Every business owner and local government should take advantage of state and federal incentive funding for economic development. There is a multitude of government funding opportunities available in today’s market that can create value and add to the bottom line. However, due to the complexity of funding sources and the sometimes laborious and fluid application processes involved, many just simply choose to sit it out. As a result communities and businesses oftentimes miss out on substantial opportunities for funding for business growth, community development and job creation.
The most important aspect of pursuing government subsidies and incentives is assessing your project up front and matching the unique qualities of it to appropriate resources. RWCG’s expertise lies in providing strategic direction and know how to access programs and funding sources based on your specific situation and project attributes. Many times, this is not always a straightforward process even though it would appear to be so on paper. This is because government funding programs and the officials that manage them often go through iterations of priorities and changing funding cycles. What worked last year or last month for that matter may be ineffective today.
What has become a constant is that local, state and federal elected and government officials recognize that effective public/private partnerships and collaboration are essential in many cases to incentivize economic development. It is in their enlightened self interest to support businesses and organizations that create jobs, increase property values, attract funding and grow the tax base. To be honest, not every project or business is a good candidate for government incentives and support. It is truly situational in nature. But you owe it to yourself to seek professional and creative expertise to analyze your business and organizational strategy to determine if some level of governmental support is warranted. Most government sponsored programs are actually seeking more good candidate projects. Supply normally exceeds demand. But you have to know who, where and how to look and choose the path most likely to succeed.. That’s what a good consultant should do for you! There must be a positive return on your investment.
EDGE Funds, local project grants, Port Authorities, Third Frontier, CRA funds, Minority Business Development Assistance, land banks, development agency target industry programs, JobsOhio, New Market Tax Credits, operating and capital budget appropriations, special purpose line items and a whole list of other options can be approached by businesses looking to move, start, or grow in Ohio and other states as well. We’ve been there, done that, with nearly every subsidy and funding option and have even created a few of them ourselves in cooperation with state and federal legislators to meet a solid public purpose and defined benefit .
If you want to explore all the options for business growth, job creation, community and economic development related funds, we can walk you through the process. RWCG can advise, provide strategy recommendations and even guide your team to successful outcomes. There are literally thousands of options, all are situationally based. Our know how, contacts and expertise have produced solid results for our clients over the past 15 years. Let us go to work for your team and see what we can make happen together.