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Committee reviews Economic Development Fund; defers MOVE program policy changes and urges SBIR reauthorization
Summary
Staff presented a FY27 EDF recommendation totaling $4,170,000; members discussed a MOVE program backlog and five pending SBIR matching applications after the SBIR local matching program lapsed, and agreed to accept the executive recommendation while scheduling a fall work session on MOVE policy and urging SBIR reauthorization.
County staff summarized the Economic Development Fund for FY27, reporting a $4,170,000 total and noting program‑level balances across the MOVE program, biotech investor incentives, SBIR/STTR local matching grants, microlending, and the Jobs Initiative.
Staff told the committee the MOVE program had received a $500,000 supplemental in November and currently has no remaining unencumbered funds; they described MOVE as a high‑volume program with a low barrier to entry and a resulting backlog of approved awards. The Jobs Initiative, staff said, is a one‑time $20,000,000 appropriation and will continue to process applications over a multi‑year…
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