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EDA reports uptick in small-business grants; approves community allocations
Summary
EDA staff reported 23 business grant applications since July with 20 funded; the board also approved quarterly community grants including $1,200 to the Dream Center’s Blacktop Basketball Youth Program and amended the agenda to add allocations.
The Portsmouth Economic Development Authority heard a quarterly update on its business investment and acceleration grants and approved a pair of community allocations during its Feb. 18 meeting.
Autumn Bailey, the EDA staff member who oversees business development grants, told commissioners the EDA received 23 applications since July and has approved and funded 20 of those grants to date. Bailey said a significant share of awardees were small, women- and minority-owned businesses: “We had seven woman-owned, Black businesses that all received the business development grant,” she said. Bailey also reported that of the 23 applicants, 16 were women-owned, two were veteran-owned and 18 were minority-owned.
Bailey updated the board on the Focus Acceleration grant program: she said the EDA received 10 applications to date, with one grant approved in the prior period for roughly $4,000–$5,000 and that reimbursements are pending as recipients submit receipts.
On the real property investment grant, staff said the EDA shifted $50,000 into the program after the last round and currently has four applications under review; two applicants are seeking near the program maximum and two smaller requests are roughly $5,000 and $6,000. Staff estimated the current round will be nearly fully allocated (approximately $49,600 expected to be used), with any marginal shortfall handled in the next round.
At the end of the meeting, the EDA amended the agenda to add consideration of quarterly community grant allocations and approved two awards. The board approved $15,000 to Support Portsmouth Public Art for the Wall Street Mural Festival (see separate article) and approved $1,200 to the Dream Center for the Blacktop Basketball Youth Program. Both allocations passed by roll call vote, 6–0.
Bailey said staff plans annual follow-ups to check whether grant recipients remain in business; she also agreed to add intake-survey questions to the application process to better track outreach effectiveness and how applicants learned about the program.
The EDA did not specify all application details for pending real-property requests in open session; staff said some applicants are still providing final quotes before the board’s review.
