacity of communities or community based organizations to perform economic development. Community-based organizations may apply for all grants except diversification plans. Applicants seeking incubator grants must have an authorized graduation policy.
Technology based incubators are eligible for business incubator grants.
Applicants seeking incubator grants may not receive more than two technical assistance, two start-up or expansion, five operations and two tenant revolving loan fund grants over the life of the program. Provides funding to enhance local economic development capabilities in distressed areas.