Twenty-two communities around Michigan have been awarded a total of $993,984 in grants aimed at supporting the COVID-19 economic recovery efforts of small local businesses throughout the state, the Michigan Economic Development Corporation announced Monday.
The grants are being awarded through an expansion of MEDC’s Match on Main program. A total of 299 small businesses around Michigan are receiving assistance through the program.
“Michigan’s small businesses and traditional downtowns are the heart of our communities, and by providing communities with resources to engage in economic recovery efforts we can help ensure our downtowns not only recover, but thrive,” said MEDC CEO Mark A. Burton. “The Match on Main grants will help Michigan’s downtown businesses recover from the loss of revenue as a result of the COVID-19 virus and support workers they employ in these communities.”
In May, MEDC announced that its existing Match on Main program was being expanded to provide access to more communities and refocusing resources on recovery efforts of existing businesses, rather than helping open new businesses. Community-based organizations such as downtown development authorities could apply for grant funding through Match on Main to then make local grants to small businesses located within their districts that have realized a significant financial hardship as a result of the COVID-19 outbreak.
The Match on Main–COVID-19 Response program was opened up to all 286 engaged and certified Redevelopment Ready Communities across the state of Michigan, in addition to the Michigan Main Street communities that traditionally participate in the program. The expanded program also waived the matching requirement for the small business applicant which is required to receive funding under the traditional Match on Main program.
“We are absolutely thrilled that MEDC’s Match on Main application on behalf of the City of Mt. Pleasant was approved and that many of our downtown businesses will be receiving critical financial support as they recover from the COVID-19 shutdown,” said Middle Michigan Development Corporation President and CEO James McBryde. “These funds will help ensure that Downtown Mt. Pleasant will continue to be a vibrant place for residents, students and visitors to enjoy.”
The local unit of government, downtown development authority, Main Street organization or other economic development organization that represents a traditional commercial district including a downtown, neighborhood commercial district, or an area planned and zoned for concentrated commercial development was eligible to apply for up to $50,000.
The minimum contribution that was able to be administered to any one business must be at least $2,000, with a maximum of $10,000. Applicants determined which businesses were selected for inclusion in the application for support and at what desired grant amounts. The application window was May 13, 2020 through May 29, 2020.
The list of 2020 Match on Main grant winners can be found at www.miplace.org/match-on-main.
On June 4, MEDC announced that more than 100 small businesses around Michigan were utilizing its MI Local Biz crowdfunding program throughout the month of June.
MEDC will provide a total of $500,000 in matching grants to help the businesses as they work to recover from the negative economic impacts of the COVID-19 crisis.
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