Deadline: 1-Oct-21
The Colorado Office of Economic Development and International Trade (OEDIT) has launched its Grant Program to support economic development maintain operations and economic recovery efforts.
They are partnering with the Economic Development Council of Colorado to administer this grant. They are responsible for managing the program while the Economic Development Council of Colorado is responsible for distributing grant funding.
Funding Information
- Amount: Up to $25,000 or up to $50,000 per application
- If your organization serves a population under 25,000, you can apply for up to $25,000. If your organization serves a population over 25,000, you can apply for up to $50,000. Exact funding amounts depend on the quantity and quality of applications they receive. Funding is expected to be distributed to awardees in November 2021.
Eligible costs
Grants are intended to support operational and programmatic expenses to maintain critical operations and economic recovery efforts. Eligible costs are typical economic development activities and functions that include, but are not limited to:
- business attraction, retention, and expansion
- workforce development
- commercial/industrial revitalization and rehabilitation
- community development
- business entrepreneurship and startup support (such as incubators and accelerators)
- business financing and technical assistance
- international trade development
- infrastructure development (such as broadband projects)
Eligibility Criteria
- You will need to be a part of any organization whose primary activities and functions are focused on economic development. Your organization does not need to be a part of the Economic Development Council of Colorado to be eligible. Examples of organizations include:
- accelerator or incubators
- county economic development organizations
- municipal economic development organizations
- regional economic development organizations
- public/private economic development organizations
- chambers of commerce
- council of governments with economic development staff
- Your organization needs to:
- demonstrate negative operational impact caused by the pandemic
- have been in operation with a physical presence in Colorado by January 1, 2020 with plans to continue operations
- agree to provide a short close-out report to OEDIT of economic impact generated by funds one year after receiving funding
- have dedicated economic development staff
- have an operating budget greater than grant award amount
- be in good standing with the Colorado Secretary of State
- Priority will be given to organizations that:
- experienced significant impact of COVID on total revenue in 2020 from 2019
- experienced loss of staff due to the pandemic
- are the only applying organization in their defined geographic area.
For more information, visit https://oedit.colorado.gov/economic-development-organization-recovery-grant