Board approves $30,000 for joint EDA small-business incentive grant program
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Summary
The county approved a $30,000 appropriation to match Economic Development Authority grants for small businesses; the EDA reported 27 FY25 awards totaling $57,000 with $2.2 million in private investment.
Miss Spring, speaking for the Gloucester County Economic Development Authority (EDA), asked the board for a $30,000 appropriation to continue a joint Small Business Incentive Grant Program. She said the EDA began the program July 1, 2016, and that in FY25 the authority awarded 27 grants totaling $57,000 and reported private investment of about $2,200,000 tied to those awards. She said the beginning balance for the program on July 1, 2024 was $66,600 and the uncommitted balance as of Jan. 10 was $9,561.
"The EDA respectfully request an appropriation of $30,000 with a $30,000 grant, match from the EDA board," Miss Spring told the supervisors and invited questions about the funding source; a board member asked whether the appropriation would come from the general fund or the unassigned fund balance and staff answered it would be from the unassigned fund balance.
Board members also asked whether the EDA coordinated with Main Street Association grants; Spring said the EDA has partnered with Main Street in the past and can match Main Street awards to leverage additional investment.
A resolution appearing on page 62 of the agenda was moved and seconded (mover and seconder not specified in the transcript excerpt). The clerk recorded affirmative votes and the chair declared the motion carried. No amendment or conditions to the appropriation were recorded in the meeting excerpt.
Ending: The board approved the $30,000 appropriation; staff will process the necessary budget transfer and the EDA will continue to award matching grants under the Small Business Incentive Grant Program.
