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Goochland EDA adopts small-business expansion fund, narrows eligibility to firms with 100 or fewer employees and approves tourism signage grants
Summary
The Goochland County Economic Development Authority approved a Small Business Expansion Fund ($50,000 allocated) that will award up to 5% of an eligible business's investment (capped at $20,000) and amended eligibility to firms with 100 or fewer employees. The board also approved a tourism 'logo' signage grant open to tourism businesses, agribusinesses and qualifying nonprofits.
The Goochland County Economic Development Authority voted to adopt a Small Business Expansion Fund and a tourism "logo" signage grant, approving program guidelines and narrowing the small-business eligibility threshold to companies of 100 employees or fewer.
Director said the EDA had created an application and draft guidelines and that the board had allocated $50,000 specifically for the small-business incentive program. "Businesses would be eligible to receive up to 5% of their investment, but no more than $20,000," the Director said, adding that staff would screen applications for ROI before sending finalists to the EDA for a vote.
The Chair moved to adopt the…
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