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Highland EDA

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12/14/21 - The Highland Economic Development Authority (EDA) 2022 Incentive Grant Program that was accepting applications through late 2021 is closed.  Please check back in 2022 for updates the next Incentive Grant Program.  The general information about the program that was available in late 2021 remains below for reference.

Funded by Highland County Board of Supervisors, the purpose of the Highland EDA Grant Incentive Program is to encourage the growth and success of small businesses located in our County. The grant program is designed to provide a mechanism for the Highland EDA to evaluate and award incentives to local businesses. The program goals are to:

• Encourage entrepreneurship
• Provide new job opportunities for local residents
• Increase the commercial tax base in our region

Applications will be evaluated by EDA members based on the following criteria: Current number of employees/projected number of employees within two years; current and projected revenue within two years; proposed use of the grant funds; business and marketing plan; and readiness to undertake the project.

Grant funds, in a range of $2,000 - $5,000 per business, are for the purpose of assisting with start-up or expansion expenses and can be awarded for the following uses: Purchase of supplies, equipment, or inventory, and/or down-payments towards the lease or purchase of a commercial location, renovations or minor repairs to a new commercial location, utility connection fees, and/or advertising & marketing expenses, and job training (if unavailable through VJIP). Normal operating expenses, such as rent, utilities, payroll, taxes, etc. are not allowable expenses. Full justification of how grant funds will be used and proof that they were utilized as described is required.

• Prior (2019-2021) Incentive Grant Recipients are not eligible for the FY 22 grant cycle
• Due to limited economic impact, Bed and Breakfasts are not eligible for the grant

Grants will only be awarded for work, items, and/or projects performed or received after approval of the application. All projects must be completed within 6 months of approval. Funds will be awarded to the applicant one of two ways: 1) in the form of reimbursements upon satisfactory completion of a task/project or 2) in the form of payment directly to a vendor upon the presentation of an invoice for a specific item. Purchases must be made in accordance with the approved application, and with the grant guidelines set out below. Applicant must submit copies of all paid invoices/receipts and copies of all required permits and approvals.

Program information and grant applications may be:
1) Downloaded from the Highland County Chamber of Commerce’s website at www.highlandcounty.org
2) Requested by email to: highlandeda@htcnet.org
3) Any questions may be directed to: highlandeda@htcnet.org for a prompt response.

Applications may be hand-delivered to Highland County Courthouse Board of Supervisor’s Office or mailed to:
Highland EDA,
P. O. Box 68
Monterey, Virginia 24465.

All grant recipients are required to present a business plan (for start-up or expansion) to the Highland EDA and be prepared to discuss their business plans.

 

Need help with writing grants?  Check out free SCORE counseling at https://www.score.org/.

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