The City of Nevada, along with Main Street Nevada and the Nevada Economic Development Council, is pleased to announce a new funding program designed to support the attraction and expansion of small businesses within the community.
The goal of the “Revitalize Nevada Business Grants for Job Support, Growth, and Development” program is to encourage new businesses to locate within the city limits of Nevada, ultimately supporting job creation and business attraction and retention in the community.
The Nevada City Council and the Nevada Economic Development Council will provide funding for the program. Each organization is committing $10,000 from their current budgets to support the new program. The program’s utilization and effectiveness will be evaluated early next year to determine whether additional funds will be directed to it.
Applicants must provide a letter of interest along with a well-detailed business plan, including an executive summary of the business idea, market analysis and an overview of competitive strategy, operations, and management detail, and a financial overview (list of the financing sources, proposed start-up budget, and projected cash flows for the first two years).
Mayor Brett Barker explained, “We are excited to launch this new program to support the attraction of new business to Nevada as well as support the expansion and diversification of our existing small businesses. We are grateful for the partnership we have with both Main Street Nevada and the NEDC.”
Grant funds can be used for the following:
- Capital expenditures related to the purchase of a building in Nevada
- Building improvements (structural or aesthetic)
- Expenses relating to the purchase of machinery, equipment, or tools needed to operate the business
- Marketing or advertising campaigns
- Signage
- Utility expenses
The grant cannot fund:
- Payroll or employee compensation
- State, local, or federal tax obligations
- Fines related to health or safety violations
Because funds are limited, special consideration will be given to business prospects looking to start up one of the following businesses in Nevada:
- Restaurant, Deli, or other retail food service
- Recreational or entertainment venue
- Sporting goods, crafts, or hobby
- Product niche and/or gift store
Grants will be issued at a maximum of $5,000 each. The funds are available until they have been exhausted for the current fiscal year.
For more information contact Main Street Executive Director Emily Schaack for interest in the downtown district or NEDC Executive Director for interest outside of the downtown district. Emily can be reached at director@mainstreetnevada.org or 515-382-6536; Brenda can be reached at brenda@amesalliance.com or 641-420-3556.
