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Select Board OKs Roux Institute small-business program to serve Rockport firms, funded from TIF
Summary
The board approved a $40,000 small-business development program run by the Roux Institute, to be funded from the town's TIF districts; program will serve roughly 10–12 businesses in an 8-session cohort.
The Rockport Select Board approved a small-business development agreement with the Roux Institute that will bring an eight-session training and mentoring program to local firms. Economic Development Committee member Barrett Brown presented the proposal and described the program's structure and value.
Brown described the $40,000 program cost and the value proposition for local businesses: "To be able to provide this service for 10 to 12 businesses at roughly $4,000 a business is, I mean, for me, just a no brainer," he said. Board members asked about how participants would be selected; staff and committee members said the Institute will market the opportunity, accept applications, and select participants in consultation with the town and the Economic Development Committee.
Funding for the program will be drawn from the town's TIF (tax increment financing) funds after a friendly amendment that specified the source. A board member abstained from the final vote because of a family connection; the final tally was recorded as four votes in favor and one abstention. Staff said the town will work with the Institute to begin the program in spring, and selection and outreach details will be shared with the board and local business community.
The town manager and the Economic Development Committee will coordinate outreach to ensure businesses know how to apply and to help select participants most likely to benefit.
