CDA grants of up to $5,000 to be awarded locally
Village of Sussex - The Village Board was expected to approve this week a proposal from the Community Development Authority (CDA) for the creation of a local economic development grant program intended for selected Sussex businesses that are expanding facilities or creating new jobs.
The maximum grants of $5,000 could be awarded to for-profit businesses in industrial categories that include automation, agricultural/food products, biotechnology, energy, information technology, manufacturing, medical devices and printing.
The CDA receives an annual payment from the owners of the property of the Mills Site on Maple Avenue, principal and interest payments from loans it has made and from the sale of investment property. The grants will be funded from these things.
Village Administrator Jeremy Smith explained to the Community Development Authority during its meeting last week that those categories of businesses are recommended for the grants because those businesses generally own the facilities in which they are located and pay local real estate taxes for those facilities.
In addition, he said, when businesses in those categories expand they are often looking for new or larger facilities that they may also own and that also tend to increase the size of the village's tax base.
Applications for the grants must submitted by Jan. 15 and July 15 for consideration in each grant cycle.
Applicants seeking grants are encouraged to meet with Assistant Development Director Kasey Fluet to discuss the proposed business expansion and grant request.
Expansion costs eligible for grants include land and building acquisitions, capital improvements, engineering and planning, new employee training and relocation expenses for the expansion of an existing village business into an additional existing facility in the village, according to the proposal.
To be eligible for the grants, applicants must be investing in Sussex for land or building acquisition costs, capital improvements or new employees in an amount of money that is at least equal to the amount of the grant.
Applicants who are creating new jobs or have a higher value of new capital investment in Sussex are likely to be given a priority by the CDA, according the proposal.
Smith added the program is particularly targeted to those businesses within the categories that are expanding into community facilities while such expansion is being limited by federal and state rules, regulations and practices.
However, Village President Greg Goetz told the development authority he might seek to broaden the base of eligible business for the grants.
Goetz said he wanted the development authority to be empowered to award grants to long-standing, locally owned small businesses that have made a contribution to the community and local economy but may not be included within the industrial categories defined in the grant program proposal.
He noted there was at least one small business in the community that has recently closed that might have been able to remain open if they could have received such a grant.
An initial grant of $5,000 has been awarded to Color Ink, at the intersection of Highway VV and Silver Spring Road, to help defray some expansion for the company expanding to previously vacant adjacent buildings.
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