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Economic Development Fund activity: MOVE oversubscription, grant & loan awards disbursed and SBIR matches
Summary
Finance and executive staff reported the Economic Development Fund has been active in FY25: about $2.87 million had been dispersed to date across several EDF programs, the MOVE program activity increased and the SBIR/STTR local match program disbursed roughly $140,000 to seven businesses.
Department of Finance and county executive staff briefed the committee on FY25 activity in the county’s Economic Development Fund (EDF), detailing awards, encumbrances and program demand.
Staff said roughly $2,870,000 has been dispersed from the EDF to date in FY25 across multiple programs. Encumbrances for MOVE and other programs were reported: the MOVE program had approximately $1,500,000 in dispersed and encumbered awards (a notably faster pace than prior years) and there were encumbrances of roughly $845,000 for MOVE agreements and about $286,000 for Purple Line small‑business grants noted…
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