Maine and New Jersey launch new funding program to stimulate technology and manufacturing

Over the past few years, communities across the country have used grants to help small businesses recover. But grants can also spur new innovations that state and local governments want to promote. That’s the case with two new grant programs launched this week. See below for a full list of new opportunities.

Maine Pandemic Recovery from Maine Innovation Economy Fund

Maine recently announced a $5 million grant program for small businesses. This is the second round of grants from the Maine Innovative Economy (PRIME) Fund Pandemic Recovery as part of the Maine Jobs and Recovery Program. The Maine Institute of Technology manages the program, which focuses on targeted technology areas in Maine such as biotechnology, marine industries and precision manufacturing. November 15 is the deadline for this round of applications.

Made in New Jersey Coupon Program

New Jersey just launched a new pilot program to help manufacturers buy new equipment. The New Jersey Economic Development Authority will administer the program, known as the New Jersey Manufacturing Voucher Program, which includes $20 million in funding from the fiscal 2023 budget. To qualify, manufacturers should fit into the target industry and use funds to purchase materials that improve their manufacturing processes. MVP grants may cover 30% to 50% of the cost of eligible equipment, including installation. The maximum award amount is $250,000.

Lynchburg launches LYH

The Lynchburg, Virginia Downtown Association is supporting new storefront businesses in the area through an upcoming grant program. The Launch LYH program includes $115,000 in funding to fill vacant storefronts and help small businesses start or expand in downtown Lynchburg. The program will officially launch in early 2023. A full program guide and application will be available on the Lynchburg Downtown Association website at that time.

New London/WBDC Small Business Grant Program

The Women’s Business Development Council of New London, Connecticut is offering grants of $2,500 to $10,000 to local businesses. To be eligible, a New London business must have been established for at least two years and have had between $25,000 and $2 million in revenue in the past year. Funded through the city’s allocated US Rescue Program Act funds, the program is open to businesses founded by men and women. The first application period is now open until December 1. At that time, the organization will reassess and may continue to accept applications until all funds have been disbursed.

Arcadia ARPA Small Business Grant Program

The City of Arcadia, Calif., allocated $1 million in US Rescue Program Act funding to two small business grant programs. The first is the Business Grant Program, which will receive $750,000. The second, the License Assistance Program, will receive $250,000. The ARPA Small Business Grant Program provides up to $10,000 per business for a variety of physical improvements and marketing. The application period is October 24 to December 29. The ARPA Small Business License Assistance Program can offset a business’s urban planning and construction costs, up to $5,000 per company. The application period for the program begins on November 15 and runs until funds are exhausted.

Concord Pandemic Recovery Grant

The Concord, Calif., and Greater Concord Chambers of Commerce are launching a $2 million pandemic recovery grant program. Funding comes from the city’s remaining $19 million appropriation from the federal American Rescue Program Act. The program will include $5,000 in grants awarded to 370 small businesses. Funding will be done in two rounds. The first will run from November 7 to November 18, and the second will run in spring 2023.

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