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Annapolis economic update: Inclusive Ventures program distributed $75,000 to 15 local businesses
Summary
Miss Stewart told the Economic Matters Committee the Inclusive Ventures program — funded by a $75,000 county grant — provided $5,000 working‑capital awards to 15 Annapolis businesses; the program’s five‑year anniversary is in June and the grant was not funded for the current year.
Miss Stewart presented a short economic update to the Economic Matters Committee on May 6, reporting the final Inclusive Ventures program report.
She said Anne Arundel County provided a $75,000 grant that enabled the Inclusive Ventures program to distribute $5,000 working‑capital grants to 15 Annapolis‑based businesses, with the program focused on minority‑, women‑ and veteran‑owned firms. Stewart said the grant had not been funded for the current year but suggested the council could consider re‑funding in the future; she also noted the program will mark its five‑year anniversary in June.
Stewart briefly summarized other economic metrics: the citywide commercial vacancy rate is about 4.4 percent, Eastport’s vacancy rate is 1.5 percent, and the city welcomed nine new businesses in April.
Committee members thanked Stewart for the report and did not move immediate action; the program’s ongoing funding and potential future council consideration were left for later deliberation.
