Grant Available to Newport's Small Businesses

Newport Economic Development Commission (NEDC) announces the ReNewport Grant program for 2009. The NEDC is creating a funding pool of $25,000 to be dedicated to help small businesses in Newport make needed improvements to the exterior of their buildings, to their parking lots or grounds. The goals of the grant are to assist small businesses in making capital improvements to their buildings, to make businesses in Newport more competitive by helping improve their access and signage and to assist in the beautification of the community.

The grant will be a 50% matching grant, meaning that the business owner or the building owner will pay half of the cost of the improvements and the NEDC will award the business a grant for the other half of the cost. The maximum grant amount will be $2,500, allowing businesses to receive 50% of up to a $5,000 project. The grant can be used for any exterior renovations to a building or property that houses an active business or that will house an active business within 30 days of completion of the project.Grants will be awarded on a first qualified application first funded basis with applications being accepted starting January 15, 2009.

If you would like a grant application and a set of grant guidelines, please contact the Newport Economic Development Commission. Applications must be turned in to the Newport Economic Development Commission, 201 Hazel Street, P.O. Box 766, Newport, AR 72112. They can be mailed, delivered in person, faxed to (870)523-1009 or emailed to director@newportaredc.org. The NEDC will continue to accept applications until businesses have used the pool of funds for 2009. In 2008 the Newport Economic Development Commission conducted an existing business survey for businesses in Jackson County. Eighty-one of the approximately five hundred businesses in and around Newport answered the survey. One request that was often given was to find ways to give assistance to the small businesses in our community.

After researching other communities across the United States, the NEDC adopted the ReNewport Grant as the best way to help small businesses. The grant is open to existing small businesses and new small businesses alike; however, it is reserved for retail and commercial businesses.If you would like more information or have questions about the grant, please feel free to call Jon or Shirley at the Newport Economic Development Commission Office, (870)523-1009. The ReNewport Grant is just another way the NEDC is working with our local businesses to bring about Jackson County’s bright future.