Advisory Finance Committee recommends $38,263 transfer to replenish Westborough small-business grant fund

The Advisory Finance Committee on Feb. 13 recommended that Town Meeting approve a $38,263 transfer from free cash to replenish the town’s Small Business Grant Program, approving the motion by roll call after a presentation from economic development staff.

Fred Linairo, the town’s Community Development Director, told the committee the town budgets $60,000 annually for the program and that typical awards are up to $5,000 per applicant, with match exceptions in some cases. Linairo said the EDC awarded roughly $99,000 in the last three years and that grant recipients reported creating “four full‑time and about 20 part‑time employees,” according to the presentation. Linairo also presented several estimates of employer investment tied to past grants, which the slide deck summarized as several hundred thousand dollars in salary and other project investment.

Committee members pressed staff for clearer, multi‑year outcome data: one member asked whether the town tracks which recipients remained in Westborough after two to five years and whether the program increases tax receipts or attracts new businesses. Linairo said the EDC has tracked recipients and that only two or three grantees left town shortly after receiving support, but that staff do not have comprehensive multi‑year retention or tax‑revenue figures on hand and offered to compile follow‑up analysis for the committee.

After the presentation and questions, Member McMahon moved to recommend that Town Meeting transfer $38,263 from free cash to fund the Small Business Grant Program; Member Bradley seconded the motion. The committee conducted a roll‑call vote and reported the recommendation carried by a unanimous committee vote.

The committee also asked that the EDC circulate the presentation slides and the business‑impact figures to the AFC for the record and follow up with a more consistent ROI tracking proposal for future budget cycles.