City News

Posted on: November 16, 2017

Job Creation Grant Program for New and Growing Portland Businesses - Apply Now!

NEWS ALERT

Job creation matching grants are once again available through the City’s Economic Development Department. It is anticipated that the grant funds will go quickly, so interested applicants are encouraged to submit applications as soon as possible. The Business Assistance Program for Job Creation (BAP) has just over $100,000 in funds to grant.

  

BAP’s purpose is to create jobs by helping entrepreneurs start businesses and grow existing businesses. Eligible funding activities include purchase of machinery and equipment, inventory and supplies, payment of salaries, rent, utilities and other working capital needs.


Portland businesses seeking to create new full-time, year round positions may apply for a grant of $10,000 (for 1 job) or up to $20,000 (for 2 jobs). Jobs must be filled by low/moderate income individuals. The match component of the program requires that for every $10,000 in grant funds, a business owner is required to match it dollar-for-dollar with their own private funds. At least half of the private match must be owner cash to be invested in the business, while the rest may be funded through a business loan from a bank, credit union or other financing agency, including the City’s Commercial Revolving Loan Program.


More information on the Program, its requirements and an application can be found on the City’s website. You can also contact Nelle Hanig at nrh@portlandmaine.gov or 207-756-8019.  

 

The City’s Economic Development Department administers this job creation program and the Portland Development Corporation, the City’s loan and grant board, approves all grant awards. The Program is funded by the City’s Community Development Block Grant through the U.S. Department of Housing and Urban Development. 

Facebook Twitter Google Plus Email

Other News in City News

POC logo

Portland Opportunity Crew Begins

Posted on: May 4, 2017
website homepage refreshCP

Portland Unveils Redesigned Website

Posted on: March 30, 2017

City Selects New Tax Assessor

Posted on: January 18, 2017

Treasury Office Now Opens at 8:30 AM

Posted on: January 3, 2017